Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
FTX Crash
Bahamas Supreme Court Orders FTX to Cover Custody Costs
As new developments emerge pertaining to the failed exchange, FTX continues to take hits from various sides. The latest blow to Sam Bankman-Fried’s crypto empire is an order from the Supreme Court of Bahamas, where the company was based. Likewise, FTX's impressive roster of ambassadors is now under scrutiny from regulators. FTX to Cover Asset Custody Costs FTX now must reimburse the Securities Commission as the regulator took custody of the platform’s assets after its bankruptcy filing. Indeed, on Nov…
3 years ago
Crypto Lender Genesis Tried But Failed to Get $1B Emergency Funds
According to new reports, crypto lending platform Genesis sought to obtain a $1 billion loan at the start of the week. The company reportedly sought emergency funds on November 14 in the wake of the FTX crash. However, Genesis was unable to gather the money it needed. Genesis Global May be Facing Liquidity Problems A Washington State Journal report cited a crucial fundraising document as the source of its data. Per the paper, Genesis Global Capital is facing liquidity issues…
3 years ago