FTX Linked Crypto Exchange Halts Withdrawals

After FTX announced decision to opt for chapter 11 bankruptcy, a top tier crypto exchange announced it halted withdrawals and deposits. The meltdown of Sam Bankman-Fried related crypto companies has already had a negative ripple on various entities in the ecosystem.

Coinbase Leads XRP Price Surge

XRP Price Surge: Judge Analisa Torres on Tuesday granted Coinbase’s request to file Amicus Brief in the support of Ripple Fair Notice Defense. This major update in the Ripple lawsuit has directly pushed the XRP price to shoot up. However, this has also spiked the whales’ interest in the XRP.

OKX Announce Crypto Market Recovery Fund

Crypto exchange OKX on Tuesday announced $100 million in recovery funds to support projects with liquidity issues and to migrate from Solana. Binance CEO “CZ” earlier announced a similar industry recovery fund as the crypto market continued to drag lower amid the FTX crisis.

FTX Hacker Address Receiving Crypto Assets From FTX Wallets

FTX Drainer address 0x59A…32b still receiving crypto assets from FTX and FTX US wallets even 3 days after the hack. Moreover, FTX Accounts Drainer has received almost 21,155 ETH from other FTX Drainer Accounts. It is believed ETH will be dumped soon.

Judge allows more Amicus to file in support of Ripple

Judge Analisa Torres has granted motions to file Amici Briefs to multiple backers of Ripple and the SEC.

The judge has allowed 11 applicants to file Amicus Brief in the XRP lawsuit. The list holds the name of the Association, six XRP holders, Coinbase, Valhil, Cryptillian, Veri DAO, the CCI, Reaper Financial, InvestReady, NSEI and Paradigm.

Saint Kitts Aims to adopt Bitcoin Cash as Legal Tender

After El Salvador, Saint Kitts and Nevis plans to adopt Bitcoin Cash (BCH) as a legal tender. In a conference, the prime minister and finance minister of the nation, Terrance Drew, unveiled their plan to propose BCH as a legal tender by next March.

Cathie Wood’s Firm Warns Of Domino Effect of FTX

Ark Investment called FTX’s insolvency one of the most damaging events in crypto history. Cathie Wood’s investment management firm believes FTX collapse could delay institutional crypto adoption by years.

In a newsletter, the firm’s analysts wrote that FTX insolvency will give a reason to regulators to take draconian measures.

SBF Makes Cryptic Tweets

FTX’s Ex Boss, Sam Bankman-Fried (SBF) has made some cryptic tweets after the mega collapse. However, in the latest tweets, he completed his past comments. He spelled out the words ‘WHAT HAPPENED”.

Crypto Market Shows Recovery; Up By 5%

The global cryptocurrency market has shown some signs of recovery after a huge dump.

The cumulative crypto market cap is up by almost 5% over the past day. It now stands at $843 billion. The 24 hour trading volume is also up by 28.4% to stand at $81.1 billion.