Coin Gabbar Token

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, is opposed to any disruption during the release of the August CPI statistics.However, a lot of traders who were having trouble placing their deals said that the<a href="https://www.coingabbar.com/en/crypto-currency/ftx-token-ftt-prices-usd" rel="noopener noreferrer nofollow"> FTX</a> service was down.FTX Didn’t Actually Go DownThe total market capitalization of cryptocurrencies fell by more than 5% following the release of the August CPI data. As the CPI came in at 8.3% vs. the projected 8.1%, the values of<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow"> Bitcoin (BTC)</a> and Ethereum (ETH) fell by almost 5% and 8%, respectively. However, compared to 8.5% in July and 9.1% in June, U.S. inflation has decreased to 8.3%.Many traders stated that the<a href="https://www.coingabbar.com/en/crypto-research-papers/ftx-token" rel="noopener noreferrer nofollow"> FTX cryptocurrency</a> exchange is down as they experience difficulties placing their orders as a result of the volatility in the crypto values following the CPI announcement. Because of the outage, traders were unable to modify their trades, which frustrated them. Over $150 million in positions were liquidated in an hour, according to Coinglass.SBF, the CEO of FTX, noted in a tweet that although there was no exchange downtime, several traders experienced a continuous auto-refresh of the website. FTX didn’t truly go down, but a lot of people experienced the website’s odd auto-refreshing, which was fairly unpleasant. The team is working to fix the issue; a remedy will be implemented shortly.In the meantime, FatMan from the Terra research forum criticised SBF for misrepresenting the situation. He thinks the actual server wasn’t taking orders, not a website or front-end fault. FatMan revealed the “ExchangeNotAvailable” issue. The problem might have been brought on by the 12k deals that FTX recorded in a minute. It’s interesting that there have been more deals in the last four months than ever in 5 minutes.The CPI Release Causes the Crypto Market to DeclineAfter the August CPI announcement, the cryptocurrency market experienced a significant correction. The cost of one bitcoin has decreased from $22,673 to $20,600. In addition, the price of<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow"> Ethereum</a> drops to its psychological threshold of $1600.Wall Street behemoth Goldman Sachs anticipates rate increases of 75 basis points in September and 50 basis points in November and December.

Server Downtime During the August CPI Release: FTX CEO Disagrees

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