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Some worry that FTX’s collapse will shake the relationship between institutions and cryptocurrencies. Institutional investors like JP Morgan believe, however, that the debacle will entice financial institutions to adopt crypto. Deutsche Bank’s senior economist and macro strategist Marion Laboure, notes that corporate mismanagement is the root of the recent downfalls in the crypto sector. He thinks, “Insufficient reserves, conflict of interest, a lack of regulation and transparency, and unreliable data,” form a problematic structure that leads to major catastrophes. The FTX Washout The market is washing out in the wake of a sudden exchange collapse. Bitcoin, the world’s biggest cryptocurrency, struggles to bounce back its November peak when the coin reached the $65,000 mark. The giant is now trading around $16,000, signaling an extended crypto winter while red waves seem to be rather solid across altcoins’ performance. But Laboure believes, “this second crypto winter,” spots a...

The crypto market finished a brutal week with Bitcoin losing over 21% in value within seven days following the FTX saga . The Market Tumbles The Halloween party was over but its remnants are seemingly still around the corner. There’s blood all over the crypto market and the crowd panic sells for the exits. The situation is bad given the fact that the market is valued at $841 billion at the time of writing – the lowest point since the November peak last year. Experts predicted a difficult week for Bitcoin and other digital currencies as the U.S. Bureau of Labor would release the CPI data. And just when the market was prepared to take a storm, it was the tsunami that hit. In fact, October’s CPI came on Thursday as a boost. The index hit 7.7%, a slight decrease from last month’s CPI of 8.2%. While inflation in the world’s most impacted economy remains high, there are some signs of progress in efforts to combat inflation. The news sent Bitcoin surging 6% on the day and Ethereum c...

Ethos is putting self-custody with powerful features in the spotlight once again while offering an easy and intuitive interface. In this review, we will be taking a look at what Ethos is, what it has to offer, and everyone you should know about it. The project was envisioned all around the idea of self-custody, which means its users are never giving control of their coins to a third party temporarily, adding an extra layer of security and transparency. The value of personal control has been demonstrated time and time again through services such as the crypto wallet Ethos launched back in 2018, which was entirely on-chain and universal. “Not your keys. Not your coins” or some variation of it is an expression most people in the world of crypto have heard at least once but despite this, not many seem to understand. Giving away control is especially worrying when considering cryptocurrency and blockchain were designed to bring true ownership and security through decentralization. ...

The crypto space is a very technical one, especially for beginner traders. The high volatility, usability and navigating crypto platform are some common challenges new cryptocurrency traders face. But the development of fun projects and meme coins has drawn a lot of new users and investors into the crypto market. For instance, metaverse-related and P2E projects have flourished hugely, attracting many video game lovers through the play-to-earn model. Memecoin projects, on the other hand, offer an easy and low-investment route into the crypto space. These coins were mostly introduced as a lighthearted way to get into the cryptocurrency world. However, they have significantly dominated the market over the years. Because of their popularity, meme coins like dogecoin and Shiba Inu have received celebrity endorsements. The diversity in the crypto space means that it can be overwhelming for new users looking to invest in popular assets. Toon Finance Protocol, a decentralized exchange pl...

The ongoing FTX saga is proof that the cryptocurrency industry urgently needs to embrace some level of regulatory oversight. News of FTX’s collapse hit the market like a bombshell. The catastrophic damage associated with the event sparked major concerns among many US lawmakers . For them, urgent regulations must be in place to govern the sector. “The crypto sector has been operating with far too much ambiguity because (a) regulators refuse to give well-meaning actors clear guidance and (b) lawmakers refuse to act,” Patrick Toomey, Pennsylvania senator and member of the Republican Party said in a thread. The USA is Way Behind Other US lawmakers including Senator Sherrod Brown, Representative Patrick McHenry, and Representative Maxine Waters, also shared the same perspective. The second black swan event following the LUNA crash held an overwhelmingly bearish outlook on investors with holdings stuck on FTX . As stated by those lawmakers, clear law enforcement is urgently needed ...

In the wake of the week’s events, leading exchange and crypto services provider Crypto.com will publish audited proof of reserves . We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and https://t.co/pFc4Pz9nFR will be publishing our audited proof of reserves. — Kris | Crypto.com (@kris) November 10, 2022 The crypto markets are still reeling from the failure of FTX , but there is no reason to think that the industry as a whole will go the same way FTX and SBF did. Much like the early days of the US capital markets, the crypto markets simply don’t have an evolved regulatory structure, or central banks to backstop markets. In a situation like this, the only thing that can assure confidence is full transparency, and independent oversight. Make no mistake, there will be more fallout in the crypto sector, but established players like Crypto.com understand that in order to avoid further bloodletting, it is time to step up, an...

The deal between Binance and FTX.com didn’t go through as Binance reversed the acquisition. We are witnessing the end of Bankman-Fried’s crypto empire. Top crypto exchange Binance Holdings, is abandoning its purchase of FTX.com, according to a series of the company’s statements on Twitter. The change of thoughts came briefly after Binance CEO Changpeng Zhao announced the company’s plan to take over the world’s second-largest exchange. Binance Cancels Acquisition The shocking news has taken the media by storm. Binance recently revealed the reasons that reversed its decision to pursue FTX.com. According to Binance’s full statement, due diligence efforts failed and Binance was incapable of backstopping FTX or helping, “FTX’s customers to provide liquidity.” In addition, “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisiti...