On Thursday, experts at JPMorgan Chase, headed by global market strategist Nikolaos Panigirtzoglou, released their assessment of the FTX scenario and bitcoin price forecast. The researchers elaborated on the decline in the number of strong competitors in the crypto market. The analyst stated: “What makes this new phase of crypto
Due to a severe lack of funds, cryptocurrency exchange FTX announced on Friday morning that it has filed for bankruptcy protection under Chapter 11. The previously $32 billion exchange suddenly collapsed due to a liquidity issue, and the company announced the resignation of former CEO and billionaire Sam Bankman-Fried. John
Ever since the fight between FTX and Binance, things have been taking a quite different approach throughout the entire crypto industry. With the onset of the rivalry between CZ and Sam, both being the CEOs of top crypto exchanges, indeed affected the entire global crypto industry on many terms. Though
Binance CEO Changpeng Zhao stated that the devaluation of FTX will have “cascading effects” during a conference in India. The CEO thinks a catastrophe is approaching, and the imploding cryptocurrency platform is the first domino. The terrible decline of FTX has been front-page news everywhere this week. More recently, it
In an interview with Bloomberg on Friday, Justin Sun, Tron’s founder, said his team is doing due diligence on a possible purchase of FTX. The primary reasons for the move include ending the FTX liquidity issue and demonstrating industry solidarity. To alleviate the present liquidity crisis, Justin Sun and Sam
Genesis Trading, the market maker and lending arm of Digital Currency Group, disclosed that its derivatives division had over $175 million funds stored in an FTX trading account. Also, the trading company confirmed that it has no ongoing business ties with FTX or Alameda Research, the cryptocurrency trading company run
BlockFi, one of the leading crypto lending firms has declared withdrawal halting “as per their terms”. The clients are furthermore restricted from depositing in BlockFi wallets and interest accounts. pic.twitter.com/zNF1uP6evl — BlockFi (@BlockFi) November 11, 2022 FTX’s financial struggle is snowballing along with its international counterparts. The bad effect of
Binance, the top cryptocurrency exchange in the world, declared on Wednesday that it will not proceed with the acquisition of FTX. As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will
420,949 shares of Coinbase (COIN) were acquired by Ark Invest, an investment company led by protracted Bitcoin advocate Cathie Wood, for just around $21.4 million, as reported by the firm’s daily transaction brief. About 33,000 of the total bought shares went to ARKK, the company’s flagship exchange-traded fund (ETF) that
Following Binance’s announcement that it will acquire FTX, Coinbase CEO Brian Armstrong went to Twitter to address customers’ worries about the exchange’s impact on his company. Armstrong began by expressing his empathy for everyone affected by the present FTX issue. In a series of Twitter threads, Armstrong cleared out a
