A recent price rally in the Solana (SOL) market ran out of steam midway as traders' attention shifted to crypto-focused hedge fund Alameda Research's insolvency rumors. Alameda Research insolvency rumors affect SOL On Nov. 7, SOL's price plunged nearly 6% to about $30.50. The intraday selloff came as a part of a broader pullback trend that started on Nov. 5 when SOL peaked at around $38.75. Between then and now, the Solana token is down over 20%. The beginning of SOL's plunge coincided with reports that Alameda Research has liabilities worth $8 billion but may not have liquid assets on …

An ongoing selloff in the FTX Token (FTT) market could worsen in the coming months owing to a mix of pessimistic technical and fundamental indicators. FTT could plunge 30% From a technical perspective, FTT has formed an inverse-cup-and-handle pattern on the daily chart, identifiable by its crescent-shaped price trend followed by a less extreme upward retracement. On Nov. 6, FTT broke below the pattern's support line near $22.50, accompanied by a volume spike. The FTX exchange token's selloff continued on Nov. 7 below the support line, raising risks of a bearish continuation phase in the coming months. As a rule …

Crypto billionaire and FTX founder Sam Bankman-Fried have admitted to being a "significant donor" to both sides of the political spectrum ahead of the 2022 midterm elections. Days ahead of the U.S. midterm elections on Nov. 8, SBF told his Twitter followers that he has given contributions to electoral campaigns on both sides of the fence. The crypto billionaire said that he has been “supporting constructive candidates across the aisle to prevent pandemics and bring a bipartisan climate to DC,” as well as “working with them to support permissionless finance.” SBF added that working with FTX Digital Markets co-CEO Ryan …

Solana (SOL) has been in a steady downtrend for the past 3 months, but some traders believe that it may have bottomed at $26.80 on Oct. 21. Lately, there's been a lot of speculation on the causes for the underperformance and some analysts are pointing to competition from Aptos Network. The Aptos blockchain launched on Oct. 17 and it claims to handle three times more transactions per second than Solana. Yet, after four years of development and millions of dollars in funding, the debut of the layer-1 smart contract solution was rather unimpressive. It is essential to highlight that Solana …

Last month’s proposal from Sam Bankman-Fried, CEO of crypto exchange FTX, for regulators to establish a litany of standards for the cryptocurrency industry poses an existential threat to decentralized finance (DeFi) platforms and entrepreneurial spirit. As one of a select few with the capital and clout to move the needle in the discussion surrounding crypto regulation, Bankman-Fried, also known as SBF, should be taking a stand to protect DeFi by directing regulators to where they’re urgently needed: centralized finance (CeFi) platforms and centralized exchanges (CEXs). In a section of his blueprint for regulatory oversight and industry standards addressing DeFi, SBF …

A senior FTX executive has been revealed as the reported mystery donor behind a massive $500,000 contribution to the Democratic Party of the American state of Oregon. According to local reports, the Oregon Democrats initially told state election officials that the $500,000 donation was from Prime Trust, a crypto-focused fintech in Nevada. However, on Nov. 1, the party director revealed the true source behind the donation was FTX Engineering Director Nishad Singh, who has been the state Democratic Party's fourth largest donor since Nov. 2020. Apparently, there was initial confusion about who was behind the half-a-million-dollar donation. State party executive …

Facebook’s rebranding into Meta was Mark Zukerberg’s latest attempt to retain dominance in the social media world of Web3, specifically, the Metaverse. On the occasion of Meta completing one year on the rebrand, Sam Bankman-Fried (SBF), the CEO of the crypto exchange FTX, shared his thoughts on the rebranding and what it means for the future of Meta. Zuckerberg’s $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar for Meta’s Horizon Worlds VR platform. Subsequent releases of the Zuckerberg avatar fell prey to internet memes, although each new iteration seemed visually better than its predecessor. According …

Respected former decentralized finance (DeFi) project founder and developer Andre Cronje has resurfaced after a lengthy hiatus to call for tighter regulations on the crypto sector amid the implosion of multiple firms this year. The comments echo similar sentiments to that of FTX CEO Sam Bankman-Fried (SBF), who also called for more stringent digital asset industry standards last week, including greater consumer protections, transparency, and disclosures. SBF was met with strong community pushback however, with many people accusing the CEO of trying to monopolize or censor the DeFi space, among other things. In an Oct. 25 blog post titled “The …

FTX CEO Sam Bankman-Fried (SBF) said the rise of Binance stablecoin BUSD could spark the “Second Great Stablecoin War,” given how fast its market cap has surged over recent months. Bankman-Fried's recent comments come a month after Binance pushed ahead with plans to auto-convert a host of stablecoins supported on its exchange into BUSD on Sept. 6, — which has seen BUSD's share of the total stablecoin market rise since. BUSD’s share of the total stablecoin market has risen from 10.01% on Sept. 7 to 15.48% on Oct. 22, according to crypto data aggregator Coin Metrics. Meanwhile, BUSD’s market cap …

The Texas State Securities Board (SSB) and the Texas Department of Banking (DOB) filed a supplemental declaration Oct. 14 in the Voyager Digital case in which it stated that the SSB is investigating FTX Trading, FTX US and their principals, including co-founder and CEO Sam Bankman-Fried, for allegedly offering unregistered securities in the United States. FTX US won the auction for the remaining Voyager Digital assets on Sept. 26. The supplemental declaration from the Texas regulators is attached to an objection to the sale of Voyager Digital assets to FTX filed by the Texas Attorney General’s office also on Oct. …

FTX CEO Sam Bankman-Fried announced in a series of tweets that, over the next month, the exchange is expected to roll out various improvements to its matching engine. 3) We'll be rolling out a whole new order matcher, lower latency API pathways, and a whole slew of other features. These have been in the works for most of the year. They're almost ready to release. — SBF (@SBF_FTX) October 10, 2022 According to the CEO, the exchange will roll out “a new order matcher, lower latency API, and a whole slew of other features” that have been in the works …

Spending cryptocurrency may become a lot easier. FTX, one of the world’s largest crypto exchanges, partnered with payments giant Visa to roll out debit cards in 40 countries worldwide. The move would allow FTX users to pay for goods and services using debit cards that boast “Zero fees.” Plus, card ownership is free according to the company website. Sam Bankman-Fried, the most influential person in crypto according to Cointelegraph’s Top 100, has long touted his desire to unveil an FTX debit card. His company's decision to partner with legacy payment rails — as opposed to crypto payment rails such as …