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By Jack Schickler AccessTimeIconSep 12, 2023 The company says it paid billions to executives including founder Sam Bankman-Fried before filing for bankruptcy last year. The estate of bankrupt FTX has marshalled around $7 billion in assets, including $1.16 billion in solana (SOL) tokens and $560 million in bitcoin (BTC), according to a Monday court filing. The presentation details billions in payments the company – previously one of the world's biggest crypto exchanges – made to senior executives including founder Sam Bankman-Fried, before it filed for bankruptcy in November. The company collapsed after CoinDesk published revelations concerning the state of its balance sheet last year. New CEO John J. Ray III has berated financial controls at the company, while Bankman-Fried has pleaded not guilty to multiple fraud charges, with a trial due to start next month. The company has secured $1.5 billion in cash in addition to the $1.1 billion it held on Nov. 11, and also holds $3.4 billion in crypto as valued at Aug. 31, the document said. That’s in addition to hundreds of millions of dollars worth of over 1,300 lesser known and potentially less liquid tokens such as MAPS and serum (SRM). The presentation also details $2.2 billion in cash, crypto, equity and real estate received by Bankman-Fried and other executives, including Nishad Singh, Zixiao “Gary” Wang and Caroline Ellison, in the months leading up to the bankruptcy. That may be significant because U.S. law allows such payments to be clawed back and added to the stock of assets that can be distributed to creditors. The filing also reports 38 condos, penthouses and other properties in the Bahamas with an estimated value of around $200 million. The company’s new management has attempted to reclaim funds made as donations to politicians and charitable organizations such as the Metropolitan Museum of Art in New York.

By Krisztian Sandor Alternative cryptocurrencies could take a hit as FTX looks to shed its $3.4 billion stash of digital assets, crypto services provider Matrixport noted. Crypto markets tumbled Monday as traders got spooked by the potential selling pressure from bankrupt exchange FTX. Bitcoin (BTC) fell more than 2% and briefly dipped to as low as $24,963 during U.S. morning hours, its first time below the $25,000 level since mid-June. It has pared some of those losses since, now trading at around $25,140, 2.6% lower in the last 24 hours. Ether (ETH), the second largest crypto asset by market capitalization, was down 3.2% on the day, changing hands at $1,560. Altcoins hit hardest on FTX worry Alternative cryptocurrencies – altcoins – are underperforming, led by Solana’s SOL with a more than 8% decline. Toncoin’s TON and layer 2 Arbitrum’s ARB tumbled similar amounts and Ripple’s XRP suffered a 5% loss. The downward action happened as market participants were digesting the possibility of FTX securing approval from bankruptcy court to sell assets from its $3.4 billion of cryptocurrency holdings. Singapore-based digital asset services provider Matrixport noted in a Monday market report that “an altcoin crash is coming” as FTX might start selling tokens as early as this week. SOL is facing the most significant pressure, as FTX holds $1.16 billion worth of that token, CoinDesk reported earlier Monday. That’s nearly 16% of its outstanding supply, according to CoinDesk Indices data. The bankrupt exchange also holds $560 million in BTC and hundreds of millions in lesser known illiquid micro-cap tokens. The firm has already tapped digital asset investment firm Galaxy to assist with the sales.

Why did Thodex Crash? Thodex, established as one of Turkey’s prominent crypto exchanges, met its downfall when it abruptly went offline in April 2021. This left over 400,000 members without access to their digital assets, a total amounting to $2 billion. The dramatic collapse of Thodex resonated widely in Turkey, a nation where cryptocurrency had become a refuge for many against the backdrop of soaring inflation and the plummeting lira. Trial and Sentencing Upon extradition to Turkey, Özer, alongside his two siblings, faced trial in Istanbul. They were charged with leading a criminal organization, money laundering, and massive fraud. Despite Özer’s defence and claims about his genuine intentions behind establishing Thodex, the court delivered its historic verdict. Notably, Turkish courts are known for meting out such extraordinary jail terms. Past examples include cult leader Adnan Oktar’s 8,600-year sentence and Fethullah Gülen’s 1,900-year sentence. Thodex Crash: Financial Ramifications While initial reports speculated that Özer had fled with assets nearing $2 billion, the prosecution estimated the losses to Thodex investors at a then-equivalent of $43 million. Due to Turkey’s economic challenges, including the lira’s freefall and sharp inflation, the same sum is currently valued at approximately $13 million.

