FTX’s customer portal stopped shortly after going live!

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FTX’s customer portal stopped shortly after going live; Coinbase shares hit highest level since August 2022; Cboe agrees with Coinbase for spot Bitcoin ETF terms.

Failed cryptocurrency exchange FTX has launched a customer claims portal. However, the platform went offline shortly after.

Many social media users noted that FTX’s customer claims portal went live on July 11, offering customers with accounts on FTX, FTX US, Blockfolio, FTX EU, FTX Japan, and Liquid the opportunity to access account information and make requests. According to FTX’s Kroll page, users have until September 29 to submit their requests.

Before going offline, the portal said users will be able to access their account balances. Users still have the option to submit evidence via Kroll’s online customer form and mail. The portal has been offline for about 3-4 hours.

FTX creditors announced in June that the company plans to launch an online portal for customer claims.

Coinbase shares hit highest level since August 2022

Coinbase shares surged 9.7% on Tuesday to their highest level since last August.

According to Bloomberg’s report, the reason for the increase in the price of COIN was the emerging optimism about the approval of a potential spot Bitcoin ETF.

The shares of the largest cryptocurrency exchange in the USA managed to close the day with $ 89. Crypto-linked stocks have more than doubled over the year, despite the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase and other crypto companies.

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Cboe’s signing of an oversight sharing agreement with Coinbase was also one of the important reasons for the increase in the value of COIN.

Bloomberg Intelligence analyst Eric Balchunas said that the probability of a spot Bitcoin ETF being approved in the US is 50% to 50%.

Oppenheimer & Co analyst Owen Lau said of the stock’s rise:

“Potential success from Bitcoin ETF applications has been one of the key factors driving stocks since June”

Analysts are divided over the shares of Coinbase. While 11 analysts are positive about the stock sale, 13 analysts say they should hold the shares and 8 say they should be sold. According to data compiled by Bloomberg, the average price target on Wall Street is around $70. That stays below Monday’s closing price of $81.

Cboe agrees with Coinbase for spot Bitcoin ETF terms

Cboe has signed with Coinbase, the largest US cryptocurrency exchange, regarding spot Bitcoin ETFs.

Earlier filing revealed that the exchange was waiting to sign this deal, The Block reported.

The statement included the following:

“On June 21, 2023, the exchange reached an agreement on terms with Coinbase, a US-based spot trading platform operator that represents a significant portion of Bitcoin in US dollars. An oversight for Bitcoin trading and a spot Bitcoin SSA. “surveillance-sharing agreements have been reached”

The custody sharing agreement allows the exchange of information about the market’s trading activities, swap activities and the identity of customers, making the probability of market manipulation extremely low.

Changes have also been made to 19b-4 filings for the ARK 21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, and Wise Origin Bitcoin Trust.

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After asset management giant BlackRock filed a spot Bitcoin ETF application, many companies have filed similar applications.

BlackRock and Fidelity have chosen Coinbase as their surveillance sharing partner. The spot Bitcoin ETF race between companies is in full swing.

The US Securities and Exchange Commission (SEC) has yet to approve a spot Bitcoin ETF. The regulator continues to reject offers, citing fraud and manipulation concerns at every turn.

FTX's customer portal stopped shortly after going live; Coinbase shares hit highest level since August 2022; Cboe agrees with Coinbase for spot Bitcoin ETF terms.