Crypto news: We bring you a round up of what’s been happening in crypto this week. And, spoiler alert, FTX features prominently again.
O’Leary Jumps the Shark
FTX continues to spread its acrid pall, so you’d think once bitten, twice shy. Not for Shark Tank’s Kevin O’Leary. Firstly, he dropped the bombshell that he was happy to keep his crypto on exchanges. And secondly, he said he would still back former CEO Sam Bankman-Fried if he had to. A brave man indeed.
Although admittedly, that statement did come with a significant caveat – he wouldn’t give him operational control of any assets, just the trading control. In another surprise, he revealed Canada as his preferred exchange destination because the country offers “the most advanced regulatory environment.”
Maybe, but it was only nine months ago that the country enacted emergency powers to regulate cryptocurrency platforms. A move that was condemned by critics as undemocratic. How times change.
And if that wasn’t enough, he also picked a fight with heavyweight crypto influencer Ben “BitBoy” Armstrong. It seems Armstrong was unhappy with O’Leary’s support for Bankman-Fried, with the whole unedifying spectacle threatening to take over Twitter.
Ripple Splashes the Cash?
Like flies around honey (or maybe something else), the prospect of snapping up cut-price FTX assets is proving attractive to both Ripple and Tron. For Ripple CEO Brad Garlinghouse, the acquisition could be a good way for the San Francisco-based company to expand its business, with FTX having stakes in over 100 companies. Or maybe they have some inside knowledge of how the Securities and Exchange case is going and expect to come into money…
Justin Sun, CEO of Tron, has been splashing the cash lately. Hot on the heels of his acquisition of Huobi exchange, Sun threw his hat into the ring and also expressed an interest in having a piece of the FTX pie. Looks like a three-way race with Binance CEO Changpeng “CZ” Zhao already expressing an interest (after precipitating the exchange’s collapse in the first place).
But No Cigar…
While many crypto holders were frantically offloading their stash to cold storage, Mark Cuban went further. In the wake of FTX, he also offloaded a bunch of Twitter accounts he had been following. Some of the accounts that the Dallas Mavericks owner said farewell to included Nansen, Uniswap, Solana, The Block, DeFi Pulse, Dapper Labs, and MetaMask.
This is a curious decision as the billionaire has spent the past couple of years building a burgeoning portfolio of crypto companies. The blockchain category on his website lists 28 crypto firms and projects. However, in Sept, he said crypto was “kind of boring.” He compared it to the early days of the internet when not much happened. Most of his most recent tweets revolved around support for Elon Musk’s Twitter takeover and subsequent decisions.
Now we all love a good bargain. And let’s face it, in the cryptosphere there are many to be had at the moment (and we’re not talking about FTX’s assets). But as today is Black Friday, BeInCrypto sifted through the charts to bring you 10 cheap cryptos that show potential. These included ApeCoin, Tamadoge, and our old friend XRP.
And to keep your stash safe offline, what better than a cold wallet?
This Week in NFT Sales
This week saw the start of the FIFA World Cup 2023 in Qatar. Thankfully, for those interested in non-fungible tokens (NFTs) there was reason to cheer. After witnessing a 30% drop in the aftermath of FTX, this week saw a limited recovery. Bored Ape Yacht Club took the top slot with nearly $20 million in sales volume.
Crypto Coin News
It was a mixed bag in terms of price action this week, with the biggest gainers jumping more than 20%. Curve DAO Token (CRV) price was up 21.70%. On Nov. 22, there was a growing number of short bets on CRV, so it is possible that the bounce happened as a result of a short squeeze.
The recent bullish run that Litecoin (LTC) has charted is partly due to the upcoming mining reward halving scheduled in eight months. This would be the third halving event for LTC and is set to have a positive change in the coin’s supply dynamics. LTC price is up 20.84%.
The biggest losers this week included Chiliz (CHZ), which managed to undo the gains it made the previous week, tumbling a thumping 28.28%.
Crypto News, Socially Speaking
The Future is Green
This week BeInCrypto met Mariusz Popławski, CEO of EcoWay, who operates one of the largest ecological “farms” in Europe for mining energy-saving cryptocurrencies of the future.
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