Bitcoin price analysis shows price decline deepened a further 4 percent over Monday’s trade, as price went down to $16,200 (roughly Rs. 13.1 lakh). BTC has been in consistent decline since November 6, and a further 4 percent decline could push price to test the $16,000 (roughly Rs. 13.1 lakh) support mark.

At least $1 billion (nearly Rs. 8,050 crore) of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter. The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion (nearly Rs. 80,500 crore) of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, the people told Reuters.

FTX said on Saturday it was moving funds into offline storage following a series of “unauthorised transactions”, with analysts saying millions of dollars worth of assets had been withdrawn from the platform. Miller also tweeted that he was “investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges.”

Crypto exchange FTX filed US bankruptcy proceedings on Friday and Sam Bankman-Fried stepped down as CEO, after a rapid liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. The distressed crypto trading platform had been struggling to raise billions in funds to stave off collapse after traders rushed to withdraw…

Crypto lending company BlockFi announces that it is pausing client withdrawals, asking customers not to deposit to BlockFi Wallet or Interest Accounts at this time.

Subway, is accepting Bitcoin again, but this time it’s using the fast, nearly free Bitcoin Lightning Network. Customers can now quickly scan a Lightning-enabled QR code allowing fast, low-cost, and frictionless payments.

Indian crypto exchange Giottus has agreed to provide proof of reserves to add another layer of transparency to its business operations in the country. Cryptocurrencies were slammed this week after the FTX exchange was thrown into turmoil this month due to lack of liquidity. Amid the chaos, Giottus has said that it was ready to provide proofs of internal finances to ma…

Over sixty more employees working in Coinbase have been laid off by the company amid the ongoing crypto downturn. The development comes just days after Coinbase’s transaction revenue slipped down by 44 percent in the third quarter of 2022.

The overall crypto market rose by 4.24 percent in the last 24 hours, following which, many cryptocurrencies, opened with gains today. Along with BTC and ETH, Ripple, Cardano, Polygon, and Polkadot — all opened with gains. Stablecoins such as Binance USD and USD Coin saw losses.

FTX was rocked by a dramatic series of events this week, centred around the crisis-hit platform’s lack of liquidity. A deal with rival Binance fell through earlier this week, and the ongoing saga is reverberating across the global cryptocurrency landscape. From the impact of the collapse on rivals, to the chances of regulatory scrutiny, here’s everything you need to k…