Read in the Digest:
- Market wrap: BTC, ETH recovers, Litecoin (LTC) hits new six-month high
- Curve (CRV) jumps 75% amidst record CRV held on centralized exchanges
- Binance steps into national politics, forming an Innovation PAC
- FTX’s first hearing reveals the Cayman Islands and BVI had the most customers
- Genesis hires restructuring experts as it fights to avoid bankruptcy
Kết thúc thị trường: BTC, ETH phục hồi, Litecoin (LTC) chạm mức cao mới trong sáu tháng
The cryptocurrency market has rebounded after dropping to a new two-year low in the early hours of Tuesday. Bitcoin, the world’s biggest crypto, is up by 5.1% over the last 24 hours, shooting up from $15,600 to as high as $16,600.
Biểu đồ giá 24 giờ cho Bitcoin (BTC). Nguồn: CoinMarketCap
Với toàn bộ thị trường crypto phá vỡ mô hình giảm dần, Ethereum (ETH) đang vượt trội so với đối thủ lớn nhất của nó, BTC, tập hợp 7.8% trong 24 giờ qua để giao dịch cao tới 1,175 USD từ mức thấp 1.081 USD.
The 24-hour price chart for Ethereum (ETH). Source: CoinMarketCap
Litecoin (LTC) là mức tăng lớn nhất hiện nay, khi cryptocurrency tiếp tục tỏa sáng trong bối cảnh hỗn loạn FTX gây ra. Trong 24 giờ qua, Litecoin đã tăng 28% để chạm mức cao mới trong sáu tháng ở mức 81,56 USD.
Biểu đồ giá 24 giờ cho Litecoin (LTC). Nguồn: CoinMarketCap
LTC đã tăng trên 43%, từ $55 lên $79, trong tháng này. Cuộc biểu tình từ Litecoin đến với dự đoán phần thưởng khai thác mỏ thứ ba của mạng lưới giảm một nửa, điều này sẽ cắt giảm tốc độ mở rộng nguồn cung của LTC xuống 50%.
Flipsider:
- Khi cuộc tranh luận về việc phân loại cryptos tiếp tục ông chủ của MicroStrategy, Michael Saylor, đã nói rằng Litecoin có khả năng là một mặt hàng như Bitcoin.
Why You Should Care
The rally is an encouraging sign for investors that the crypto market has possibly gone past the market crash ignited by the FTX collapse.
Curve (CRV) jumps 75% amidst record CRV held on centralized exchanges
CRV, the native token of Curve Finance – a decentralized exchange for stablecoins – has erupted in the market, rallying by more than 75% to wipe off its Tuesday losses when the token sank to a two-year low.
The price spike saw CRV move from a low of $0.4096 on Tuesday, to a peak at $0.7239. Although the rally has cooled off, CRV maintains a 26% gain over the last 24 hours as the token now trades at $0.625.
The 48-hour price chart for Curve DAO Token (CRV). Source: CoinMarketCap
tăng trưởng của Curve xuất hiện trong bối cảnh số lượng đồng tiền được tổ chức tại các sàn giao dịch tập trung (CEX). Số lượng thẻ CRV trong CEx tăng 46% trong 24 giờ qua và 70% trong tháng này để đạt kỷ lục 148,9 triệu CRV.
According to data tracker Lookonchain, the surge was brought about by a large investor who recently borrowed 20 million CRV from the DeFi lending giant Aave and transferred half of it to OKEx, possibly to sell the token.
Flipsider:
- Lookonchain also reported that Curve Finance suffered a major short-seller attack, with the hacker using the medium to exploit a sophisticated loophole on Aave.
Binance steps into national politics, forming an Innovation PAC
The U.S. subsidiary of the world’s largest crypto exchange has launched a political action committee (PAC), signaling its intention to fill the void in the crypto industry’s political involvement left by FTX’s Sam Bankman-Fried.
The committee was formed by Binance.US with a filing to the Federal Elections Commission dated Monday, November 21st. The formation of the Binance Innovation PAC follows the conclusion of congressional elections.
Although Binance did not provide detailed information on what its intention is, it is more than likely that the Innovation PAC will support crypto-forward lawmakers who align with its mission.
The announcement comes after Binance.US appointed Krishna Juvvadi as head of the legal department. The hire resonates with the company’s plans to boost its legal and compliance community.
Flipsider:
- Binance’s rival, Coinbase, revealed a PAC earlier this year. It was similarly called Coinbase Innovation PAC, but only managed to raise $38,000.
Why You Should Care
The Binance.US Innovation PAC is the latest vehicle the crypto industry seeks to use to influence the enactment of crypto-friendly regulations.
FTX’s first hearing reveals the Cayman Islands and BVI had the most customers
The bankruptcy filing of FTX earmarked the most complicated process in the crypto ecosystem, as the company had more than 102 different court dockets. After more than a week of scheduling, the first hearing happened on November 22nd.
A document presented at FTX’s first bankruptcy hearing shows that the Cayman Islands had the most FTX users, accounting for 22% of the exchange’s global users before the collapse of the company.
The British Virgin Islands had the second largest number of FTX users, contributing 11%, the U.K. and China accounted for 8% each, Singapore contributed 6%, while South Korea and Taiwan contributed 4% and 3% respectively.
The U.S. accounted for only 2% of the global total. Previous reports show that FTX Trading could have over one million creditors. The company currently owes its 50 largest creditors about $3.1 billion.
Flipsider:
- The court in its first hearing said that Sam Bankman-Fried ran FTX as a ‘personal fiefdom’, leading to the collapse of the crypto exchange once valued at $36 billion.
Why You Should Care
The bankruptcy hearing provides insight for the crypto community into what was going on with the bankrupt crypto exchange.
Genesis hires restructuring experts as it fights to avoid bankruptcy
Struggling crypto lender Genesis Global Capital has hired specialists from Moelis & Company to consider restructuring options, just days after it said there were no imminent plans for bankruptcy.
According to people familiar with the matter Moelis & Company, restructuring experts whose services were employed by Voyager, will help Genesis explore all options, which could include bankruptcy.
However, they stressed that at this time no financial decisions have been made in Genesis and it is still possible for the company to avoid a bankruptcy filing.
Genesis is reportedly seeking to raise $1 billion from investors to cover a shortfall that originated from the “unprecedented market turmoil” and the company’s exposure to the collapsed crypto exchange FTX.
Flipsider:
- According to a new Bloomberg report, the troubled lending firm Genesis has approximately $2.8 billion in outstanding loans on its balance sheet.
Why You Should Care
Despite being under pressure from its creditors since the crypto exchange FTX collapsed early this month, Genesis attempts to quell investor fears.
