$3 billion in Bitcoin left exchanges this week amid FTX contagion fears
It appears that more investors are choosing to self-custody their BTC funds in the wake of the FTX scandal and fallout. Bitcoin (BTC) investors are withdrawing funds from exchanges at a rate not seen since April 2021 with nearly $3 billion in Bitcoin withdrawn over the past seven days.New data from on-chain analytics firm Glassnode shows the number of wallets receiving BTC from exchange addresses hit almost 90,000 on Nov. 9.Exchange users wake up to self-custodyAmid ongoing turmoil over the bankruptcy of major exchange FTX, concerns have heightened among exchange users over security of....
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The price of Bitcoin has once again fallen below the crucial $20,000 mark in the past few hours. The crash occurred around 12:00 pm EST amid concerns about whether the crypto market is in danger of another Terra Luna/ Celsius disaster. Bitcoin investors seemingly responded with a risk-sell-off. According to analytics service Coinglass, $112.83 million […]
With the closing of withdrawals at Celsius and the news of Three Arrows Capital being insolvent, it is more important than ever to hold your own keys.
Bitcoin’s stint above $40,000 continues as the market ushers in another week of trading. The weekend had been a rollercoaster for investors but prices have since started to level out. With the break above $40,000 last week, faith has gradually returned to the market, causing more people to invest in the digital asset. Amid this has emerged an accumulation pattern that suggests a bullish outlook for the long-term. Exchange Outflows Rise Over the past week, bitcoin exchange outflows have been on the rise. This is marked by the recovery of the digital asset’s value above the $40,000 level.....
Nexo says it currently has no exposure to Three Arrows Capital and has 100% liquidity to meet its debt obligations. The price of Nexo (NEXO) continued to fall on June 15 as crypto lending firms continue to be shaken by the falling cryptocurrency market.Meanwhile, Nexo has denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks.NEXO price suffers on DeFi contagion fears NEXO, which serves as a security token at a cryptocurrency lending platform of the same name, fell nearly 25% to $0.61 a unit, its lowest price reading since January 2021.....
After major Turkish crypto exchange Thodex abruptly halted trading amid fears of a possible exit scam, police have already detained 62 people across eight provinces and issued detention warrants for 16 more. Turkish police have detained 62 people as they continue to investigate an alleged exit scam potentially affecting 391,000 crypto exchange users and roughly $2 billion in investments. Yesterday, Cointelegraph reported that the major Turkish crypto exchange Thodex had abruptly halted trading and withdrawals amid reports of police raids. Today, in addition to the 62 already detained....