Goldman Sachs (GS), one of the world’s leading digital banking platforms, announced plans to invest $10 million to buy or invest in crypto firms whose valuations have been impacted by the demise of the crypto exchange FTX. According to Reuters, Goldman Sachs’ head of digital assets Mathew McDermott stated that
Morgan Stanley warned in a study published on Monday that Silvergate Capital (SI) faces a variety of risks due to the turmoil in the cryptocurrency industry after the bankruptcy of the crypto exchange FTX. Wall Street bank team led by analyst Manan Gosalia slashed Silvergate shares ratings to underweight from
The memo, headlined “The financial-market surprises of 2023,” was released by Standard Chartered Bank on Sunday. Eric Robertsen, Standard Chartered’s global director of research, said that some of the possibilities outlined in the report are “under-priced by the markets.” The price of bitcoin may fall below $5,000 in the next
After the demise of FTX, the blockchain-based institutional capital marketplace Maple Finance declared on the 5th that it will sever all links with Orthogonal Trading due to the alleged falsification of finances. Maple Finance claims that the decision was made because Orthogonal Trading had been “operating while effectively insolvent” for
Nexo, a crypto borrowing and lending industry revealed on December 5 that it intends to shut off its services in the United States over the next few months. It also stated that it was halting its products and services in the United States due to a lack of regulatory clarity.
Jim Cramer, head of CNBC’s Mad Money, cautioned investors that they still had time to liquidate their cryptocurrency holdings. Cramer warned investors to liquidate their cryptocurrency holdings before it’s too late since he anticipates a market collapse in 2023. He continued by saying that it’s never too late to sell
The aftermath of the fall of the FTX crypto exchange has been extremely catastrophic. No one ever imagined that the impact would be this huge. The aftermath acted like a chain of events one unfolding after the other, ultimately crumbling down the entire crypto industry to the grounds. In such
Sam Bankman-Fried, the former CEO of FTX, has said he won’t testify before Congress until he’s finished learning and assessing what transpired. U.S. Representative Maxine Waters invited Bankman-Fried to appear at a hearing for the U.S. House Committee on Financial Services on December 13 to investigate “what happened” at FTX
In a hearing on Thursday titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse,” U.S. Senator John Boozman (R-AR), the ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, discussed bitcoin and cryptocurrency regulation. Moreover, the committee’s mandate includes monitoring the American commodities markets.
The Nobel prize laureate Paul Krugman is warning that blockchain-based projects, such as Bitcoin and other cryptocurrency networks, will soon enter an unending cryptocurrency winter. A column written by an economist and published in the New York Times on December 1st explains the technology’s true value and the warning signals
