DeFi platforms see profits amid FTX collapse and CEX exodus: Finance Redefined
The bears were in control for the second week after FTX collapse, leading to a market-wide dismal performance including top 100 DeFi tokens.
The bears were in control for the second week after FTX collapse, leading to a market-wide dismal performance including top 100 DeFi tokens.
The Solana cryptocurrency continues crashing amid the FTX crisis, plummeting 7% on the news of exchanges halting deposits in Solana-based stablecoins.
Authorities in both countries are reportedly in conversation about whether to bring the former FTX CEO back to the United States.
The crypto market might see “second-order effects” from counterparties that may have lent or interacted with either FTX or Alameda.
In the latest bankruptcy filing for the exchange, it was revealed that there may be 1 million creditors, rather than the 100,000 initially estimated.
Wallets tied to FTX and FTX US have seen $659 million in cumulative outflows over the past 24 hours, according to Nansen.
The wallet address in question received funds from various international and U.S.-based wallets linked to FTX, which amassed over 83,878.63 ETH (worth over $105.3 million) in just two hours.
The DeFi market faced the heat of the FTX turmoil as well with the majority of tokens and projects registering a blood bath over the past week.
The California DFPI announced it will open up an investigation as to the “apparent failure” of FTX and says it takes this oversight very seriously.
Exciting times lead to exciting posts, many of which bring up valid questions, and maybe some less valuable answers.