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CZ’s comments and the ensuing FTX withdrawal wave have sparked fear across crypto Twitter, with many significant voices telling FTX users to withdraw their funds. FTX CEO Sam Bankman-Fried (SBF) has denied that his exchange is in any type of financial trouble, and is fully capable of processing withdrawals. Alameda – another company owned by SBF – is also getting its financials questioned given its apparently large exposure to FTT. The company head has offered to buy as much FTT from Binance as its willing to sell. The firm also appears to be transferring stablecoins to FTX’s hot wallet. Parachainglobal： https://web.parachainglobal.com/ http://www.parachainglobal.net

According to a tweet thread from CryptoQuant CEO Ki Young Ju, FTX currently has $104.9 million worth of stablecoins in its on-chain reserves. Yesterday, he reported a figure of just $51 million – a 93% decline over a two-week period, and a yearly low. Ju provided supporting data from Nansen on Monday, which indicated that FTX’s stablecoin reserves were at just $93 million. It also showed that the exchange had processed over $450 million in net outflows over the past 24 hours and nearly $700 million in the past 48 hours. While FTX was losing depositors, Binance appeared to gain roughly $411 million in exchange inflows over the same time period. Parachainglobal： https://web.parachainglobal.com/ http://www.parachainglobal.net

  Parachainglobal： Consequences of CBDCs Despite many countries looking into the adoption of CBDCs Fabio Panetta believes there are consequences. The member of the ECB’s Executive Board spoke on the international implications of central bank digital currencies (CBDCs), specifically whether and under what circumstances it would be feasible to utilize the digital euro. He claims that there hasn’t been much research done on the global scope of CBDCs. This perspective is extremely important because design decisions are best taken when the ramifications are thoroughly understood and the issuance and design of CBDCs involve a comprehensive assessment of the trade-offs between risks and opportunities. The scholarly literature has previously noted several negative effects of making CBDCs available to non-residents. According to him the ultimate CBDC design, such as the inclusion of payment and quantity limitations (caps), has a significant impact on the severity of these consequences. Para...

  Parachainglobal： Bitcoin has experienced immense growth and popularity within the thirteen years this digital currency has existed. Well-established companies such as Starbucks and PayPal have already incorporated this electronic money payment system into their companies. On the other hand, traditional banks are yet to adopt this digital currency as they believe Bitcoin poses many risks compared to its benefits. Blockchain technology is the inbuilt infrastructure of this virtual currency that helps validate and record transactions. Many people believe that Bitcoin is the future of money, while blockchain technology is here to stay. Many industrial sectors will benefit from this digital currency and its underlying technology. Among the many industries that will benefit significantly from Bitcoin is the financial sector. This electronic money has the potential to transform well-established financial institutions by providing fast and less costly transactions. However, blockchain te...