This bear market has seen the collapse of Celsius, Three Arrows Capital, Voyager, and now FTX, but the worst is likely over, a hedge fund executive suggests. While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange’s fall from grace should be the last catastrophic event —…
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CME Bitcoin futures briefly traded at a 5% discount, alarming analysts, but what does it mean for BTC price? The Chicago Mercantile Exchange (CME) Bitcoin (BTC) futures have been trading below Bitcoin’s spot price on regular exchanges since Nov. 9, a situation that is technically referred to as backwardation. While it does point to a…
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On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter…
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The commissioner warnes that vulnerabilities seen within the crypto markets are similar to those seen during the global financial crisis and calls for the agency to be given additional authority. Commodity Futures Trading Commission’s (CFTC) Christy Goldsmith Romero has pointed to the collapse of the Terra ecosystem and its flow-on effects as an example of…
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The crypto contagion only hurt entities that poorly managed their treasuries, but didn’t affect the underlying blockchain technology, he said. The crypto contagion sparked by Terra’s infamous implosion this year only spread to companies and protocols with “poor balance sheet management” and not the underlying blockchain technology, says Kraken Australia’s managing director Jonathon Miller. Speaking…
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A strategist at JPMorgan predicts that the worst of the bear market could be over as stronger crypto firms have come in to bail out the industry in the midst of major deleveraging. The historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of…
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Traders brace for more bad news after headlines revealed that Voyager Digital had lent $655 million to Three Arrows Capital. Is another crypto market sell-off on the way? The Singapore-based crypto venture firm Three Arrows Capital (3AC) failed to meet its financial obligations on June 15 and this caused severe impairments among centralized lending providers like…
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