Breaking News Today Live Updates November and Latest News: (10 November 2022) The global digital asset market is trading under tremendous pressure. The cumulative market cap has dropped by a massive 8% over the past day. It now stands at $833.72 billion.
The major reason behind the crypto bloodbath has been reported to be the meltdown of SBF’s FTX. As per the data, over $100 billion worth of value was wiped out from the market.
Live coverage of the Cryptocurrency market has been moved here: Read live crypto news here.
Highlights
Just-In: SBF Seeks $9.4 Billion Rescue Package for FTX
Sam Bankman-Fried is considering collecting roughly $9.4 Billion as a rescue package for FTX from various crypto stalwarts.
On-chain Data Shows FTX Has Reopened Withdrawals For Customers
As per on-chain tool Nansen, FTX might have reopened withdrawals for their customers. One address shows to have pulled a little over $2 Million.
Rumor: SBF's Alameda Research Is Shorting USDT
In order to recoup a portion of the debt, the rumor mill has it that SBF’s Alameda Research is currently shorting the USDT token. The stablecoin de-railed from its $1 peg by 3% today.
Tron Founder Justin Sun Working With FTX To Resume Withdrawals
Tron’s founder Justin Sun hinted at a potential partnership with crypto exchange FTX. Tron founder said his team is working with FTX on a “wholistic solution” to solve the liquidity crunch at FTX. TRX trading is back on FTX, working on resuming withdrawals.
Crypto Market Crash Live: TRX Trading On FTX Resumes
Justin Sun announced that TRX trading on the FTX, cryptocurrency exchange has been resumed. However, they are still working on the withdrawal function.
Sequoia Capital Marks Its Investment in FTX to $0
Sequoia Capital marking down its investments in FTX to $0 due to bankruptcy risks. The move came as Binance backed out of the proposed acquisition of FTX.
FTX May File For Bankruptcy
FTX CEO Sam Bankman-Fried warned investors in a call on Wednesday that the crypto exchange may be forced to file for bankruptcy if it doesn’t get a cash infusion.
Crypto Market Crash Live: Liquidation Breaches $690 Million
As per the data, 365,205 traders have liquidated more than $694 million in the last 24 hours. The largest single liquidation order happened on Bitmex – XBTUSD valued $10.00M
Bitcoin Dominance On A Major Decline
Bitcoin’s dominance currently stands at 38.23%. It is a decrease of 0.73% over the day.
BTC is trading at an average price of $16,765, at the press time. Bitcoin price is down by 9% in the last 24 hours.
Crypto Market Crash Live: Total Down By 8%
The cumulative crypto market cap has dropped by a massive 8% over the past day. It now stands at $833.72 billion.
The major reason behind the crypto bloodbath has been reported to be the meltdown of SBF’s FTX.
