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FTX goes up in flames and impacts broader crypto business, inflicting regulators to reply: Hodler’s Digest, Nov. 6-12
Coming each Saturday, Hodlers Digest will allow you to observe each single vital information story that occurred this week. The most effective (and worst) quotes, adoption and regulation highlights, main cash, predictions and rather more every week on Cointelegraph in a single hyperlink.
An earthquake rattled the crypto area this week, its affect felt in quite a few associated tales relating to FTX, Alameda Analysis and Binance. Though the unhealthy information got here rolling on this week, suspicions regarding FTXs standing seem to have began on Nov. 2. The issues needed to do with numerous (FTT) held by Alameda (Sam Bankman-Fried, aka SBF, based Alameda and co-founded FTX). By Nov. 6, Binance had determined it might promote its sizable place in FTT. FTX withdrawal points surfaced on Nov. 7, symptomatic of a financial institution run. Binance expressed curiosity in shopping for FTX however declined the acquisition, citing issues on Nov. 9.
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