Crypto Market Overview November 8th | Dex-Trade
Billy Markus and Charles Hoskinson Buried the Hatchet and Parted Ways Peacefully
Just yesterday, we wrote about the spat between Dogecoin co-founder Billy Marcus and Cardano founder Charles Hoskinson on Twitter over Hoskinson's proposal to make DOGE an ADA sidechain, to which Markus responded that "Doge isn’t going to use Cardano for anything." The opponents seemed to come to their senses quickly, with Markus even apologizing to the Cardano CEO by tweeting him that he respects Hoskinson's work and was apparently "overly hostile" in his response to his proposal. It is noteworthy that in conclusion, the co-founder of Dogecoin wished good luck to the creator of Cardano and the ADA project. At the same time, Hoskinson thanked Markus for the noble gesture and apologized for his harsh remarks in his direction: "Thanks man. I appreciate it. I'm sorry that I said things that were also a bit hostile." Last year, Hoskinson called Dogecoin "a mockery of his life's work," which became a bone of contention between crypto engineers. During Sunday's spat, the Cardano founder also wrote that DOGE is "stereotypes crypto," which increases the number of fiscal factors for the industry in principle. While we have witnessed the hatchet being buried, many analysts believe that this dispute may be rekindled over time as competition in the useful crypto environment skyrockets in parallel with market crises worsening. Let's hope that it will do without a massacre.
CZ Is on the Side of the "Free Market" and Does Not Intend to Buy FTX Binance
On November 7, Alameda Research CEO, Caroline Ellison, tweeted an offer to buy all Binance FTT assets at a price of $22 per Binance FTX token, addressed to Binance CEO Changpeng Zhao (CZ). However, CZ himself hinted today that he is not interested in such an offer, as he tweeted back stating, "I think we will stay in the free market." Allison's proposal appears to have been inspired by the news that Binance intends to liquidate its FTT position due to the growing risks associated with it. Market experts believe that the main reasons for such a gesture are the growing bear market and the experience of the infamous LUNA, which, six months after the crash, has already become something of a reference book of inefficient decisions. At the same time, CZ said that it intends to sell assets in such a way as to "minimize the market impact." In addition, the head of Binance said that the token sale will take at least a few months, as exchange wallets currently hold millions of FTTs, totaling about $2.1 billion in Binance USD (BUSD) equivalent. Notably, other Binance officials declined to comment on the matter. But this is quite natural, since any major move by sellers can lead to a market collapse.
George Soros “Flirts” with Crypto Using Uala
Argentina-based neobank Uala, which is backed by investment magnate George Soros, has launched a cryptocurrency trading service for its users in Argentina. Clients of the company with the highest level of loyalty can now trade, buy and sell BTC and ETH through the Uala platform. The service is expected to be expanded to all customers in the coming weeks. According to the press release, the trading option will be available through the online banking app on any user device. Pierpaolo Barbieri, CEO of Uala, which became a unicorn thanks to the investments of George Soros and Steve Cohen, said that Argentina is the best market for investments of this kind, since it is here that the adoption of cryptocurrencies is happening at the fastest pace. In particular, all 4.5 million neobank customers should soon get access to the new crypto trading function. After that, the bank intends to add different digital coins to the platform as demand from users grows. However, according to Barbieri, they will not include stablecoins, since there are still no clear rules for their legal regulation in the international financial field.