Bitcoin ‘Back With A Vengeance’ – Crypto Liquidity Crisis Is Over, Citi Repor...
Bitcoin could be seeing the proverbial light at the end of the tunnel, at least that’s what a major American multinational investment bank is saying on its latest findings. Multiple evidence indicate that the liquidity crisis in the broader cryptocurrency markets may have seen the worst. This is the conclusion suggested by Citi Bank, in […]
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Citigroup, Inc., better known as just ‘Citi,’ is the 3rd largest US bank by assets, and the 13th largest in the world. Founded in 1812 and headquartered in Manhattan, Citi was one of the primary dealers of US Treasury securities up until the 2008 financial crisis. The recession took a heavy toll on the bank, requiring a bailout from the US government to....
Following the UST depeg, the crypto market started to crumble: crypto institutions crashed, exchanges suspended withdrawals, and lending protocols suffered from liquidation and runs, presenting a huge liquidity crisis. The domino effect has also fully revealed a DeFi crisis. In 2020, everyone had been excited for the DeFi Summer, and the huge popularity of liquidity […]
The United Kingdom, is often one of the friendlier places when it comes to Bitcoin legality, especially when compared to US regulation, such as the New York BitLicense. Citi, a global banking and financial corporation, recommended that the UK take its acceptance one step further with the creation of a UK cryptocurrency. In a document submitted by Citi to the British government, Citi noted the risks involved with digital currency. However, Citi also mentioned the untapped possibilities that digital currencies like Bitcoin can offer:
Following a liquidity crunch, FTX reached out to Binance to solve its liquidity issues through acquisition to keep FTX customers whole.
According to on-chain data, FTT token supply increased by 124.3% on September 8 when 173 million FTT tokens were created by a 2019 ICO contract, and Alameda was the recipient. The rumors about the possible liquidity crisis for the world’s third-largest crypto exchange turned out to be true. Just a day after assuring funds are fine, and they have the assets to back customer’s funds, FTX CEO Sam Bankman-Fried (SBF) announced on Tuesday that Binance has shown intent to acquire the global crypto platform to help with the liquidity crisis.The liquidity crunch came as a surprise to many, given....