Olemedia/iStock via Getty Images Bitcoin (BTC-USD) is on track to end the week ~1% lower, with investors remaining wary as the contagion from the implosion of troubled cryptocurrency exchange FTX continues. The top crypto fell to an over two-year low of $15.6K earlier this week and could potentially slide further. “There’s likely more to come … Read more
The collapse of FTX Trading earlier this month has weighed heavily on the price of bitcoin, the world’s most popular cryptocurrency. Bitcoin fell to a two-year low of $15,480 early Tuesday and has tumbled nearly 18% in November. Beyond the sudden collapse of FTX, one of the world’s biggest crypto exchanges, analysts warn of a … Read more
Bitcoin recovered above US$16,000 in Wednesday morning trading as it rose along with Ether and the rest of the crypto top 10 by market capitalization, excluding stablecoins, as the market shook off lingering doubts from earlier in the week of further contagion from the now-bankrupt crypto exchange FTX. See related article: Cathie Woods buys the … Read more
While the contagion effects of FTX’s collapse still cannot be fully assessed, Bitcoin whales and OGs seem to be playing it safe. Most notably, the insolvency fate of Genesis Trading, DCG and Grayscale is hovering over the Bitcoin market like a sword of Damocles. This uncertainty is especially evident in the cohort of Bitcoin whales … Read more
(Bloomberg) — Sam Bankman-Fried’s bankrupt FTX crypto exchange owes its 50 top unsecured creditors a total of $3.1 billion. FTX Trading Ltd. and about 100 affiliated companies are starting a strategic review of global assets. Most Read from Bloomberg Investors continue to pull funds from digital-asset exchanges despite the latter’s efforts to reassure markets about … Read more
The FTX collapse continues to stoke fears of a contagion in the cryptocurrency space as investors wait to hear about businesses that may face the heat. One of the marquee names to come under the circle of suspicion is the Grayscale Bitcoin Trust (GBTC), which has seen its discount to Bitcoin’s (BTC) price reach record … Read more
So we’re now roughly two weeks removed from the start of the FTX meltdown. The coverage on CoinDesk has been without peer. Here are the biggest FTX-related stories from last week by my count: But beyond topics directly related to FTX, let’s discuss this contagion – this crypto credit contagion – everyone seems to be … Read more
Markets Currencies Cryptocurrency The collapse of Sam Bankman-Fried’s empire has sparked investor fears about banks that courted crypto companies Source link
Shares of the Grayscale Bitcoin Trust (GBTC), the world’s largest publicly traded crypto fund, are trading at a new record discount of 43% relative to the price of the underlying bitcoin (BTC). Crypto analysts are speculating as to the reason, but the added pressure comes after Genesis Global Capital, an arm of Digital Currency Group … Read more
In a letter to its investors, one of the industry’s most notable crypto venture firms, Multcoin Capital, has revealed its thesis for the coming weeks. Managing partners Kyle Samani and Tushar Jain write in a 3,400-word letter that the FTX fiasco does not spell doom for the crypto industry, as critics like Peter Schiff and … Read more