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Top cryptocurrency news this week

With the recent announcement of a 50 basis point rate hike from the US Federal Reserve, the cryptocurrency market collapsed, eliminating all price gains before the announcement.

The Fed has stated that it is likely to raise interest rates again at the current rate.

After increasing interest rates by 75 basis points for several months due to inflation concerns, yesterday’s announcement slowed the pace of rate hikes.

Low Price of Bitcoin (BTC):

The cryptocurrency market collapsed as the stock market slumped, which also fell dramatically after the Fed’s announcement.

At the time of writing, the price of bitcoin and ethereum has fallen by more than 2.5% in the last few hours and major cryptocurrencies are currently trading at $17,700 and $1305 respectively.

In addition, bitcoin’s fear and covid index has fallen to “fear” levels and is expected to rise further to extreme fear in the coming days.

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US FTX reveals another $90 million missing!

As the bankruptcy and restructuring saga of FTX and its affiliates continues, more transactions have emerged that are being converted from the trading platform to third parties.

Transfers worth half a billion dollars:

The U.S. Department of Justice has already begun investigating the $400 million hack that drained digital currencies and pulled them from the FTX platform.

The court will ultimately determine whether the hack was made by bad actors benefiting from the platform’s chaotic collapse or by internal actors.

According to the statement and reports shared today during a meeting with the Official Creditors Committee (UCC) of FTX, the total number of cryptocurrencies that disappeared due to the post-bankruptcy hack rose to 10 million, equivalent to half a billion dollars.

This figure represents a significant portion of the $5.5 billion in liquid assets that debtors have reportedly identified so far.

The figures identified above refer to assets held by the FTX Group in general.

For the US branch of FTX, only $181 million of liquid assets has been identified.

$88 million in cold storage has already been placed under the control of FTX debtors, with an additional $3 million in assets pending transfer to cold storage under the control of debtors.

While the remaining $90 million caught fire and disappeared.

According to John J. Ray, the new CEO of FTX, who oversees the restructuring process due to his experience with similar bankruptcies such as “Enron”, the information provided is preliminary and has required considerable efforts to detect it.

The interim CEO has already criticized FTX for its significant lack of institutional oversight and due diligence.

Given the indiscriminate nature of the company’s accounting, Mr. Ray’s assessment of the efforts needed to identify these assets is likely to be accurate.

Mr. Ray assured creditors that he and his team had been brought to clean up the mess in FTX and would therefore do their utmost to recover as many cryptocurrencies as possible and put them in the hands of FTX creditors.

NFT sales fall to 16-month low

Here’s what to expect after bitcoin rises by 23% in 2023!

How to work in dropshipping platform

Introduction

Drop shipping is the process of selling products you have already manufactured or purchased in bulk and then reselling them to customers. In this article, we’ll show you how to start a dropshipping business using an e-commerce platform like Shopify.

1. Sell an item

To sell an item on your online store, you’ll first need to add a product in the dropshipping platform. The item should be something that is in demand and can be purchased for a lower price than what you’re selling it for (the price difference between your wholesale cost and retail price).

Once you’ve added an item, go through its details—including name, description and images—and make sure everything looks professional before submitting it for approval. This will speed up the process when it comes time for people who see your products online to buy them off of your site!

2. Buy the item for a lower price

The second step is to buy the item for a lower price. In this case, you’ll need to import from China and order in bulk.

You can also find suppliers or factories that sell this product at wholesale prices (or even below cost). You may also be able to sell directly through an online platform like Alibaba or JD.com if there’s demand for your product but not enough sellers on their platform yet. This could mean negotiating with distributors who already have access to these types of products, as well as wholesalers who specialize in selling goods at discounted rates

3. Keep the profit

The first step of dropshipping is to determine the profit you’ll make. To do this, you need to know the difference between selling and buying.

The second step is finding out how much money it costs to sell each product or service and then determining how many products or services you can sell at that price point. If you want to be successful as a dropshipper, then these two things should be part of your daily routine:

• Calculate your overhead costs (e-commerce hosting fees) by adding up all expenses associated with running an online store.
• Determine how much inventory will cost based on what type of items are selling in stores near where people live who buy similar items regularly (i.e., if they have been buying pants every month since they were born).

This topic is about dropshipping

Dropshipping is a way to sell products online without having to stock them, ship them or manage the inventory. It’s hot right now—and it can be profitable for you.

Dropshipping has become so popular that there are now more than 10 million dropshipper companies in operation worldwide. The number of people making money from this model has also risen dramatically in recent years: according to one study by Shopify Inc., 90% of its sellers have made at least $1k from their dropshipping businesses within just six months after starting out!

If you want to get started with your own ecommerce store but don’t know where to begin, keep reading for some helpful tips about setting up your own dropshipping business today!

Here are some key things to know before starting a dropshipping business:

Remember, dropshipping is a business model that allows you to avoid upfront costs and risk. You don’t have to pay for inventory or worry about shipping charges because the store where you buy your products is doing it for you-Dropshipping is a popular model for online stores because it doesn’t require you to stock items or ship them out. You can simply place orders with suppliers and have them shipped directly to your customers. -There are many dropshippers that will sell products from other companies, but there are also platforms like Oberlo that make it easy for you to find products on your own..

to consumers. Once you’ve done this, the next step is to find a supplier or manufacturer who can make your product for less than it costs to import it. In some cases, it may be possible to get a better deal on materials if you work directly with factories in China rather than distributorsHere are some tips for setting up your own dropshipping business: -Make sure that you have an attractive website that showcases all of your products. Try using Shopify or BigCommerce, which are popular ecommerce platforms that make it easy to set up an online store quickly..

-Choose a niche that you’re passionate about, and make sure that it has enough demand. You should also consider how many suppliers or manufacturers there are in your chosen niche-if there aren’t many, then it will be easier for you to find products at a low priceThe third step is to determine what your profit margin will be. To do this, you need to know how much money it costs to sell each product or service and then determine how many products or services you can sell at that price point. If you want to be successful as a dropshipper, then these two things should be part of your daily routine: Calculate your overhead costs (e-commerce hosting fees) by adding up all expenses associated with running an online store. Determine how much inventory will cost based on what type of items are selling in stores near where people live who buy similar items regularly (i.e., if they have been buying pants every month since they were born)..

Conclusion

We hope you found this topic to be helpful and informative. We would love to hear from you if you have any questions or comments. Feel free to leave a post in the comments section below!

Read more : The best trading platforms in the USA

How to work in the dropshipping platform How to work in the dropshipping platform