Quick weekly news:
- 3Commas issues security alert as FTX deletes API keys following hack: Read more here
- Will the ETH price crash to $750? Ethereum daily active addresses plunge to 4-month lows: Read more here
- Institutions ‘moving very, very fast’ into Crypto — Coinbase exec: Read more here
Other notable events include:
- Tesla held onto all of its last $218 million in Bitcoin in Q3
- Under the FTX arrangement, Voyager consumers might get back 72% of their frozen cryptocurrency
Tesla held onto all of its last $218 million in Bitcoin in Q3
The company's Q3 report issued on October 19, reveals that $218 million in "digital assets" still appear on its balance sheet and that there have been no reductions in their value. Furthermore, Tesla is said to still possess 9,720 BTC at the current pricing.
Tesla stated in its Q2 financial report that it sold 75% of its Bitcoin during the quarter, bringing in $936 million in cash and making a $64 million profit. Elon Musk, the CEO of Tesla, claimed at the time that the COVID-19 lockdowns in China had caused liquidity worries, which were the cause of the sell-off.
Does Musk know something, so should we hold our Bitcoins as well?
Under the FTX arrangement, Voyager consumers might get back 72% of their frozen cryptocurrency
According to court filings, customers of the insolvent cryptocurrency lender Voyager Digital may be eligible to receive 72% of the value of their accounts as part of a tentative agreement with FTX US.
The prior sale won't be complete, though, until Voyager's creditors have approved it and the bankruptcy payout plan has been approved by the US bankruptcy judge, according to what he stated during the court hearing:
“If the plan falls apart, there’s no part of this agreement that survives.”
Additionally, a provision known as a "fiduciary out" enables Voyager to terminate the agreement with FTX should any proposals be made that result in a better outcome for creditors.
Also, make sure to check out the top altcoin gainers and losers of the week ⬇️
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