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Bitcoin News Alerts | Daily BTC News

1098: BREAKING: Binance To ‘Fully Aquire’ FTX After Withdrawals Stop As Bitcoin Hits 2-Week Lows!!

Bitcoin News Alerts | Daily BTC News

Bitcoin News Alerts

Investing, Education, News, Business, Tech News

3.6626 Ratings

🗓️ 8 November 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

Bitcoin (BTC) and crypto markets fell heavily into Nov. 8 as contagion from the FTX debacle spilled over. FTX appears to have stopped processing withdrawals, on-chain data show and as a result Binance is to now fully acquire FTX, as per CZ, the Binance CEO and SBF recently announced on Crypto twitter.  "This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX and help cover the liquidity crunch. We will be conducting a full DD in the coming days." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Bitcoin is hitting or just hit a two-week low and not to mention Sam Bankman-Fried is selling FTX to

0:07.3

Binance to fully acquire it.

0:09.7

That's right.

0:10.6

As their bank run drain their Bitcoin reserves, this was breaking news.

0:14.3

FTX halted all withdrawals officially this morning, according to on-chain data.

0:18.8

Then SBF came out and made an official statement

0:21.4

along with CZ, the Binance CEO, quoting him here. This afternoon, FTX asked for our help.

0:26.9

There is a significant liquidity crunch to protect users. We signed a non-binding, LOI,

0:31.9

intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting

0:36.6

a full D&D. In the coming days,

0:38.8

I'll be breaking down this full saga for you. Also, as Will and Clemente points out,

0:43.1

Bitcoin long-term hoddlers are unfazed as their aggregated hodlings continue to push to

0:47.7

new all-time highs. They now hold over 72% of the total Bitcoin supply. Now for a fun fact,

1:13.7

12 years ago, today, the total value of the entire Bitcoin in all of existence was only $1 million. Let that sink in. We've gone a long way to say the least. Also in today's show, Ethereum Shanghai Upgrade, EIP 3651, to cut the gas fees for key network participants. Also in today's show,

1:19.4

investors are increasingly confident in Ripple's victory over the SEC. According to coin shares,

1:23.9

I'll be breaking down the latest developments in this case. Also in today's show, crypto will eventually enjoy mass adoption according to the MasterCard CEO.

1:28.3

What does this look like?

1:29.4

We'll be discussing it.

1:30.5

Also in today's show, U.S. announces a historic $3.36 billion of crypto seizure as Silk Road

1:37.9

Bitcoin thief pleads guilty.

1:40.0

That's right.

1:40.6

The man who stole over 50,000 BTCs from the Silk Road marketplace has officially pleaded guilty.

...

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