Hello, ApolloXplorer!
Have you seen today’s key headlines yet?
<h2 id="header-0">#1. Tron-based tokens sell at 1200% premium</h2>
Tron-based tokens have surged as much as 1000% on FTX as users try to extract locked-up liquidity.
A November 10 deal was struck which allows holders of assets such as TRX, BTT, JST, and SUN to withdraw funds.
This has resulted in traders on FTX bidding up the price of Tron-related tokens to recoup their locked funds. However, the inflated prices will likely lead to significant realized losses if sold on other exchanges.
<a href="https://cointelegraph.com/news/tron-based-tokens-sell-at-1200-premium-as-ftx-users-scramble-to-withdraw" rel="noopener noreferrer nofollow">Source</a>
<h2 id="header-1">#2. FTX US warns users of trading halt</h2>
FTX US alerted users Thursday to a potential halt to trading functionality “in a few days.”
The firm alerted users, “Trading may be halted on FTX US in a few days. Please close down any positions you want to close down. Withdrawals are and will remain open.”
Although FTX US has been referred to as a separate company from the international FTX.com business, the companies are significantly intertwined.
<a href="https://decrypt.co/114136/ftx-us-warns-users-trading-halted" rel="noopener noreferrer nofollow">Source</a>
<h2 id="header-2">#3. Major stablecoins destabilized amid market volatility</h2>
Significant market volatility this week has impacted stablecoins with nearly all leading stablecoins de-pegging temporarily.
USDT temporarily declined to $0.97 on November 10 and USDC fell to $0.977 briefly. Tron’s algorithmic USDD stablecoin fell as low as $0.952 at peak volatility.
That said, most major stablecoins including USDC, BUSD, USDP, GUSD, and TUSD had returned to their dollar peg at time of writing.
<a href="https://cointelegraph.com/news/major-stablecoins-destabilized-as-market-volatility-and-redemptions-surge" rel="noopener noreferrer nofollow">Source</a>
<h2 id="header-3">#4. Tether freezes &gt;$46M of FTX's USDT</h2>
Blockchain transaction data provided by WhaleAlert showed that Tether appears to have frozen 46,360,701 USDT owned by FTX in its Tron blockchain wallet.
This comes a day after the U.S. SEC and the U.S. Justice Department began investigating FTX over its liquidity crisis.
A spokesperson from Tether stated that the firm only freezes privately held wallets when it receives a legitimate request from a verified law enforcement agent.
<a href="https://cointelegraph.com/news/report-tether-freezes-46m-of-ftx-s-usdt-on-tron-blockchain-setting-new-precedent" rel="noopener noreferrer nofollow">Source</a>
<h2 id="header-4">#5. Chainlink Labs offers Proof of Reserve service</h2>
Chainlink Labs has offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market.
Proof of Reserve is a technique that allows users to audit the reserves of crypto exchanges in real-time.
The product uses Chainlink nodes connected to the exchange’s API, its vault addresses, and a Proof of Reserve smart contract which can be queried by any other account on the network.
<a href="https://cointelegraph.com/news/chainlink-labs-offers-proof-of-reserve-service-for-embattled-exchanges" rel="noopener noreferrer nofollow">Source</a>
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Crypto News of the Day: FTX US warns users of trading halt, Tron-based tokens sell for high on FTX

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