Tag: FTX.US

U.S. FDIC Ordered FTX To Stop Misleading Consumers About Deposit Protection!

Compliance Ben - August 20, 2022

The crypto exchange FTX, controlled by Sam Bankman-Fried, received a cease-and-desist warning on Friday from the Federal Deposit Insurance Corporation (FDIC), telling the company to stop “misleading” consumers about the insurance status of their funds. The FDIC issued letters to FTX.US, Cryptonews.com, Cryptosec.info, SmartAsset.com, and FDICCrypto.com. Unlike deposits held at U.S. banks, cryptocurrencies stored with brokerages are not protected by the government.

The Crypto Exchanges Performance In June 2022

Crypto Ben - July 31, 2022

In June 2022, spot trading volumes across all centralized crypto exchanges fell 27.5% to $1.41tn, the lowest figure recorded since December 2020. Binance’s market share rose to 49.7% in June from 45% in January, according to CryptoCompare. FTX boosted its market share to 8.95% in June from 6% in January, making it the second-largest spot market. Coinbase has seen its share of the spot-trading market fall to 7.39% in June from 10.8% in January. OKX, BeQuant, and Gemini also saw their market share slip.

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