The biggest news in the cryptoverse for Nov. 7 includes Bitcoin mining difficulty’s decrease by 0.19%, Binance’s decision to liquidate all its FTT holdings, and FTX CEO Sam Bankman-Fried’s assurance that the exchange is not going bankrupt.
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Bitcoin mining difficulty barely adjusts downward by 0.19% as miner pressure continues
Bitcoin’s (BTC) mining difficulty was adjusted on Nov. 7 and recorded a small 0.19% drop.
The most recent adjustment before this was on October 24, when the mining difficulty recorded a new all-time high, reaching 36.84 trillion. The 0.19% drop retreated it back to 36.76 trillion.
Fears of Terra Luna style collapse of FTX native token FTT as Binance liquidates its holdings
Binance’s CEO Changpeng Zhao (CZ) Tweeted on Nov. 6 and said that Binance would liquidate all FTX native tokens (FTT) it held because of “revelations that came to light.” Binance had over $500 million in FTT tokens at the time of CZ’s Tweet.
This kindled the discussions of FTX’s possible collapse and dropped the FTT token down by 9.4% in one day.
SBF says ‘FTX is fine. Assets are fine’ with over $1B in excess cash amid rumors of liquidity crunch
FTX‘s CEO, Sam Bankman-Fried (SBF), noticed Binance’s decision to liquidate its FTT reserves and published a thread to address concerns regarding FTX’s bankruptcy.
1) A competitor is trying to go after us with false rumors.
FTX is fine. Assets are fine.
Details:
— SBF (@SBF_FTX) November 7, 2022
SBF ensured the community by saying that FTX “has enough to cover all client holdings” and called out to Binance’s CZ to work together for the ecosystem.
Over 50K BTC from Silk Road worth officially seized by DOJ after 10 year investigation
The U.S. Department of Justice officially seized 50,676 Bitcoin in connection with the 2012 Silk Road fraud. The amount equates to roughly $1.05 billion today.
The prosecutors said that the Bitcoins were found hidden in devices belonging to Silk Road attacker…
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