Why did Thodex Crash? Thodex, established as one of Turkey’s prominent crypto exchanges, met its downfall when it abruptly went offline in April 2021. This left over 400,000 members without access to their digital assets, a total amounting to $2 billion. The dramatic collapse of Thodex resonated widely in Turkey, a nation where cryptocurrency had become a refuge for many against the backdrop of soaring inflation and the plummeting lira. Trial and Sentencing Upon extradition to Turkey, Özer, alongside his two siblings, faced trial in Istanbul. They were charged with leading a criminal organization, money laundering, and massive fraud. Despite Özer’s defence and claims about his genuine intentions behind establishing Thodex, the court delivered its historic verdict. Notably, Turkish courts are known for meting out such extraordinary jail terms. Past examples include cult leader Adnan Oktar’s 8,600-year sentence and Fethullah Gülen’s 1,900-year sentence. Thodex Crash: Financial Ramifications While initial reports speculated that Özer had fled with assets nearing $2 billion, the prosecution estimated the losses to Thodex investors at a then-equivalent of $43 million. Due to Turkey’s economic challenges, including the lira’s freefall and sharp inflation, the same sum is currently valued at approximately $13 million.

Ethereum isn't just about currency; it's a platform for building decentralized applications (DApps).

Bitcoin's creator, Satoshi Nakamoto,

Anarchy (ANA): The Next Dogecoin? Anarchy (ANA) is setting the fireworks off in the cryptocurrency market with its amazing presale run, and the top players in the meme coin sector are most affected by its blistering success. Anarchy’s central objectives revolve around enhancing its holders’ financial positions so that they are able to pursue their dreams, while criticising the government for its corruption and negligence. The Anarchy (ANA) platform will be a hub for memes that will feature both sarcasm and humour, provoking change in policies from the government, while entertaining the rest of the crypto-verse. While the memes champion the campaign for change, Anarchy’s community will foster innovation on the mainnet. Anarchy (ANA) intends to feature applications that will provide utility for its members and crypto users from other networks. The applications start out as proposals, which the community votes on. Developers will then build the approved proposals, creating DApps for the Anarchy (ANA) network. The dream is to create a network of DApps designed to improve user experience in the crypto-verse, similar to Ethereum and other DeFi tokens. Joining the Anarchy (ANA) project is an investment for profits, both on a short-term and long-term basis.

