Mark Cuban taunts that if he were in Same Bankman Fried’s shoes, he would avoid a long prison term.
Mark Cuban, the billionaire owner of the NBA team Dallas Mavericks and a Shark Tank star, says that using anyone’s money for personal purposes is a very bad thing and even worse not to reveal to the world that former FTX CEOs are doing. They say that I don’t know the whole thing but yes as far as I know I can say that it is not at all good to betray someone for their personal work which they have done and learn from it after making mistakes. Instead it is repeated. He criticizes and gives an argument that if he were in his place, he would try to improve his image.
JP Morgan expects major changes in the crypto industry and regulation after FTX.
JP Morgan outlines and points to a number of changes in the cryptocurrency industry and its related sectors following cryptocurrency exchange FTX. According to him he envisions many regulatory aspects of global investing including custody, client asset protection and focus on transparency etc. He said that there is a need to bring forward the existing regulatory framework and focus on the safety and custody of returnable assets of customers like the financial system.
Amidst civil unrest in China, gold and silver prices stabilized where equity and crypto markets were affected.
The report details that protests against the COVID policy in China have dampened market sentiment and equity markets are struggling with the top four Wall Street indexes pulling global crypto market cap down 3.5% to $800 billion. Very close to falling down. On the other hand, precious metals like gold and silver remained stable overnight and since 3rd November the gold price per ounce has depreciated by 7% against the US Dollar. Some believe that the Federal Reserve chairman will make plans to lower interest rates.
Kevin O’Leary Reveals He Raised Nearly $8 Billion Before FTX Collapsed.
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, explains how he and the SBF raised nearly $8 billion from investors before the FTX collapse and the crypto industry slide where the US Department of Justice and the Department of Securities and Regulatory Affairs, among many other authorities, When the investigation was being done by the interested investors, who were interested in it, disappeared.
Bitcoin, Ethereum Technical Analysis Where BTC, ETH Slower Week as Bearish Sentiment Returns to the Market.
Bitcoin hits a six-day low as the coin hits the $16,000 level. The decline sent prices down for the fifth consecutive session where the cryptocurrency market is bearish and Ethereum was again trading below $1,200 after trading above it in recent days. The USD slipped to an intraday low of $16,086.36, Which comes less than 24 hours after hitting $16,594.41. Ethereum also fell below $1,200 once again to start the week.
Biggest Movers: DOGE down 10%, XRP extends decline.
Dogecoin (DOGE) was down 10% on Monday as traders turned to a safer direction following recent gains. The USD slipped to a low of $0.09302 after hitting a high of $0.1057 on Sunday. The drop saw the coin close to the $0.090 point where it took less than 24 hours to reach a three-week high. Currently, the index stands at 55.20. XRP, which was also in the red at the start of the week, saw the coin fall for the third day in a row and slide to a low of $0.3758 on Monday, taking the price down about 7% from Sunday’s high of $0.4079.
Stablecoin economy is up close to 5% in 2 months which minimizes shedding.
The market capitalization of all stablecoins fell by more than 2%, falling to around $2.98 billion, with Tether, the largest stablecoin by market cap, down 5% over the past 30 days from $69.13 billion last month. USD Coin has seen its market valuation increase by more than 1.5% during the last 30 days. The stock has captured $37.73 during the last 24 hours and the total trading volume among all the crypto coins present today is around $46.56 billion.
Salvadoran Group Files Lawsuit Against President Nayib Bukele Over Lack of Transparency in Bitcoin Purchases.
Cristosel, a non-profit human rights organization, announced that it has filed separate lawsuits against the president, one regarding the use of bitcoin and disclosure of money transactions, and another regarding the lack of due diligence on the accounts. The emphasis was placed on the creation of a control and control organization and the creation of booths and the implementation of all legislation including bitcoin. Some polls suggest that President Bukele is very popular in the country, where bitcoin is a separate issue.
