The Contagion fears spread across Cryptocurrency industrymake Bitcoin while the Market Hurry up to see who is exposed to an empire digital assets From Fried Sam Bankman.
BitcoinThe Cryptocurrency Traded in the world, it has fallen to 15,700 dollars, and reached Lowest level since the end of 2020. Aharon Cryptocurrency It also experienced strong selling pressure, while entities associated with encryption included in traditional markets They signed.
Then came the new wave of selling Binance Abandon your agreement To buy FTX cryptocurrency exchangeFrom Fried PankmanJust one day after agreeing to rescue to his smaller rival.
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Cryptocurrency investors have also turned their attention to Alameda Researcha commercial Corporation control it too Fried Pankman Who was in the eye of the storm sweeping FTX.
Market Concerns About .’s Financial Health Mall Tuesday accelerated, resulting in cumshot on ftxpayment to Fried Pankman Search for binance rescue.
Traders are worried that the collapse Mallone of the largest operators in FTXcan be born Ramifications quickly in markets.
“[Alameda] Rushing to liquidate assets in balance sheets to meet them debt obligations, which are many. In addition to Loans owed to FTXAnd the Mall He is also an active participant in decentralized finance [DeFi]said Shaun Farrell, Head of Digital Asset Strategy at Fundstrat, a market research provider.There are ample reasons to believe that the risk of more Contagion“.
CEO BinanceAnd the Changpeng Zhao walked away from the negotiating table after less than 48 hours of due diligence, having concluded that The magnitude of the financial problems and possible FTX Violations Make agreement impossible.
“As a result of corporate due diligence, as well as recent news reports of mismanagement of client funds and alleged investigations by US agencies, we have decided that we will not pursue the potential acquisition of FTX.com“, He said Binance.
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The Cryptocurrency traders They already assumed it Binance We will leave Mall to defend itself, and dismantling their positions will increase pressure on A Market Which is already almost swaying FTX crash Asset values have fallen by two-thirds this year.
“Players Market Cryptocurrency They react faster to news and rumors, which in turn generates a liquidity crunch Much faster than it can be seen in Conventional FinanceFabian Astich, President of decentralized finance s digital assets rating agency Moody’s.
digital galaxythe financial group of Cryptocurrency American billionaire, Mike Novogratz, said on Wednesday that he had been exposed to nearly $77 million in cash and digital assets a FTXOf which $47.5 million They have been removed.
Others were quick to reassure the market that they were not exposed to exchange o FTTThe cryptocurrency to trade on FTX. Brian Armstrong, CEO of Currencysaid his company “has no material exposure to FTX also FTT‘And not being exposed to Mall.
The biggest risks will be borne by the companies that have lent their assets Mall and the Cryptocurrency projects The business has invested heavily in it, property it may now have to sell to balance its books.
The company was one of the The main promoters of the Solana blockchainwhose original token has lost more than 40% of its value for dollar Wednesday.
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“I don’t see the situation in it [Alameda] Coming back from this (…) I think they were betting a lot on the value of this cryptocurrency FTTSaid one of the people familiar with the matter. “Alameda should have been able to fix this if he had already said something, and that’s a clear sign that he’s not doing it.”
John de Witt, chief investment officer of crypto wealth management firm Zerocap, which you trade with Mall said in the past Mall Until recently, he was viewed as a powerful counterpart to Lenders and the hedge funds in every Cryptocurrency industry.
“Mall It was a respectable companyHe said, “I think there will be many companies that would have been exposed Mall“.
The commercial Corporation Ltd. In 2017 by Fried Pankman for Search Arbitrage opportunities in different lanes and exchanges in the fledgling Crypto Asset MarketSince then, it has expanded its activities.
Alameda has arrived before FTX. It will keep you balanced and save you Liquidity to me exchanges And earn the spread. I will also accept directional bets as a registered business.”
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