Trading


Markets

Crypto Firm Orthogonal, Victim of FTX Contagion, Now Faces Internal Dissent

Shortly after Orthogonal got served with default notices on $36 million of crypto loans from Maple Finance, the firm’s credit team published a statement saying it was “speechless” and unaware of the extent of the trading team’s exposures.

Rancor and dissent have broken out between units of Orthogonal Trading after $36 million of loan defaults on the crypto lending platform Maple Finance. (Charles Altamont Doyle/Creative Commons, modified by CoinDesk)

Markets

Ether Turns Inflationary as Network Usage Slows

The current positive inflation rate indicates the volume of ether being minted now outpaces the amount being burned.

Ether’s annualized inflation rate returned to a positive value after making a “V-shape” from November's market volatility triggered by FTX. (ultrasound.money)

Markets

FTX Contagion Spreads as Orthogonal Trading Gets Default Notice for $36M Debt on Maple Finance

Creditor M11 Credit issued a default notice to Orthogonal Trading for $36 million of loans, while Maple Finance severed all ties with Orthogonal for misrepresenting its financial position.

Crypto hedge fund Orthogonal Trading appears to be the next firm becoming insolvent after crypto exchange FTX's implosion. (Tom Wilson/Unsplash)

Markets

Minting of Reddit Avatar Tokens Climbed to Record High Over Weekend

The Polygon blockchain-based collection has 3.4 million holders, all of them Reddit users.

Reddit collectible avatars (Reddit)

Markets

Bitcoin's Price Action Is Encouraging, But It May Not Signal Bottom: Traders

The cryptocurrency's price needs to trade above its 21-week moving average to confirm a bottom, one trader said.

Investors bottom fishing  (Robson Hatsukami Morgan, Unsplash)

Markets

MakerDAO Community Rejects CoinShares Proposal to Invest Up to $500M in Bonds

The largest decentralized lending protocol MakerDAO previously approved a plan to invest $1.6 billion with Coinbase Prime for an annual yield of 1.5%, but this latest plan didn't fly.

(Unsplash)

Markets

First Mover Americas: Binance Increases Recovery Fund, wBTC Loses Its Peg

The latest price moves in crypto markets in context for Nov. 25, 2022.

Binance CEO Changpeng "CZ " Zhao (Binance)

Markets

First Mover Americas: Binance.US to Bid for Voyager

The latest price moves in crypto markets in context for Nov. 24, 2022.

Binance CEO Changpeng Zhao (Wikimedia)

Markets

FTX Contagion Revives Dreaded 2022 Crypto Knell – the ‘Withdrawal Halt’

The downfall of the FTX exchange has caused a domino effect: a growing list of crypto firms, such as BlockFi and Genesis, halting withdrawals. CoinDesk counted 16 of these announcements just this year.

(Nadine Shaabana/Unsplash)