CryptoSlate Wrapped Daily: CZ, SBF trade jabs in Twitter feud; Bitcoin firmly in capitulation phase

1 year ago

The biggest quality successful the cryptoverse for Dec. 9 includes a Twitter sparring between Binance CEO Changpeng Zhao and erstwhile FTX CEO Sam Bankman-Fried, and Hut8, Riot, and Marathon are emerging arsenic the lone nationalist miners that accrued their BTC holdings successful November.

CryptoSlate Top Stories

AI cryptocurrencies station beardown show suggesting burgeoning interest

The Artificial Intelligence (AI) cryptocurrency sector grew 12.3% implicit the past 24 hours, making it the 2nd biggest gaining assemblage aft cannabis.

Notable apical 10 AI cryptocurrency performers were Cortex, which develops instrumentality learning models connected blockchain, up 93.7%, and Fetch, which leverages AI and automation for dApp and peer-to-peer applications, gaining 33.7%.

CZ accused SBF of trying to depeg USDT done Alameda

The play surrounding FTX and Binance continues to unfold arsenic caller substance messages look that amusement what went connected down the scenes arsenic the speech crumbled.

The New York Times obtained text messages from a radical chat with Sam Bankman-Fried, Changpeng Zhao, and assorted different cryptocurrency executives that were exchanged connected Nov. 10 — the time earlier FTX filed for bankruptcy.

The bid of astir a twelve texts showed that each crypto executives feared the concern could worsen. Moreover, the disquieted exchanges reportedly became progressively tense arsenic CZ accused SBF of trying to manipulate the terms of Tether (USDT).

In the texts, CZ said that SBF utilized Alameda Research to depeg the stablecoin. Binance’s CEO pointed retired a $250,000 trade and said Alameda specifically placed it to destabilize USDT.

SBF claims ‘You won’ arsenic helium hits backmost astatine CZ’s defamatory Twitter thread

Sam Bankman-Fried (SBF) has spoken retired pursuing Binance laminitis Changpeng Zhao’s (CZ) nationalist thread referring to Kevin O’Leary’s defence of FTX and referring to SBF arsenic “a fraudster.”

The feud continued pursuing CZ’s caller allegations that CZ accused SBF of trying to depeg USDT done Alameda.

CZ alleged that SBF “launched a bid of violative tirades astatine aggregate Binance squad members” successful his Twitter thread.

In rebuttal, SBF announced that CZ had “won” and alleged that CZ had lied regarding the details surrounding Binance’s buyout of FTX.

SBF pushes FTX restart thought by issuing FTT tokens to creditors

FTX erstwhile CEO Sam Bankman-Fried supports restarting the bankrupt speech by issuing new FTT tokens to creditors and giving 100% profits to token holders.

Crypto Trader big Ran Neuner archetypal projected the thought connected Dec. 9, adding that it would marque the caller speech the “biggest speech successful the world.”

In response, SBF tweeted that helium thinks “that this would beryllium a productive way for parties to explore.”

Research Highlight

Research: Analysis of on-chain metrics suggests Bitcoin is firmly successful the capitulation phase

Since June, Bitcoin (BTC) – and the wide marketplace subsequently – has been successful capitulation, different than a fistful of rallies seen successful the summertime of this ongoing carnivore market, according to on-chain information provided by Glassnode and analyzed by CryptoSlate.

Both bull and carnivore markets uncover on-chain sentiment data, ranging from ‘Capitulation’ to ‘Euphoria – Greed. In the tallness of a bull market, the apical is historically indicated erstwhile Euphoria grips tightly. On the different hand, capitulation usually signals the bottom.

The illustration beneath shows that BTC has firmly sunk into the Capitulation sentiment arsenic the Net Unrealized Profit/Loss (NUPL) on-chain information displays a descent into reddish territory seen antecedently lone successful 2012, 2015, and 2019.

Hut8, Riot, and Marathon accrued BTC holdings successful November aft important declines

Mining companies person been releasing their November accumulation rates passim the week. CryptoSlate analysts brought the numbers unneurotic and revealed that Hut8, Riot, and Marathon are the lone ones who accrued their BTC holdings successful November.

The illustration supra includes the apical 9 BTC miners’ monthly reserves starting from January 2022. The numbers amusement that Hut 8, Riot, and Marathon added 238, 472, and 72 BTC to their reserves successful November, respectively.

On the different hand, Argo, Bit Digital, Bitfarms, and Cleanspark shrank by losing 12, 30, 400, and 9 BTC successful the aforesaid month.

Crypto Market

In the past 24 hours, Bitcoin (BTC) accrued by 0.75% to commercialized astatine $17,147.91, portion Ethereum (ETH) accrued by 1.16% to commercialized astatine $1,270.72.