Business Maverick: Cryptocurrencies plunge as doubts about FTX-Binance deal grow

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 84%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Cryptocurrencies tumbled anew as news around Binance’s potential takeover of rival exchange FTX started to sink in and renewed trader concerns that there is trouble brewing within the industry and among some of its top players.

Binance CEO Changpeng “CZ” Zhao stunned the crypto world on Tuesday with an announcement that his firm was moving to take over rival FTX.com, whichwas seeing a liquidity crunch. Market-watchers linked the jitters to a Zhao tweet that the letter of intent between the two parties was nonbinding.

FTT, the utility token of crypto exchange giant FTX, collapsed by more than 75% to around $4.70 as of lat afternoon in New York,“It’s definitely having to do with a renewal of this crisis that’s being created by FTX, a renewed solvency crisis,” said Strahinja Savic, head of data and analytics at FRNT Financial. “And we still don’t know if this thing with FTX is over and how it will end.”

Terms of the emergency buyout were scant, with Binance saying the agreement came after “a significant liquidity crunch” befell FTX and the firm asked for its help. “SBF and FTX were the biggest patrons of solana. This era is over. Binance has taken over, and they will heavily favour the BNB chain over Solana. Alameda had about $1-billion in locked and unlocked $SOL which they’ll have to sell if insolvent. This puts a huge sell pressure on $SOL.” said Teng Yan, a researcher at digital-asset research firm Delphi Digital, on Twitter.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 3. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

How to reach South Africa’s biggest business audienceBusinessTech is the best place to reach South Africa’s key business decision makers, thanks to its position as the largest and most influential business news website in the country.
Fonte: BusinessTechSA - 🏆 24. / 61 Consulte Mais informação »

Business Maverick: Australia launches review into former pilots training Chinese militaryAustralia will launch a review into the obligations former Defence Force personnel have to protect state secrets, following reports Australians were among Western military pilots who had been approached to help train the Chinese military.
Fonte: dailymaverick - 🏆 3. / 84 Consulte Mais informação »

Business Maverick: SEC’s WhatsApp probe reaches into private equity with Apollo, Carlyle, KKRFinancial regulators are looking at the biggest private equity firms’ use of WhatsApp and other messaging apps for work, in a signal that the US is ramping up its push to police Wall Street’s electronic communications.
Fonte: dailymaverick - 🏆 3. / 84 Consulte Mais informação »