Bitcoin sinks to new yearly low at $16.8K as FTX insolvency fears turn into c...
BTC and altcoins continue to sell-off, hitting new yearly lows as the collapse of FTX begins to drastically impact investors across the entire crypto market. Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment. Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of their agreement to acquire the beleaguered exchange. Crypto market performance. Source: Coin360.comOther factors having a potential....
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Danny Yuan said that their team detected that $1 million was missing from their company's funds at Three Arrows Capital (3AC). Danny Yuan, the CEO of trading firm 8 Blocks Capital, called out to platforms that are holding funds owned by 3AC to freeze the assets, as rumors of 3AC’s insolvency stay afloat. In a Twitter thread, Yuan explained their company’s involvement with 3AC, noting that they are paying the company to use the trading accounts that they own. The agreement included the ability to withdraw funds at any given time. He explained that: “We had known them since 2018, thought....
Mt. Gox exchange wallet may have mangled transactions. In a candid discussion on Reddit, Bitcoin Developer Gregory Maxwell has provided some insight into the technical difficulties being faced by Mt. Gox and dismisses rumours of insolvency. His musings point to practical obstacles posed by Mt. Gox's use of the Bitcoin protocol and their custom wallet implementation. Insolvency - "just hysteria". First of all, it is noteworthy that Maxwell dismisses allegations of Mt. Gox's imminent insolvency as "just hysteria". But then, what exactly are the supposed causes of the massive disruption....
Cryptocurrency exchange Nuri has filed for insolvency, reportedly becoming Germany’s first fintech to take the step in a challenging year for startups in the industry. Customer access to the platform’s services and their funds will not be affected, the company assured. Crypto Exchange Cites ‘Lasting Strain on Liquidity’ as Reason for Insolvency Filing Berlin-based crypto exchange Nuri, formerly Bitwala, has filed for bankruptcy with a court in the German capital. The company made the move on Tuesday, Aug. 9, after unsuccessful attempts to secure a new financing....
Celsius’ problems look like they have only just begun but there is a lot of data that shows that the current insolvency had been a long one in the making. As investors gnash their teeth about not seeing the issues fast enough, we take a look at these signs and why they may have been […]
Bitcoin continues to observe new yearly lows for volume as volatility also continues to decline further. Bitcoin Volume And Volatility At Yearly Lows As per an Arcane Research report, the 7-day average trading volume for BTC continues to hit yearly lows. This is the third consecutive week that the indicator has plunged down. The below […]