A post from Sam Bankman-Fried’s (SBF) X account is stirring the crypto community once again, this time claiming that FTX never needed to file for bankruptcy in the first place. Summary Sam Bankman-Fried’s X account posted a 15-page document titled “FTX: Where Did The Money Go?” The document claims FTX faced a liquidity crisis, not … Read more
Binance has confirmed that it reimbursed $283 million to users affected by a recent wave of liquidations triggered by asset depegging during sharp market volatility. The compensation was issued after USDe, BNSOL, and wBETH briefly lost their pegs, leading to a cascade of liquidations across several trading products. According to Binance, the reimbursement process was … Read more
Let’s try to answer why the crypto market is down today. Yesterday, the U.S. Producer Price Index (PPI) for July rose 0.9% month-over-month and 3.3% year-over-year, far above forecasts of 0.2% and 2.5%. It was the largest monthly jump since June 2022, fueled by rising service costs in machinery wholesaling, portfolio fees, hospitality, and freight, … Read more