Deal out! Binance withdraws bid on FTX as bitcoin falls to $15k

Deal out!  Binance withdraws bid on FTX as bitcoin falls to $15k

Click Here To See The Best Crypto Presales That Could Increase 10X This Year!

The market dropped: Binance withdraws the offer to buy FTX. Bitcoin fell to $15,000 as a result.

Binance does not buy FTX

Binance is withdrawing from the FTX business, citing “mishandled customer funds” and regulatory oversight. On November 8, the exchange announced its intention to buy FTX, but noted that it had to do due diligence first. A day later, Binance announced that the takeover would no longer be pursued.


US authorities launched an investigation into FTX – and that changed Binance’s mind. In the last 24 hours, $861 million worth of cryptocurrencies have been liquidated in the market. Of that, Bitcoin (BTC) short positions accounted for $259 million, which helped push Bitcoin down to $17,000.

Bitcoin options traders turned bearish

The Options Put/Calls Open Interest Ratio (OIPCR) shows that investors are inclined to buy, indicating a bearish market sentiment.

The OIPCR is calculated by dividing the total number of open calls by the total number of open calls on a given day. It has grown since the eruption of the FTX crisis. However, he didn’t see his extremes like he did during Luna’s fall.

Crypto Exchanges Issue “Proof of Reserves”

After the market explosion due to the FTX crisis, Binance CEO Changpeng Zhao has emphasized that exchanges should publish proof of Merkle tree reserves to prove that they are not insolvent.

Following Zhao’s lead, several leading exchanges including OKX, Huobi and KuCoin said they intend to release their fund reserves to address the current issues in the market. was now the first exchange to publish its Merkle tree proof of reserves.

Solana: Crash coming?

Solana (SOL) is also suffering from the recent FTX crisis: SOL has lost 51% of its value since the beginning of the week. It could be that the bottom falls even further.

The Solana stock lock period will end within 24 hours – around 18 million SOL tokens will then be released. Investors are likely to exit their positions and trigger a “second wave sell-off”.

“There is no gain for us”: CZ ​​on the FTX takeover

According to Binance Boss CZ, this is not a very pleasant situation for the crypto community and therefore a “no win” for Binance either.

He writes:

“Don’t think of it as a win for us. The user’s confidence is badly shaken. Regulators will further scrutinize exchanges. Licenses will be harder to come by around the world.”

Crypto Crash: Stablecoins also affected

The turmoil in the market also pushed stablecoins below $1. Tether (USDT), USD Coin (USDC), Dai (DAI) and Binance USD (BUSD) fell to around $0.998.

Even if the drop so far doesn’t seem like a Luna-like spiral, it does show that the mood is fearful.

FTX founder Sam Bankman-Fried’s venture capital firm, Alameda Research, had its share of the FTX bear market. As of November 9, Alameda’s official website is no longer accessible, as is the FTX Ventures website.

Trading platform Dash 2 Trade: Undoubtedly pre-sale at FTX play

Meanwhile, the FTX drama is not affecting the pre-sale of the trading platform Dash 2 Trade. The project has been able to raise almost 6 million dollars in capital from interested investors so far, so it is moving quickly towards the completion of phase 3 pre-sale. Currently 1 token costs 0.0513 dollars, with the start of phase 4 the price rises to 0.0533 dollars. Apparently, many investors are banking on Dash 2 Trade’s promise of convenient real-time trading with attractive features like chain analysis and trading signals.

Buy Dash 2 Trade in presale now

Text credit: Cryptoslate

Updated November 10, 2022

Buy Dash 2 Trade cheap in presale now!

  • Dash 2 Trade offers cutting-edge crypto analysis tools and many features
  • Currently, D2T tokens can be purchased in advance at a discounted price
  • The value of the new cryptocurrency Dash 2 Trade could soon explode

Buy IMPT now in the Presale!

  • The sustainable IMPT token is still in pre-sale.
  • Buy IMPT and support the transformation to a greener crypto future.
  • green cryptocurrency with huge potential.

Buy Tamadoge now at the OKX crypto exchange

  • The launch of Tamadoge at OKX on 09/27/22 was a huge success.
  • You can still invest early in the best new signal 2022
  • Play2Earn is a favorite crypto with a meme base cult factor

Crypto Launchpad: The Best Telegram Group!

  • Neutral market analysts
  • Daily summary: winners/losers of the last 24 hours
  • All because of the current NFT hype

Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.

Solana : Bientôt concurrent crédible d’Apple et Samsung ?

Solana: A credible competitor soon to Apple and Samsung?

JP Morgan prévoit un effondrement du Bitcoin à 13 000 dollars

JP Morgan is predicting Bitcoin to crash to $13,000