Jump to content

What actually happened to the Crypto world this week?

Recommended Posts

One of the world’s largest crypto exchanges, FTX, came very close to collapse yesterday, before being sent a support line from Binance for a merger. 

The two said that this was all to do with a liquidity crunch in the sector. IGTV’s Jeremy Naylor looks at the effect of this on all-sessions stock, Coinbase which saw its platform down as people wanted access to their accounts. Tie this in as well to gold, which climbed yesterday as its status climbed above cryptos as a market safe haven.


Link to comment

Bitcoin (BTC/USD) Drops 13% as Binance Back Out of FTX Acquisition

Bitcoin (BTC/USD) Drops 13% as Binance Back Out of FTX Acquisition

Nov 10, 2022 | DailyFX
Zain Vawda, Analyst

Key Points:

  • BTC/USD Slides 13% to Post a New YTD Low.
  • Binance Backs Out of a Deal to Acquire FTX on Rumors of SEC and US Justice Department Investigation.
  • FTX CEO Sam Bankman-Fried Confirms a Shortfall of $8 billion to Investors.

Bitcoin (BTC/USD) Fundamental Outlook

The cryptocurrency space as a whole has experienced a tumultuous couple of days kicked off by fears around liquidity and solvency at FTX, one of the largest players in the space. The resulting impact has seen Bitcoin and a host of altcoins post significant losses as more information came to light including a letter of intent by Binance to acquire FTX. Bitcoin dropped as low as $15650 (November 2020 price) before rallying in Asian trade back above the $16000 handle. The largest crypto by market cap currently trades around the $16400.

  • Like 1
Link to comment
  • 4 weeks later...
On 06/12/2022 at 17:53, andersrer said:

Yes, FTX has never been so close to losing everything. I think Binance has invested a lot in reviving it

Binance has already thought about buying the entire FTX. I can't understand why they doubt the profitability of such a purchase. After all, if FTX becomes part of their small network, they'll be able to think about the Binance metaverse. If I were an exchange owner, I'd most likely talk to experts about promising investments. Although FTX is still where I used to trade, I can consider it part of something new. At the moment, I like what I'm doing. I don't know what the secret of my luck is. I guess I'm always well-informed, thanks to signals and a telegram bot. I know cryptography news before my friends.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 27/03/23 16:31
  • Posts

    • Look Ahead to 28/3/23: Australia retail sales; Ocado, Walgreens Boots Alliance, Micron results Earnings take centre stage on Tuesday with results from Micron Technologies, Walgreens Boots Alliance, Ocado, and Bellway. Watch AUD/USD ahead of Australian retail sales data. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 27 March 2023              
    • #EURUSD: Peculiar PatternI spotted a cup & handle pattern on ⚠️EURUSD on 1H time frame.1.0777 - 1.0783 is its neckline.If the price breaks and closes above that, I will expect a bullish movement.Goals will be 1.0843 / 1.0894If the price sets a new low, the pattern will become invalid.
    • Joshua, where next with this trade, have you closed your position following the continued slide since 13th March?
  • Create New...