Tag Archives: ftx

Republican Senator of Wyoming Cynthia Lummis says what happened with FTX is exactly why Congress needs to begin paying attention to cryptocurrency. She cited the bipartisan bill she established in early 2022 with New York congresswoman Kirsten Gillibrand (a democrat from New York) and said U.S. regulators need to give the bill their full attention so that what happened with the exchange can never happen again. Cynthia Lummis on the Future of Crypto in Congress Lummis is...

It’s happened again, folks. Another digital currency company has filed for bankruptcy protection. This time, it’s Block Fi, a crypto lending platform, which was reported to be heading in this direction back in late December. Block Fi Is the Latest Crypto Firm to Crash Ironically, the company was one of the few to be “saved” by FTX earlier in the year, though now that its savior is crashing and burning before the eyes of the public, Block Fi no longer has what it takes to...

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DCG (Digital Currency Group) – the crypto company that owns Grayscale – is allegedly $2 billion in debt, giving traders and crypto analysts a lot to be anxious about. DCG Is Allegedly Dealing with Tons of Debt Barry Silbert – the man who founded DCG – stated in an interview: We have weathered previous crypto winters. While this one may feel more severe, collectively we will come out of it stronger. The goal was to try and calm people’s nerves, though this is easier said...

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Changpeng Zhao – the man behind famed digital currency exchange Binance – has pledged roughly $2 billion to help save the digital currency arena. Binance Is Looking to Save the Crypto Space The crypto space has been failing as of late. Bitcoin, for example, has lost more than 70 percent of its overall value since it reached its new all-time high of about $68,000 per unit in November of 2021. In general, crypto has lost more than $2.2 trillion in valuation, and many...

Tom Lee of Fundstrat fame believes that what happened with the now disgraced crypto exchange FTX should not reflect on bitcoin or the industry in general. He still believes in the power of crypto and doesn’t think the arena should suffer because of what a few bad actors have done. Tom Lee on Bitcoin and FTX In a recent interview, Lee commented that the current bear run the crypto space is enduring is similar with the one it experienced in 2018. He said that bear run came...

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