#Crypto alt binance news march 019 upgrade

2 that found Alameda Research, Bankman-Fried’s crypto trading company, held an outsized amount of FTT on its balance sheet.īinance’s sell-off announcement of FTT jettisoned the price of the token and caused industry jitters. Zhao’s announcement followed reporting from CoinDesk on Nov. The debacle began after Binance CEO Changpeng Zhao announced that his exchange would sell its holdings of the FTT token, the native currency of FTX. November: ‘White knight’ FTX falls from grace, sends shockwaves across industryįTX and its 30-year-old founder Sam Bankman-Fried went from industry leaders to bankruptcy in a matter of days. October was the “ biggest month in the biggest year ever” for crypto hackers, with over US$718 million stolen from decentralized finance sites across 11 different hacks, according to Chainalysis, a U.S.-based blockchain analysis company.ĭecentralized finance (DeFi) was a hot target for hackers, accounting for almost 99% of the total losses from exploits from July to September, according to a report by Singapore-based security services platform Immunefi. October: A bountiful month for crypto hackers

#Crypto alt binance news march 019 upgrade

The upgrade went through its final stage in mid-September, making the network 99.99% more energy efficient by transitioning from the proof-of-work consensus mechanism to proof-of-stake. September: Ethereum’s MergeĪmid all the doom and gloom, the crypto industry had a bright spot in September with an update – The Merge – to the second largest cryptocurrency blockchain Ethereum. NFT marketplace OpenSea laid off about 20% of its staff, and crypto exchange lost a quarter of its workforce.Ĭ announced that it let go of 260 employees in June, but that number reportedly grew in the following months. Over the summer, Coinbase announced a cut of about 1,100 employees, about 18% of its workforce. As of the time of publication, at least 2,400 cryptocurrency projects with their own tokens have failed, according to Coinopsy that tracks dead coins and digital assets.Ĭrypto companies began to hunker down for the crypto winter and started to lay off staff. Many so-called alt-coins declined more sharply than Bitcoin or went bust. In October, that figure dropped below half a million.īut as interest in new NFT collections waned, major brands such as Bored Ape Yacht Club, CryptoPunks and Axie Infinity solidified themselves as industry leaders, with each one surpassing US$2 billion in all-time sales volume this year.īy mid-summer, a “crypto winter” had set in, with prices of crypto assets extending declines.īitcoin dropped around 70% from its all-time high in November 2021 by July. Monthly NFT trading volumes fell from over US$4.9 billion in January to under US$1 billion in June, per NFT data aggregator CryptoSlam.

The non-fungible tokens (NFT) market also declined in tandem with crypto. 28 but in a court filing, Voyager called FTX’s proposal a “low-ball bid dressed up as a white knight rescue.” 13.įTX proposed acquiring the bankrupt Voyager on Jul. Celsius filed for bankruptcy under Chapter 11 on Jul. 5, Voyager and its affiliates filed for bankruptcy under Chapter 11. July: More fallout from Terra-LUNA, NFTs begin to waver, ‘crypto winter’ sets in Two days later, 3AC filed for bankruptcy under Chapter 15. 29, the firm was ordered liquidated by a British Virgin Islands court. 27, another crypto lender U.S.-based Voyager issued a notice of default to hedge fund Three Arrows Capital (3AC) for failing to service a loan worth about US$665 million. cryptocurrency lender Celsius froze withdrawals, swaps, and transfers in response to “extreme market conditions” and later laid off 150 employees and attempted to restructure. The price rebounded a day later before it plunged below US$0.10 on May 19.

dollar peg began to waver on May 9 and slid to US$0.479 on May 11. That all fell apart within a few days in May. Terra’s algorithmic stablecoin TerraUSD (UST) had a market cap as high as almost US$18.7 billion in April. The Terra network and its founder Do Kwon began the year on a high note. This was one of the first of several hacks in 2022. authorities and crypto security firms, over US$30 million of funds have been recovered. officials said that a North Korean state-backed hacking collective, Lazarus Group, was involved in the theft.