Bitcoin (BTC) and crypto markets fell heavily into Nov. 8 as contagion from the FTX debacle spilled over. Analysts dismiss FTX insolvency fears Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $19,351 on Bitstamp — its lowest levels since Oct. 25. The pair, along with altcoins large and small, had already begun to show weakness as moves by Binance to cancel exposure to FTX’s in-house (FTT) token were confirmed by CEO Changpeng Zhao. In a Twitter thread later on Nov. 7, Zhao defended the decision, while FTX CEO Sam Bankman-Fried attempted to reassure markets that his trading …

Countries failing to adhere to anti-money laundering (AML) guidelines for cryptocurrencies could find themselves added to the Financial Action Task Force’s (FATF's) “grey list." According to a Nov. 7 report from Al Jazeera, sources say the global financial watchdog is planning to conduct annual checks to ensure countries are enforcing AML and counter-terrorist financing (CTF) rules on crypto providers. The grey list refers to the list of countries the FATF deems as “Jurisdictions under Increased Monitoring." The FATF says countries on this list have committed to resolving "strategic deficiencies" within agreed timeframes and are thus subject to increased monitoring. It …

147 days have passed since Bitcoin (BTC) closed above $25,000, and the result is that investors are less sure that the $20,000 support will hold. Backing these concerns are persistent global financial and macroeconomic tensions, which escalated on Nov. 7 after European Union officials expressed concerns over the $369 billion U.S. Inflation Reduction Act. The extended tax, health and climate bill was approved in August and it also includes subsidies for electric cars and battery supply chains that are made in North America. According to CNBC, this is not the first time that Europe has expressed its concerns, citing international …

Bitcoin BTC stayed lower at the Nov. 7 Wall Street open as the day before U.S. midterm elections opened to flat equities performance. Crypto wobbles on FTX woes Data from Cointelegraph Markets Pro and TradingView showed BTC/ USD nearing $20,600 at the time of writing — a three-day low. Volatility was expected around the midterms and the Consumer Price Index (CPI) print for October later in the week. An additional hurdle in the form of controversy over trading platform FTX added to the market’s cold feet, with commentators wary of unnecessary damage to growth. “This whole thing is incredibly bad …

Portugal’s capital city of Lisbon has established itself as the spiritual home of one of the world’s largest technology events. Web Summit has called the Altice Arena home since 2016 and attracted a staggering 71,000 people in the latest edition of the conference. The effect of the event on the city was palpable. An estimated 540,000 people call Portugal’s captivating, hilly capital home and the influx of attendees from around the globe made for a busy week on its smaller cobbled streets and busier roads. It is not surprising that the event is a focal point for the city, which …

Cryptocurrency exchange FTX took to Twitter to address user complaints surrounding sluggish withdrawals. FTX assured users that everything is running smoothly with the matching engine, although node throughput is limited for Bitcoin (BTC) withdrawals. In the series of tweets, the exchange also addressed stablecoin withdrawals, saying redemptions or creations might be slow until banks open for the week and wires clear. Meanwhile, the community on Twitter had mixed reactions regarding FTX’s response. Some users tweeted their support of the exchange while others expressed their skepticism: Telling everyone how fine you are is the first red flag you are not — …

While proponents of traditional finance remain keen on dismissing Bitcoin (BTC) and the crypto ecosystem as financial risks, a survey conducted by the Federal Reserve Bank of New York — one of the 12 federal reserve banks of the United States — revealed 11 factors that overshadow crypto in terms of risk in 2022. Geopolitical tensions, foreign divestments, COVID-19 and high energy prices were found to be some of the most-cited potential risks for the US economy, according to a central bank survey published by the Federal Reserve System. Out of the 14 factors that pose a financial risk, crypto …

Bitcoin (BTC) starts the second week of November battling some familiar FUD — how will BTC price action react? The largest cryptocurrency managed a weekly close just below $21,000 on Nov. 6 — an impressive multi-week high — but remains fixed in a sticky trading range. Despite seeing highs of nearly $21,500 over the past week, there has yet to be a catalyst capable of breaking the market status quo, but the coming week has as good a chance as any of doing so. Nov. 10 will see key United States inflation data for October released, while jobless claims and …

What are the common crypto whale tracking tools? Whale tracking tools like Whale Watchers, Whale Bot Alerts and others can help investors spot whale action and make quick and timely decisions. Whale tracking tools come with different capabilities, some can be just a simple window on top of a blockchain, while others have analytics and charting capabilities across multiple blockchains. Some only cover crypto whale tracking, while others offer NFT whale tracking too. Various analytics tools offer just simple analytics and notifications on whale activities, while others provide users with more comprehensive learning opportunities on charts and analytics. Some just …

The next time Bitcoin (BTC) comes under fire for energy consumption, remember this statistic. The banking industry uses at least 56 times more energy. That's according to cryptographer and founder of Valuechain, Michel Khazzaka: "I’m not saying it uses less or the same, just know it uses 56 times more than Bitcoin." The statistic, first shared by Michel Khazzaka in the summer, caused a stir in the Bitcoin and wider crypto community. He published his estimates in a Valuechain report, a company he founded to investigate the world of crypto payments. In an exclusive Cointelegraph Crypto Story interview, Khazzaka talks …

Bitcoin (BTC) holders looking to avoid Central Bank Digital Currencies (CBDCs) may have gained a surprise ally — banks. In his latest blog post, “Pure Evil,” Arthur Hayes, ex-CEO of crypto derivatives platform BitMEX, argued that banks may limit the impact of the CBDC “horror story.” Hayes: Bitcoiners and banks stand against CBDC "dystopia" CBDCs are currently in various stages of development worldwide. Fans of financial sovereignty naturally fear and even despise them, as they imply total government control over everyone’s money and purchasing power — “a full-frontal assault on our ability to have sovereignty over honest transactions between ourselves,” …

For many years, Ethereum reigned supreme over the decentralized finance (DeFi) landscape, with the blockchain serving as the destination of choice for many of the most innovative projects serving up their take on decentralized finance. More recently, however, DeFi projects have started to crop up across multiple ecosystems, challenging Ethereum’s hegemony. And, as we look to a future in which the technical problem of interoperability is solved, one unlikely contender for the role of DeFi power player emerges — Bitcoin (BTC). In that future, Bitcoin plays potentially the most important role in DeFi — and not in a triumphalist, maximalist …