Coinbase Drops 10% On Binance-FTX Contagion, Says No Exposure To FTT
Coinbase allayed fears of its clients in the face of worries that it might have been affected by a development that made the crypto space lose all of its gains since it rallied back in October 25. On Tuesday, the price of shares of the cryptocurrency exchange platform declined by 10.78% as it settled to […]
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The Binance-FTX drama continues as the deal between the parties hangs by a thread. Yesterday, FTX announced a deal with its competitor to surrender its assets amid a “liquidity crunch.” The crypto exchange has billions of dollars in losses on its balance sheet. Related Reading: Coinbase Drops 10% On Binance-FTX Contagion, Says No Exposure To […]
Investment firm Galaxy Digital has been affected by the consequences of the “crypto exchange wars” between FTX and Binance. The former platform entered into a non-binding agreement with Binance to potentially sell its assets except for FTX.US. Related Reading: Mark Zuckerberg’s Meta Lays Off 11,000 Employees The crypto exchanges struck the deal as FTX faced […]
Ark Investments topped up its Coinbase stock shortly after FTX's liquidity issues were revealed, which came after Coinbase stated that it had “minimal exposure” to the troubled trading platform. Amid the FTX and crypto market chaos, Cathie Wood-led Ark Investments has increased its Coinbase (COIN) holdings with a purchase of 237,675 COIN shares worth about $12.1 million on Nov. 9. Of the 237,675 COIN shares, Ark Investment Management added 207,527 shares to its ARK Innovation ETF (ARKK), 22,416 shares to its ARK Next Generation Internet ETF (ARKW), and another 7,732 shares to its ARK....
Amidst the FTX drama, it is still not clear what contagion effects the collapse of the world’s second largest crypto exchange will have on the industry as a whole. In addition to numerous hedge funds that have already spoken out about their exposure to FTX and Alameda, several exchanges are currently in the spotlight. The crypto community is currently evolving into on-chain detectives who want to discover if and which crypto exchanges are also mishandling their customer funds, trading with them, and thus not holding enough reserves. If a bank run like the one on FTX were to happen,....
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.....