On Friday, October 10, the crypto market had its largest single-day liquidation event ever, bigger than FTX, COVID, or Luna. Almost $20 billion was wiped out, and 1.6 million traders got liquidated. Over 1,000 traders lost over $100,000, 200 lost more than $1 million, and 358 lost everything.
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On November 3rd, the extremely publicized trial of Former FTX CEO Sam Bankman-Fried came to an end, as the former Crypto King was found guilty of all seven charges that were brought against him. These charges included two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of money laundering conspiracy, and one count of commodities fraud.
Read MoreSince November 2022, Sam Bankman-Fried’s fall from grace has been nothing short of spectacular. When Binance, a rival crypto exchange shockingly announced their liquidity crisis, Bankman-Fried and FTX immediately felt the shockwaves. Only a few days later, FTX filed for Chapter 11 bankruptcy and Bankman-Fried stepped down from his role as CEO.
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We are in a booming age of technology. Five billion people currently use the internet creating about 400 exabytes of data and, by 2030, it is projected that there will be about 500 billion individual devices connected to the internet. Needless to say, there are lots of new technologies on the horizon.
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September 15th, Ethereum Network completed the long-awaited merge. So what does this actually mean for the cryptocurrency?
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If someone were to buy an Hermès Birkin bag, their total at the register would cost them around $10,000 U.S.D. However, whoever purchased a “Meta Birkin” non-fungible token or NFT, by Mason Rothschild bought them for $47,000 U.S.D. or 10 Ethereum.
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FTX and Crypto.com at the Super Bowl fifty-four.
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