Amid the FTX and crypto market chaos, Cathie Wood-led Ark Investments has increased its Coinbase (COIN) holdings with a purchase of 237,675 COIN shares worth about $12.1 million on Nov. 9. Of the 237,675 COIN shares, Ark Investment Management added 207,527 shares to its ARK Innovation ETF (ARKK), 22,416 shares to its ARK Next Generation Internet ETF (ARKW), and another 7,732 shares to its ARK Fintech Innovation ETF (ARKF). The tech-focused investment firm’s purchase came after Coinbase stated in response to FTX’s liquidity crisis that it has “minimal exposure” to the now cash-strapped cryptocurrency trading platform with only $15 million …

Chainlink Labs offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs asked “Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge?” #Crypto is at a crossroads. Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge? A better system is possible, & Proof of Reserve is one way #Chainlink is providing the transparency that users demand. — Chainlink (@chainlink) November 10, 2022 In …

Events are unfolding fast as the cryptocurrency market is rocked again, this time by FTX. Facts and non-facts are hard to sort out under these conditions, especially since both seem to be depegged from believability at times. Where’s the money and who’s to blame are popular talking points. Some of the information appearing is indisputably false, or at least highly speculative. The situation has given rise to the opportunity to tell wild tales, such as this tweet that appeared (and disappeared) on Nov 10: A very fake tweet, which has since been deleted. Note the username. Rumors are not alwaysharmless, …

False information spreading online suggested that the president of El Salvador, Nayib Bukele, was seeking the immediate extradition of FTX CEO Sam Bankman-Fried along with Alameda Research co-CEO Sam Trabucco to answer for their crimes of losing the Salvadoran people’s Bitcoin. The CEO of Binance, Changpeng “CZ” Zhao, took to his Twitter account to put these rumors to bed, sharing that “the amount of misinformation is insane” and that he “exchanged messages with President Nayib a few moments ago.” He said that President Buckle told him, “We don’t have any Bitcoin in FTX and we never had any business with …

In light of the FTX liquidity crisis and the almost-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings. On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity for its hot and cold wallet addresses. This comes only two days after the initial tweet from CZ on Nov. 8, in which he pledged to create a proof of reserve mechanism to ensure “full transparency” to the community. Binance released an official statement on the new page, …

While information leaks and unconfirmed reports can be a way for the truth to reach the public, they can also be a tool that fans the flames to grow even further in an already burnt-out crypto market. In a recent article, Reuters claimed that FTX used some of its customer deposits to support Alameda Research from its financial difficulties. Apart from this, the mainstream media outlet also described Binance pulling out of the FTX acquisition as a “failed bid to save crypto.” Apart from this, a message from FTX CEO Sam Bankman-Fried (SBF) was also leaked to crypto podcaster Cobie …

Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis. Armstrong said that the enforcement action against U.S.-based companies for the irregularities committed by an offshore crypto exchange that fall out of the jurisdictions of U.S. regulators makes no sense. Armstrong’s comments came in response to Senator Elizabeth Warren’s call for “aggressive enforcement” in the wake of the FTX crisis. The Coinbase CEO blamed the Securities and Exchange Commission (SEC) for the lack of regulatory clarity in the U.S., which …

All dates are Coordinated Universal Time (UTC). Nov. 2 — Reports SBF-founded company held significant amounts of FTT The saga kicked off on Nov. 2 after reports that a leaked balance sheet from the Sam Bankman-Fried-founded trading firm Alameda Research suggested the company held a significant amount of FTX Token (FTT), the native token of the FTX cryptocurrency exchange. A large trading firm holding so much of one asset concerned the crypto community and brought questions regarding the relationship between Alameda and FTX. Nov. 5 — Trackers pick up significant FTT movement to Binance On Nov. 5 the Twitter account …

Financially-troubled crypto exchange FTX has brought its website back online following a period of intermittent downtime — with the trading platform now sporting a banner confirming withdrawals are halted and advising users against depositing. The FTX website returned online at approximately 9:00 pm UTC on Nov. 9, after encountering five separate periods of network downtime spanning over two hours, according to the “IS IT DOWN OR JUST ME” website. The crypto community on Twitter has also noticed a new bright red banner that can be seen throughout the website that reads: “FTX is currently unable to process withdrawals. We strongly …

The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (ATH) of $10.17 billion on Nov. 9, 2021. TVL measures the total value of all assets locked into DeFi protocols. As TVL increases that means more coins are deposited within the DeFi protocols, and can indicate bullish sentiment, while a …

Investor sentiment in the crypto market is floundering after Binance decided to nix its agreement with FTX to purchase the distressed cryptocurrency exchange. The events have sent Bitcoin to a new yearly low, while other altcoins have also taken a sharp downturn. Data from Cointelegraph shows Bitcoin (BTC) declining to $15,698 amid the chaos caused by FTX’s potential insolvency and the failure of the Binance deal. Analysts are turning to technical charts to try and find the next price path. Analyst expects downside continuation with brief support at $12K Independent market analyst, CanteringClark said that BTC price could possibly find …

On Nov. 9, less than 48 hours before Changpeng Zhao (CZ), CEO of cryptocurrency Binance, announced his intentions to bailout troubled competitor FTX, the firm stated that it would not be pursuing the deal. Binance had signed a non-binding letter of intent on Nov. 8 that allowed the firm to either fully acquire the FTX exchange, proceed with a partial acquisition of assets, or walk away from the agreement. "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 …