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Most digital assets traded lower on Wednesday as another crypto firm gets hit by the FTX contagion, although institutional investors may be looking for bargains.
The record discount in the front-month bitcoin futures traded on the CME indicates institutions are biased bearish. The discount may attract arbitrageurs.
A new analysis shows how correlations have increased on various sectors of the 162-asset CoinDesk Market Index (CMI) amid widespread crypto distress following the collapse of Sam Bankman-Fried's FTX exchange. U.S. stocks, meanwhile, look unfazed by it all.
The crypto exchange FTX filed for bankruptcy Friday, leaving users’ funds stuck on the platform, and one marketplace for distressed claims posted bids for a fraction of the original value of claims.
The Serum token price rose as high as 32 cents, from a low of 12 cents just two days ago, as community members of the decentralized exchange scrambled to implement an emergency fork in the wake of security concerns triggered by the hack of Sam Bankman-Fried's FTX exchange.