FTX exchange has filed for Chapter 11 bankruptcy protection, with FTX US and Alameda Research also looking to obtain bankruptcy protection themselves.
November 11, 2022 | | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $16,778 | Bitcoin price is back down below $17,000 following a spike to $18,000 yesterday, as wider effects of the FTX collapse become clearer. | Top-20 altcoins are almost all down for the day, as Ethereum falls 6%, BNB drops 8% and Uniswap stands out with a 1% gain. | Top Stories for November 11, 2022 🔥 | | FTX exchange has filed for Chapter 11 bankruptcy protection, with FTX US and Alameda Research also looking to obtain bankruptcy protection themselves. Sam Bankman-Fried has also decided to step down as CEO of the exchange. | The filing by Alameda Research says the firm has over 100,000 creditors, with between $10 billion and $50 billion each of assets and liabilities. | Around 100 other corporate entities affiliated with FTX have also filed for bankruptcy protection, excluding LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd. and FTX Express Pay Ltd. | | The massive market volatility brought on by FTX's collapse has turned Ether (ETH) deflationary, as ETH burns have turned the coin's annualized inflation rate negative. | In absolute terms, Ether's overall supply has decreased by almost 5,600 ETH since the network's transition to proof-of-stake (PoS). Without the upgrade, Ether's supply would have now increased by nearly 670,000 ETH. | | Bitcoins that have laid dormant since 2011 have been moved for the first time in over a decade, being transferred to new addresses. | A total of 3,500 BTC in 500 BTC lots were moved for transaction fees equivalent to just $2 each. The new wallets have altered the address format from pay-to-public-key-hash (P2PKH) to pay-to-script-hash (P2SH), indicating a possible shift to multi-sig or use of an additional password layer. |
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