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Eyes turn to Grayscale Bitcoin Trust after FTX collapse; Cardano to launch fiat-backed stablecoin in 2023

CryptoSlate Wrapped Daily: EU readying regulations on DeFi; Bitcoin mining difficulty reaches new ATH

The biggest news in the cryptoverse for Nov. 18 includes fears of possible Grayscale bankruptcy, Bahamas’ attempt to acquire FTX’s funds, and SafePal’s 125% spike as a result of the increasing popularity of non-custodial wallets. 

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Community fears FTX implosion might affect Grayscale

Grayscale Bitcoin Trust (GBTC) shares declined by 74% on the year-to-date metric and are being traded for around $8.75.  Its shares are selling at a record discount of 42.69%.

Upon this decline, the community ponders if Grayscale is in trouble following the FTX collapse. GBTC currently holds over 635,000 Bitcoins (BTC) and 3,1 million Ethereum (ETH). The total amount of these coins equates to $13.7 billion.

Bahamas watchdog ordered FTX to send digital assets to its wallet

On Nov. 18, Bahamas’ Securities and Commission admitted ordering FTX to transfer its digital assets to a wallet that belongs to the Commission.

The commission announced this attempt via a media release, which it shared on its official Twitter account. The commission said that this was an attempt to safekeeping the assets and  “was necessary to protect the interests of clients and creditors.”

Binance-linked non-custodial wallet tokens see massive growth over the past week

Binance-backed non-custodial wallet provider SafePal’s native token SFP has increased by 125.96% in the last seven days, indicating that the FTX collapse started a “not your keys, not your coins” trend among the crypto community.

The SFP is being traded for $0.743 after increasing by 16.97% over the past 24 hours.

CertiK investigates KYC actors hired to scam the web3 community

DeFi-focused security platform CertiK’s investigation revealed the existence of professional KYC actors who specialize in bypassing KYC processes.

They are defined as individuals who trick KYC processes on crypto platforms to sneak in and gain the trust of the community before attempting to scam.

Canada’s largest pension fund writes off $95M FTX investment

In the previous weeks, Canada’s largest pension fund, Ontario Teachers revealed that they were one of the investors in the bankrupt exchange FTX, without mentioning the size of its investment.

On Nov. 17, the fund disclosed that it invested $95 million in FTX on two different occasions. Its first…

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