Recent filings submitted by FTX’s bankruptcy advisors reveal that the bankrupt crypto exchange is facing escalating legal and advisory costs. According to the filings, the exchange’s advisors billed FTX a staggering $121.8 million in fees and expenses for the period between February 1 and April 30. The filings show that law firm Sullivan & Cromwell
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ARK Invest CEO and Chief Investment Officer Cathie Wood has revealed that her flagship fund, Ark Innovation (ARKK), is adding to its position in Coinbase (COIN) despite the Securities and Exchange Commission (SEC) lawsuit against Binance, one of Coinbase’s biggest competitors. According to disclosure statements, ARKK purchased almost 330,000 shares of COIN on June 6,
Binance’s US-based exchange, Binance.US, has experienced a significant decline in its share of trading volume among USD-to-crypto trading exchanges. The decline in market share is visible in data analyzed by The Block, which shows that the exchange now holds a market share of just 4.35%, a significant decrease from over 16% in April. This market
XRP’s price has remained above the $0.50 psychological level for over two weeks, but on June 14, the currency broke down from this level, causing concerns about a potential trend reversal. After initially finding support from the 100-day EMA and the Fib 0.5 level at $0.4779, traders and investors are now closely monitoring the technical
The cryptocurrency market is ever-evolving, with new digital coins entering the market every day. DEXTools, a decentralized exchange tool, has compiled a list of the top trending cryptocurrencies on its platform. The list includes 4Chan, Unleash, Planet, AiDoge, and Scam. Trending Cryptocurrencies 4Chan, a token listed on Uniswap on May 1st, is the most trending
Ethereum developers have proposed raising the deposit requirement for validators from 32 to 2,048 ETH. This increase of 6,300% aims to reduce the waiting times for setting up a validator node, which currently stands at just over 40 days. However, this proposal may further increase the centralization of staking, which could increasingly become the preserve
Bitcoin, the world’s largest cryptocurrency, has seen its value drop by nearly 15% from its yearly high of around $31,000 due to regulatory crackdowns on Coinbase and Binance and the Federal Reserve’s hawkish forward guidance. Despite this, Bitcoin (BTC) is up 60% year-to-date and has held above a technical support level of $25,000. There are
On June 15, the total market capitalization of cryptocurrencies fell to its lowest level in three months, reaching $1.02 trillion. The past few weeks have seen a bearish trend fueled by regulatory uncertainty. While Bitcoin (BTC) and BNB (BNB) saw gains of 2.5%, XRP (XRP) dropped 5.2%, and Ether (ETH) traded down 0.7%. The 10-week-long
Bitcoin has gained 6.5% after defending the $26,300 level following a momentary retest of the $25,000 support on June 15. However, the cryptocurrency has declined by 12.7% in the last two months, leading to a slightly bearish sentiment among investors. The dismissal of Binance.US’s temporary restraining order by Judge Amy Berman Jackson of the United
The XRP market is currently buzzing with anticipation as a former SEC director recently hinted that a decision regarding the XRP lawsuit may be imminent. Marc Fagel shared his perspective on the ongoing Ripple lawsuit and its potential impact on the price of XRP. Fagel speculates that a ruling in the lawsuit is likely to