COIN360 6 minutes reading from Bitcoin

Crypto News Digest: Price Dips Below $10,000, BTC Price Holds at $9,300

The lower-than-expected CPI data brought relief to the crypto market with BTC and other altcoins surging quickly despite the bearish sentiment caused by the @FTX_Official saga.

CryptoNews in @COIN360com Daily Digest:

2/ Investors got some time to breathe as the CPI data at 7.7% YoY, its 9-month low, raising hope for a more dovish Fed & the end of the post-pandemic price surge.

BTC added 1,000 to its value within 30 minutes after the news, sending the coin to over 17,600 (+3.37% in 24h).

3/ Major altcoins are enjoying the rally. ETH surpassed 1,300 with a ~12% spike.

MATIC is now in the top 10 with the recent rally sending its price to 1.1.

Top gainers: MATIC MKR APT Top losers: FTT XDC USDN

Details in our heatmap:

Cryptocurrency Prices Heatmap, Market Cap, Charts & Widget – COIN360

4/ Nearly half of the top NFT collections recorded a slump in their volume today.

AsyncBlueprints (+11,054%), merge. (+3,008%), and @SteadyStackNFT (+3,370%) topped the list of best performers by volume.

NFT Heatmap – Coin360

5/ @FTX_Official finally reopened withdrawals, as per analysts who checked on-chain data.

The CEX was reported to conduct a fundraise next week:

Right before it allegedly used customers' funds to save Alameda from a crash:

FTX to Conduct Fundraise Next Week: Reuters
Exclusive: Behind FTX's fall, battling billionaires and a failed bid to save crypto

6/ As per @WSJ the SEC has opened an inquiry into the FTX platform, in addition to looking into @binance & @coinbase

Binance published a new page to show on-chain activity for its hot and cold wallet addresses:

SEC Investigating Binance and Coinbase after FTX Implosion: WSJ
Binance shares wallet addresses and activity after proof-of-reserve pledge

7/ @Aptos_Network has entered into a partnership with @googlecloud in which the tech giant will validate nodes and participate on the Aptos mainnet.

The blockchain will also be indexed and made available on Google Cloud's BigQuery service.

Aptos and Google Cloud unveil partnership, plan for accelerator program

8/ @Tether_to was said to have frozen at least 46,360,701 USDT of FTX’s funds at "the request of law enforcement:"

This came after USDT regained its peg amid big market volatility, which saw @trondaoreserve purchase 1B worth of USDT to save the market.

Tether Freezes Over 46M of FTX's USDT

9/ @justinsuntron revealed that he had been working with FTX on the withdrawal function, where users who want to withdraw from FTX have to convert their assets to TRX:

But USDD lost its peg and isn't showing signs of a recovery:

Justin Sun-linked tokens resume trading on FTX at higher prices
Tron’s stablecoin USDD loses dollar peg on suspected selloff by Alameda Research

10/ @hodlnautdotcom emerged that it held 18M worth of crypto on @FTX_Official including BTC ETH & stablecoins.

Hodlnaut's managers reported that its employees withdrew a total of 550,000 between the beginning of July and when withdrawals were halted.

Troubled Crypto Lender Hodlnaut Had 18M on FTX Before Withdrawal Freeze

11/ @CelsiusNetwork is seeking to extend the Exclusivity Period in its case. If granted, the motion will permit more time to the fallen crypto lender to work on its restructuring plan.

Bankrupt Crypto Lender Celsius Seeks Extension for Restructuring

12/ @coinsharesco said it had about 30.3M (11% of its total net asset value) in cryptocurrencies and other assets stuck on FTX.

Apart from 25.9M in US dollars and USDC, the pending withdrawals also include 190 BTC & 1,000 ETH.

Europe's biggest digital asset investment firm reveals 30.3 million exposure to FTX, about 11% of total assets

13/ @galaxyhq has launched a bitcoin ETF in Brazil via a partnership with Latin America’s largest private asset manager @itau

Galaxy Brings Bitcoin ETF to Brazil With TradFi Giant

14/ @opensea announced that it will continue to enforce creator royalty fees going forward following significant pushback from the community.

OpenSea Pledges to Enforce NFT Royalties After Creator Backlash - Decrypt

15/ Other news:

El Salvador President @nayibbukele dismisses rumors country holds Bitcoin on FTX:

@Cryptocom commits to proof-of-reserves after halting certain deposits and withdrawals:

​​El Salvador President Bukele dismisses rumors country holds Bitcoin on FTX commits to proof-of-reserves after halting certain deposits and withdrawals

16/ @OKX @kucoincom say proof of reserves will be ready in a month:

@GSR_io will cover client losses from FTX collapse, will no longer trade on @HuobiGlobal

OKX, Kucoin say proof of reserves will be ready in a month
Crypto trading firm GSR will cover client losses from FTX collapse, will no longer trade on Huobi

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