Gravity of ‘not your keys, not your coins’ hits home as Trust Wallet spikes 113% to new ATH
Trust Wallet Token bucked the trend and grew 58% in the last 24 hours as most cryptocurrencies suffered heavy losses following the FTX collapse last week.
Since November 7th, Trust Wallet tokens have increased in value by 113%, leading the top 100 tokens. This streak of form saw him hit a new all-time high of $2.48 on November 14th.
Markets continue to rock from FTX scandal
Following last week’s run on FTX, the infamous crypto exchange filed for Chapter 11 bankruptcy on Nov. 11.
Multiple allegations of irresponsible investment practices, or worse, were discovered by internet detectives during this period. $650 million November 12th Hack, side jobdealt a further blow to users of the platform.
While the exact size of the FTX black hole is unknown at this time, many believe the scandal to be the biggest in cryptocurrency history due to its apparent façade of legitimacy.
Speculation about company’s financial shortfall, CNBC anchor Brian Sullivan The group’s total debt could reach $50 billion, he said, and if so, it would more than double Enron’s debt.
FTX’s bankruptcy shows that the company has 134 affiliates around the world and could be saddled with up to $50 billion in debt.
Enron had $23 billion in debt.
FTX may be worse than Enron.
— Brian Sullivan (@SullyCNBC) November 11, 2022
Enron It declared bankruptcy in December 2001. Along with Lehman Brothers, Enron is considered one of the most significant corporate frauds to shake the world.
Binance Approved Trust Wallet
Binance CEO commenting on the situation Zhao Changpeng He tweeted about the importance of self-control in cryptocurrencies, calling it a “fundamental human right.”he later approved trust wallet.
Self-control is a basic human right.
Feel free to come anytime.
Please do it right.
We recommend starting with a small amount to learn the techniques/tools first.
Mistakes here can be very expensive.
stop #SAFU— CZ🔶 Binance (@cz_binance) November 13, 2022
binance got In July 2018, Trust Wallet entered a tender to expand on-chain mobile wallet functionality to its list of services.
“Binance’s acquisition of Trust Wallet demonstrates the importance of secure wallet technology to the future development of cryptocurrencies as a whole.”
Trust Wallet Token (TWT) is the wallet’s native BEP-20 utility token. This allows token holders to participate in governance procedures regarding app functionality, updates, and discounts for in-app purchases.
