Some non-whale Bitcoin (BTC) investors seem to have had zero issues with the cryptocurrency bear market as well as fear, uncertainty and doubt (FUD) around the fall of FTX, on-chain data suggests. Smaller retail investors have turned increasingly bullish on Bitcoin and started accumulating more BTC despite the ongoing market crisis, according to a report released by the blockchain intelligence platform Glassnode on Nov. 27. According to the data, there are at least two types of retail Bitcoin investors that have been accumulating the record amount of BTC following the collapse of FTX. The first type of investors — classified …

The FTX contagion saga sees new revelations around its misconduct every other day, and the latest one solidifies the collusion between the failed crypto exchange and its sister company Alameda Research from the very beginning. FTX like many other crypto exchanges found it difficult to get a banking partner to process fiat transactions- as banks have been hesitant to tie up with crypto exchanges due to a lack of regulatory oversight. FTX overcame this problem by using its sister company’s banking accounts to process transactions for the crypto exchange. Former CEO of FTX Sam Bankman-Fried confirmed in a conversation with …

The National Bank of Ukraine (NBU) has introduced a draft concept for its central bank digital currency (CBDC) candidate digital hryvnia, or e-hryvnia. Ukraine’s central bank on Nov. 28 released a statement on the concept of e-hryvnia, which aims to perform all the functions of money by supplementing cash and non-cash forms of the hryvnia as its key purpose. The NBU said it has presented the e-hryvnia concept and continues developing the CBDC project with participants of the virtual assets market, payment firms and state bodies. According to the announcement, the central bank is currently considering and developing three possible …

Crypto executives and politicians are becoming louder in their calls for crypto regulation as the aftermath of the FTX collapse continues to reverberate through the industry. In just the last 24 hours, the European Central Bank (ECB) president Christine Lagarde called regulation and supervision of crypto an “absolute necessity” for the European Union, while United States House Financial Services Committee Chair Maxine Waters announced that lawmakers will explore the collapse of FTX in a Dec. 13 inquiry. On Nov. 28, United States Senator and crypto supporter Cynthia Lummis described the collapse of FTX as a wake-up call for congress, according …

Being three weeks removed from the FTX collapse, Bitcoin (BTC) analysts are combing through data to decipher whether more selling will continue or if a bear market floor has been reached. One thing miners, short-term and long-term holders have in common is they are losing in the Bitcoin market right now. According to on-chain analysis from Glassnode, the scale of both realized and unrealized losses amongst Bitcoin holders is one of the heaviest capitulation events in BTC’s history. Capitulation is hindering all groups from the increasing number of bankruptcies and dwindling miner revenue. Bitcoin’s realized losses fourth largest on record …

The fallout from the collapse of FTX spans beyond the Web3 and crypto ecosystem. Reports gathered by the Financial Times suggest that nightclubs in Miami have been negatively affected by the collapse of the once-reputable cryptocurrency exchange. According to nightclub owners, young, nerdy crypto bros went from lavishly spending on champagne showers and buying $50,000 tables at clubs to completely vanishing from the nightlife scene. Andrea Vimercati, director of food and beverage at the Moxy Hotel group, told the Financial Times: “They were ordering 12 or 24 bottles of the most expensive champagne and just showering themselves without even drinking.” …

Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls' hope that the 7% gains between Nov. 21 and Nov. 24 were enough to mark a cycle low at $15,500. The most likely culprit was an unexpected transfer of 127,000 BTC from a Binance cold wallet on Nov. 28. The huge Bitcoin transaction immediately triggered fear, uncertainty and doubt, but the Binance CEO, Changpeng Zhao, subsequently announced it was part of an auditing process. Regulatory pressure has also been limiting BTC’s upside …

On Nov. 28, users of decentralized finance, or DeFi, lending platform Compound Finance passed a proposal to impose restrictions on the maximum borrowing of 10 tokens on the protocol. The proposal was put forth by financial modeling firm Gauntlet and passed with a majority "Yes," although total turnout amounted to less than 7% of the COMP tokens in circulation. Most notably, tokens such as Uniswap (UNI) and COMP had their borrow limits slashed from 11,250,000 and 150,000 to 550,000 and 18,000, respectively. Other less liquid altcoins on Compound, such as year.finance (YFI), had its borrow cap reduced from 1,500 to …

According to a new Twitter post by Ryan Selkis, CEO of blockchain research firm Messari, Grayscale Bitcoin Trust's (GBTC) controlling shareholders Genesis Global and Digital Currency Group cannot simply "dump" their holdings to raise more capital. Selkis explained that the restrictions are due to Rule 144A of the U.S. Securities Act of 1933, which forces issuers of over-the-counter, or OTC, traded entities to give advance notice of proposed sales, as well as a quarterly cap on sale of either 1% of outstanding shares or weekly traded volume. 2/ DCG bought nearly $800mm worth of GBTC shares since the premium flipped …

Decentralized lending protocol, MakerDAO, has voted against crypto investment firm CoinShares' proposal to invest between 100million and 500million worth of the community’s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an investment strategy. 72.43% of the community votes went against CoinShares' proposal to invest MakerDAO’s funds into various traditional assets. If the community had voted in favor of CoinShare’s proposal, the crypto investment firm would have provided “a variable APY above the SOFR interest rate (3.01% as of October 26, 2022) in the community’s preferred currency (DAI, USDC, USD…) to MakerDAO'', which would have …

China witnessed a spike in Covid cases and that has resulted in strict lockdown restrictions in several parts of the country. This triggered widespread protests in China and has possibly pulled the global stock markets lower. In addition to the turmoil in China, the cryptocurrency markets, which are already in a bear grip, are reeling under pressure from the Chapter 11 bankruptcy filing by BlockFi and its subsidiaries. Bitcoin (BTC) is down 21% in November, on track to its worst November performance since 2018. The sharp fall in Bitcoin’s price has drastically reduced the number of wallets holding more than …

On November 28, blockchain gaming accelerator Game7 announced that it would allocate $100 million in open-source technology grants to upcoming Web 3.0 startups. As told by the Game7, distributions will support individuals and entities building blockchain games, smart contracts, core software infrastructures, and community tooling. The grants will be paid in USD Coin (USDC). What's first? Open source technology grants are the first to launch - and we'll be supporting individuals, DAOs, and companies working on: Game development tooling Smart contracts and standards Core infrastructure Community tooling — Game7 (@G7_DAO) November 28, 2022 Beyond the initial funding, the team said …