This Article Gathers 7Cryptocurrencies that have shown strong Performance in the Crypto Market Due to the rise in popularity of digital assets, people are being encouraged to invest in cryptocurrencies. However, due to its volatility, cryptocurrency must be meticulously investigated. In light of this, to help navigate this volatile crypto market for crypto investors a detailed research is carried to determine the best cryptocurrencies to invest in September 2023. The cryptocurrencies featured in this article were chosen based on their performance during the previous 60 days. 1. XRP Current price- US$0.5183 On August 20, 2023, Ripple announced a cooperation with MoneyGram, a significant money transfer business. Through this partnership, MoneyGram will be able to employ Ripple’s technology to improve the speed and cost of international payments. After the SEC ruling’s initial rise, the price of XRP has stabilized. Nevertheless, it is still trading above $0.50, which is a good indicator. 2. Solana Current Price- US$20.28 Solana and Chainlink announced their collaboration in February 2023 in order to introduce decentralised oracles to the network. As a result, Solana applications will be able to access real-world data in a trustworthy and secure manner. A DeFi derivatives platform called Solend was introduced by Solana in March 2023. Users can trade derivatives based on Solana, like futures and options, using Solend. 3. Tron Current Price- US$0.07635 The TRON Foundation revealed in July 2023 that it had raised US$600 million in a fundraising round that was spearheaded by Alameda Research. The money will be used to assist the expansion of the Tron ecosystem, including the creation of new initiatives and institutional and commercial adoption of Tron. Tron crypto connected with the Ethereum Virtual Machine (EVM) in August 2023. 4. Toncoin Current Price- US$1.50 Toncoin introduced an NFT marketplace in March 2023. Users are able to trade, buy, and sell NFTs on the market. Toncoin’s price rose sharply in April 2023, peaking at US$2.90. This resulted from the mainnet’s introduction and the collaboration with Bitfinex. 5. Shiba Inu Current price- US$0.000008122 Shiba Inu introduced Shibarium, a layer-2 blockchain, in August 2023. Shibarium is intended to lower fuel expenses and increase the Shiba Inu network’s scalability. Shiba Inu also has plan to launch Shiberse, its own metaverse. Users can connect with the Shiba Inu ecosystem and one another in the virtual environment Shiberse. 6. Stellar Current price- US$0.1184 To enable cross-border payments utilizing the Stellar network, MoneyGram, a significant money transfer business, and Stellar accompanied in March 2023. Cost of stellar lumens increases. The cost of XLM, the Stellar network’s native coin, has increased recently after reaching an all-time low of US$0.03 in July 2022. 7. Chainlink Current price- US$5.91 Chainlink Keepers, a service that enables users to automate actions on the blockchain, was introduced in March 2023 by Chainlink. After the initial increase following the release of Chainlink Keepers, the price of LINK has stabilized. Nevertheless, it is still trading above $5, which is a good indicator.

Example of false breakouts & how to identify them. #breakouts #fakeout #trading #technicalanalysis #retailtraders

By Kamsi King Bitcoin BSC (BTCBSC) Bitcoin BSC (BTCBSC), inspired by the original Bitcoin project, has emerged as a stake-and-earn cryptocurrency platform integrated with the Binance Smart Chain (BNB). This novel digital currency promotes a long-term token-holding approach, offering passive income opportunities through its staking protocol, which is set to span an impressive 120 years. During the initial three days of its presale, Bitcoin BSC managed to secure over $300,000 in funding, and it aspires to reach a hard cap target of $6 million before the presale phase concludes. In this article, we delve into the key features of this groundbreaking project, explore the advantages of the Binance Smart Chain, and discuss the potential for BTCBSC to achieve a remarkable 10x growth in the future. Bitcoin (BTC) is the most valuable cryptocurrency globally, boasting a staggering market capitalization of over half a trillion dollars. Nevertheless, passive income generation through staking has remained conspicuously absent from the offerings of this immensely popular asset class. Although Bitcoin BSC (BTCBSC) is not a direct successor to Bitcoin, it shares certain fundamental characteristics with a unique twist. Notably, BTCBSC maintains an identical total supply to Bitcoin, with a fixed cap of 21 million tokens. Moreover, it adheres to a block schedule closely mirroring Bitcoin’s, gradually unlocking the entire token supply over 120 years. The BTCBSC presale, which commenced just a few days ago, has sparked significant investor interest, with many eager to acquire tokens priced at $0.99 each. Of the total 21 million token allocation, 6.125 million tokens have been designated for the presale phase. This presale comprises two distinct phases. The initial phase featured the sale of 4 million tokens at $0.99 each. Upon the depletion of these tokens, an additional 2.125 million tokens will become available during the secondary phase of the presale. As outlined in the Bitcoin BSC whitepaper, the project has set an ambitious target of achieving a $6,063,750 market capitalization by the conclusion of the presale. Bitcoin BSC has successfully amassed over $200,000 in funding in mere days since its presale launch. As a result, astute investors may be inclined to seize the opportunity to acquire tokens at this attractive price point. The selection of $0.99 as the presale price is a nostalgic homage to Bitcoin’s historical price point from April 2011, when it traded at just under $1.

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