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Tag: Exchanges

An exchange is a platform that allows you to trade digital assets.

All the crypto companies that went bankrupt in 2022

All the crypto companies that went bankrupt in 2022 [so far]

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These are all the bankruptcies so far in the crypto world. We had to make a list to follow along with the thread. The crypto winter with inflation and the crash of Terra brought the least desired effects in the crypto world: a domino of companies exposed to unpayable debts, liquidations, and bankruptcies. It started with Celsius, followed by 3AC and then others followed. Some of the reasons that produced this are already known: The...

Blockfi, Cryptocurrencies, Exchanges, Front page, FTX

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zipmex

Celsius, Babel links strike exchange Zipmex

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The freezing of withdrawals at the Singaporean cryptocurrency exchange Zipmex is an indication that smaller companies in the ecosystem for digital assets are still having trouble obtaining sufficient liquidity. Following in the footsteps of previous comments made by another Singapore-based company, Vauld, Zipmex, in a tweet sent out on Wednesday, the company said that the decision was taken due to unstable market circumstances and the financial...

Bitcoin, Cryptocurrencies, Exchanges, Front page

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coinbase

Coinbase’s surged 14 % after saying it has no exposure to 3AC, Celsius, and Voyager

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In an effort to ease concerns about the effects of a liquidity crisis in the sector on its company, Coinbase said that it has no counterparty exposure to many bankrupt crypto businesses. The heads of Institutional Trading, Credit, and Market Risk for the publicly listed cryptocurrency exchange said in a blog post that the company has “no financial exposure” to insolvent businesses Three Arrows Capital, Voyager Digital, or Celsius...

Coinbase, Cryptocurrencies, dApps, Exchanges, Front page

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Celsius reveals a $1.19 billion bankruptcy deficit

Celsius reveals a $1.19 billion bankruptcy deficit

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Celsius Network has begun bankruptcy procedures, the business said late Wednesday night, making it the third prominent cryptocurrency lender to do so in the last two weeks. The New Jersey-based company has filed for Chapter 11 bankruptcy with the Southern District of New York, citing $167 million in liquid assets to support operations through reorganization. Thus the company is a sad new addition to the list of bankrupt crypto companies. As...

Cryptocurrencies, Exchanges, Front page, News

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Three Arrows Capital liquidators can't locate founders

Three Arrows Capital liquidators can’t locate founders

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According to court records recently filed in New York, the co-founders of the defunct crypto hedge firm Three Arrows Capital seem to be evading creditors. Russell Crumpler and Christopher Farmer, who were appointed by a British Virgin Islands court to serve as 3AC’s liquidators and wind down operations, reported in a July 8 filing with the U.S. Bankruptcy Court in New York’s Southern District that the whereabouts of Zhu Su and Kyle...

Cryptocurrencies, Exchanges, Front page, News

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