Cryptocurrency roundup for November 11: SEC launches probe against FTX chief Sam Bankman-Fried, Crypto Lender BlockFi halts withdrawals, Binance reveals proof of reserves and more
[content][quote]Big Story[/quote][title]SEC probing if Sam Bankman-Fried violated securities laws[/title][circularimage]
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At least nine cryptocurrency exchanges have come forward to provide proof of fund reserves as the market remains rattled amid insolvency fears after the collapse of FTT, the native token of FTX. Nine exchanges, including Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit, and Bybit — have independently announced that they will publish their Merkle tree reserve certificates in order to promote transparency over the previous 24 hours. Binance CEO Changpeng Zhao on Tuesday urged exchanges to “do Merkle-tree proof-of-reserves,” as he announced that his crypto exchange will start the process soon to ensure transparency among investors. More here.[/body][/content]
[content][quote]Fallout[/quote][title]Crypto Lender BlockFi Halts Withdrawals In A Fallout Of FTX Crisis[/title][body]Crypto lender BlockFi has halted client withdrawals on its platform as part of a broader limit to activity in the wake of FTX’s collapse. The company said in the Nov. 11 tweet that a “lack of clarity on the status of FTX.com, FTX US and Alameda” has prevented it from being able to operate as normal. As a result, it has limited platform activity until there is further clarity on the developing situation, it said. Full story here.[/body][/content]
[content][quote]Buy Bitcoin[/quote][title]Amid crypto rout, 95% Coinbase users flock to buy Bitcoin[/title][body]Amid the chaos which wiped out over $100 billion dollars overnight from the cryptocurrency market, led by an epic fall in the price of Bitcoin which made a low of
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