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Tag: FTX

BlockFi’s U.S. bankruptcy filing

Two weeks ago, BlockFi banned withdrawals owing to “lack of clarification over the fate of FTX.com, FTX US, and Alameda.”As previously mentioned by the BlockFi team, the move would be directly spurred by the demise of FTX, the business that initially offered a $400 million credit line to fund the crypto-lending startup. This is in addition to the exchange formed by Sam Bankman-option Fried’s to acquire for an additional $280...

Bankruptcy, Blockfi, Cryptocurrencies, Front page, FTX, Main, News, Sam Bankman-Fried

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Crypto Contagion: Bank of America downgrades Coinbase to Neutral, COIN down 7%

Bank of America (BofA) has downgraded the shares of Coinbase, a cryptocurrency exchange platform, after the collapse of the FTX cryptocurrency exchange, while warning of contagion risks in the volatile industry.Coinbase told its customers that the company is not exposed to FTX. However, Sam Bankman-failure Fried’s exchange’s continues to impact the whole market.According to Yahoo! Finance, Jason Kupferberg, senior equities...

Coinbase, Crypto regulation, Cryptocurrencies, Front page, FTX, Main, News

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How far does the FTX contagion go?

Just as 2021 will be recognized as the year institutional money began to enter the crypto world, 2022 will surely be infamous for the seemingly endless list of problems and bankruptcies in the crypto world. When it came out that Sam Bankman-Fried, the founder of FTX, had taken $10 billion off of FTX’s balance sheet to fix a problem at his sister quantitative trading firm, Alameda Research, the cryptomarkets became very unstable.Until...

Cryptocurrencies, Exchanges, Front page, FTX, News, Sam Bankman-Fried

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Kevin O’Leary: Idiot managers always get wiped out and that’s okay

Bitcoin is held mainly by individuals, some family offices, and some hedge funds, but in the context of what can be a nothingburger.Is Bitcoin a hedge against inflation?So far it has not worked despite the absence of regulation, as it is not being indexed. It may be a chicken and egg conundrum, and may be more valuable than gold. However, institutions are allowed to own gold, and they own up to five percent of allocations or ETFs that...

Bitcoin, Crypto adoption, Crypto regulation, Cryptocurrencies, Ethereum, FTX, People in crypto

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“I F*cked Up,” Declares FTX’s Founder

According to Sequoia Capital, Bankman-Fried, 30, CEO of FTX crypto exchange, was ready to become the world’s first “trillionaire.” This week, FTX openly crumbled.Three days before, the letter said that “a rival is attempting to use fake information against us,” presumably targeting Binance. Before removing it, he tweeted, “FTX is ok and assets are fine.”Later, the biggest cryptocurrency exchange...

$FTT, Binance, Crypto regulation, Exchanges, Front page, FTX, News

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The FTX loss erodes faith in the crypto community

On Tuesday, the cryptocurrency market went down because there were rumors that cryptocurrency exchange FTX might go bankrupt and questions about the health of its sister company, Alameda Research.When Binance founder Changpeng Zhao announced over the weekend that the business would liquidate its $FTT holdings, investor confidence was rattled.Multiple on-chain data sources show that clients of FTX, the third largest crypto exchange by volume,...

Binance, Crypto market, Cryptocurrencies, Exchanges, Front page, FTX, News

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

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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Sam Bankman-Fried saves BlockFi and Voyager

Sam Bankman-Fried, the co-founder of crypto exchange FTX and quantitative trading firm Alameda, has emerged as something of a savior for the crypto market.Bankman-Fried’s two companies have agreed to provide $500 million in financing to Voyager Digital and $250 million in credit facilities to BlockFi — both struggling crypto startups looking for lifelines.BlockFi, which provides loans against cryptocurrency collateral, has been struggling...

Blockfi, Companies, Crypto market, Exchanges, Front page, FTX, News

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