ALSO: Dogecoin hits a two-month low, dropping about 10% this week |
What happened today in crypto markets By Helene Braun, CoinDesk Markets Reporter Was this newsletter forwarded to you? Sign up here. |
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Happy Friday. Here's what moved in crypto markets today: |
- The SEC has taken custody of FTX deposits in the Bahamas.
- Top assets in the crypto market were little changed on Friday.
- Bitcoin was recently trading at $16,577 while ether changed hands at $1,198.
- Doge dropped to a two-month low.
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Bitcoin: $16,577 +0.2%
Ethereum: $1,198 −0.1%
CoinDesk Market Index: 814 +0.3%
S&P 500 daily close: 3,839.50 −0.3%
Gold: $1,831 +0.6%
Treasury Yield 10 Years: 3.88% +0.0 |
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The Securities Commission of the Bahamas has taken custody of FTX deposits valued at more than $3.5 billion as of Nov. 12, according to a media release published late Thursday by the SCB. |
(Fernando Jorge/Unsplash) |
- Shortly after FTX filed for bankruptcy, about $372 million worth of tokens were stolen from the exchange by an unknown actor thought to be an external hacker.
- Given media reports of a cyberattack on FTX, and possible looting of FTX-controlled wallets by former employees, the Commission said in its statement it "determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of [FTX] to the prejudice of its customers and creditors."
- Assets will be held until the Bahamas Supreme Court directs the Commission to deliver them to the customers and creditors who own them, the statement says.
- The Commission said that FTX founders Sam Bankman-Fried and Gary Wang no longer had access to the $3.5 billion in tokens that were transferred.
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- Doge (DOGE): The meme coin fell to its lowest level since Oct. 26, as it lost about 3.4% on Friday, falling to $0.07. It was the fourth straight week of losses for DOGE.
- Bitcoin (BTC): The largest cryptocurrency by market value dropped 0.6% on Friday, ending the week about 1.8% lower, at $16,534. Equities markets fell again on the last trading day of the year as traders digested its worst losses since 2008. The tech-heavy Nasdaq Composite ended the day 0.7% lower, while the S&P 500 and Dow Jones Industrial Average (DJIA) fell about 0.6%.
- Ether (ETH): Similar to BTC, the second-largest cryptocurrency by market capitalization was little changed on Friday, trading about 0.3% higher over the past 24 hours at $1,195.
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Market Analysis: The Year in Review |
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CoinDesk Managing Editor of Technology Christie Harkin and CoinDesk Deputy Managing Editor Tracy Wang join "All About Bitcoin" to discuss the most significant crypto stories from 2022, with a focus on the FTX implosion and Bitcoin's key milestones. |
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. |
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