Liquid has suspended all trading operations on its platform in line with instructions from FTX Trading, the firm announced on Twitter on Nov. 20. The statement indicates that Liquid exchange paused “all forms of trading” because of the operation of the Chapter 11 process in the Delaware courts. “We have since done so while we assess the situation. We are working through these issues and will endeavor to give a fuller update in due course,” Liquid added. Liquid’s operational halt comes five days after the exchange suspended all withdrawals on its platform, citing compliance with the requirements of voluntary Chapter …

Bitcoin (BTC) starts a new week still replaying November 2020 after its lowest weekly close in two years. The largest cryptocurrency, just like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of exchange FTX. Contagion is the world on everyone’s lips as November grinds on — just like the Terra LUNA collapse earlier this year, fears are that new victims of FTX’s giant liquidity vortex will continue to surface. The stakes are decidedly high — the initial shock may be over, but the consequences are …

The hacker behind the bankrupt cryptocurrency exchange FTX started transferring their Ether (ETH) holding to a new wallet address on Nov. 20. The FTX wallet drainer was the 27th largest ETH holder after the hack but dropped by 10 positions after the weekend ETH dump. The FTX hacker drained nearly $447 million out of multiple FTX global and FTX.US exchange wallets just hours after the crypto exchange filed for Chapter 11 bankruptcy on Nov. 11. Majority of the stolen funds were in ETH, making the exploiter the 27th largest ETH whale. On Nov.20, the FTX wallet drainer 1 transferred 50,000 …

On-chain sleuth ZachXBT has shared his findings on what he sees as the three most common misconceptions about the FTX hack — taking to Twitter to correct a "ton of misinformation" about the event and the possible culprits. In a lengthy Nov. 20 post on Twitter, the self-proclaimed “on-chain sleuth” debunked speculation that Bahamian officials were behind the FTX hack, that exchanges knew the hacker's true identity, and that the culprit is trading memecoins. 1/ I have seen a ton of misinformation being spread on Twitter and in the news about the FTX event so let me debunk the three …

The FTX collapse continues to stoke fears of a contagion in the cryptocurrency space as investors wait to hear about businesses that may face the heat. One of the marquee names to come under the circle of suspicion is the Grayscale Bitcoin Trust (GBTC), which has seen its discount to Bitcoin’s (BTC) price reach record levels of about 50%. Traders hate uncertainty and shy away from investing during these periods. That could be one of the reasons for a lack of buying interest in Bitcoin even after the sharp fall in its price. The Stock-to-Flow (S2F) model, which had seen …

According to blockchain analysis company Chainalysis, funds stolen from the FTX crypto exchange are now being converted from ETH into Bitcoin. On Nov. 20, Chainalysis took to Twitter to encourage exchanges to freeze these coins, should the thief attempt to convert them into fiat or further obfuscate the assets through other means. 1/ Funds stolen from FTX are on the move and exchanges should be on high alert to freeze them if the hacker attempts to cash out — Chainalysis (@chainalysis) November 20, 2022 Amid the controversial collapse and bankruptcy of FTX, news broke that an unknown actor had stolen …

The largest Bitcoin (BTC) institutional investment vehicle is coming under suspicion as it trades at a record discount. The Grayscale Bitcoin Trust (GBTC) is the latest Bitcoin industry entity to feel the heat from the debacle over defunct exchange FTX. FTX woes see Coinbase pledge trust in GBTC owner With contagion and fears over a deeper market rout everywhere in Bitcoin and altcoins at present, misgivings are impacting even the best-known — and trusted — crypto industry names. In recent days, it was the turn of GBTC, the long-embattled Bitcoin investment fund, amid problems at a related crypto firm, Genesis …

Bitcoin (BTC) is now further than ever from its target price according to the Stock-to-Flow (S2F) model. The latest data shows that BTC/USD has deviated from planned price growth to an extent never seen before. Stock-to-Flow sets grim new record With BTC price suppression ongoing in light of the FTX scandal, an already bearish trend has only strengthened. This has implications for many core aspects of the Bitcoin network, notably miners, but some of its best-known metrics are also feeling the heat. Among them is S2F, which is seeing its price forecasts come under increasing strain — and criticism. Enjoying …

One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating supply. However, the demise of numerous crypto exchanges over the last decade has permanently taken out at least 5.7% (1.2 million BTC) of the total issuable Bitcoin from circulation. The lack of clarity around a crypto exchange’s proof-of-reserves came out as the primary reason for their sudden collapses, as seen recently with FTX. Historical data around crypto crashes revealed that 14 crypto exchanges, together, were responsible for the loss of 1,195,000 BTC, which represents 6.3% …

2022 was a tough year for crypto, and November was especially hard on investors and traders alike. While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull other centralized crypto exchanges down with it could be positive over the long run. Allow me to explain. What people learned, albeit in the hardest way possible, is that exchanges were running fractional reserve-like banks to fund their own speculative, leveraged investments in exchange for providing users with a “guaranteed” yield. Somewhere, across the crypto Twitterverse, the phrase “If you don’t know where the yield comes …

Bitcoin (BTC) price has tested the $16,000 resistance multiple times since the 25% crash that occurred between Nov. 7 and Nov. 9, and some critics will justify their bearish bias by incorrectly assuming that the failure of FTX exchange should trigger a much broader correction. It's kind of annoying me that Bitcoin is still selling for $16k-ish, even in the wake of all of this FTX news. I mean I assume the volume is low, but what on earth will it take to properly crush this zombie "currency" back to its rightful value of nearly zero? — Daniel Knowles (@dlknowles) …

The sentiment across the cryptocurrency ecosystem remains fragile as market participants assess the impact of the FTX crisis on various businesses within and outside of the crypto sector. Trading firm QCP Capital said in its latest circular on Telegram that crypto assets may continue their underperformance till the new year. QCP projects Bitcoin (BTC) to plunge to $12,000 and Ether (ETH) to $800. Looking at the brighter side, FTX could be the last major player to bite the dust during the current bear market cycle, according to CK Zheng, co-founder of crypto hedge fund ZX Squared Capital. Zheng also added …