✅ Bitcoin Tested Below $16,000 Amid FTX Collapse
Bitcoin tested below $16,000 amid the crisis and subsequent collapse of the FTX exchange. According to CoinGecko, crypto gold has fallen 22% over the past week. At the time of writing, the asset is trading near $16,520.
ETH has also fallen by a significant amount. Just a few days ago, its rate was around $1,700, but ETH was trading down 24.6% intra-week at about $1,240 (at the time of writing).
Other top 10 assets were also in red. Dogecoin (-29.8%) and XRP (-28.7%) showed the worst performance. At the same time, UDST (UDST) traditionally remains at zero.
Actual quotes as of the morning of 11/14:
✅ SEC Is Interested in Promoting Crypto Projects HEX, Pulsechain, and PulseX
The U.S. Securities and Exchange Commission (SEC) has issued subpoenas to influencers promoting crypto projects HEX, Pulsechain, and PulseX. Arcane Crypto CIO Eric Wall announced this on his Twitter.
As required by the subpoena, those receiving it must provide the necessary information by Nov. 15, 2022
✅ Twitter Has Applied To Be a Remittance Operator
The U.S. Financial Crimes Enforcement Agency (FinCEN) received an application from Twitter to work as a money transfer operator. Information about it appeared on the official website of the regulator.
The application says the social network plans to provide financial services in the U.S. and some international territories.
✅ Experts Warned of a Cascade Crisis in the Crypto Industry
The current situation in the crypto industry echoes the events of the financial crisis of 2008. In the coming weeks, the market will expect a more substantial fall. Analysts at JPMorgan Chase & Co expressed this opinion.
They suggested that a cascade of margin calls is coming to the market, given the interplay between the FTX platform, associated company Alameda Research and the rest of the crypto ecosystem.
✅ Tornado Cash Accused of Helping Finance North Korean Nuclear Program
The Office of Foreign Assets Control (OFAC) updated sanctions on cryptocurrency mixer Tornado Cash. According to the agency, the service provided malicious cyber activities, the proceeds of which helped fund the DPRK’s mass destruction weapons program.
The agency has not announced additional restrictions on specific individuals or entities.
✅ Opensea Introduces a Forced Royalty Collection Tool for NFT Authors
NFT marketplace OpenSea is adding a tool that will automatically allow authors of NFT collections to receive royalties on any resales of their tokens.
Thus, the platform has officially decided its stance on the issue of mandatory remuneration for NFT creators.