Tag: FTX bitcoin

FTX collapse crushes crypto dreams in Africa and beyond
1Dec By adminNo Comments
Technology

FTX collapse crushes crypto dreams in Africa and beyond

[ad_1] In South Africa, Nigeria and Ghana, FTX held a series of swish events in the months leading up to its bankruptcy filing in the United States on Nov. 11. Days before his FTX cryptocurrency exchange collapsed, co-founder Sam Bankman-Fried tweeted "Hello, West Africa!" - his latest nod to a region where a growing number of kitchen table investors had put their faith, and savings, in FTX.In South Africa, Nigeria and Ghana, FTX held a series of swish events in the months leading up to its bankruptcy filing in the United States on Nov. 11, which sent shockwaves through the crypto world and major coin prices plummeting. At least $1 billion of customer funds have vanished from the collapsed crypto exchange, Reuters reported, and it is now the subject of investigations by authorities in...
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Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’
29Nov By adminNo Comments
Technology

Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’

[ad_1] Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large. Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large.The largest digital coin rose as much as 2% and was trading at about $16,490 as of 7:20 a.m. in London. Second-ranked Ether also posted gains, while meme token Dogecoin surged 10% at one point. bitcoin The crypto lender unraveled in the wake of the chaotic demise of Sam Bankman-Fried's FTX exchange and sister trading house Alameda Research. But the crypto world is nervously watching for further fallout from FTX, with the spotlight trained on the likes of struggling brokerage Genesis.“The credit contagion is fa...
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Bitcoin’s Crystal Ball Has a $5,000-to-$1 Million Range Post-FTX
23Nov By adminNo Comments
Technology

Bitcoin’s Crystal Ball Has a $5,000-to-$1 Million Range Post-FTX

[ad_1] Pick a number and cross your fingers. Crypto naysayers who argue that’s the essence of Bitcoin prognostication are likely finding validation in the thick uncertainty shrouding the sector. Pick a number and cross your fingers. Crypto naysayers who argue that's the essence of Bitcoin prognostication are likely finding validation in the thick uncertainty shrouding the sector.Over the past few days, long-term targets for the world's largest token by market value have ranged from $5,000 at strategists BCA Research Inc. to $1 million by 2030 for Ark Investment Management's Cathie Wood.  The cavernous spread reflects the gnarly question of what further contagion may or may not lie ahead following the evisceration of Sam Bankman-Fried's FTX exchange and trading house Alameda Research, ...
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FTX-Induced Crypto Swoon Saps Bitcoin’s Sway on Global Investors
14Nov By adminNo Comments
Technology

FTX-Induced Crypto Swoon Saps Bitcoin’s Sway on Global Investors

[ad_1] The pain spread across cryptocurrencies by the meltdown of FTX is fracturing the link they once had with other risk assets, a sign that Bitcoin’s influence on investors may be diminishing. The pain spread across cryptocurrencies by the meltdown of Sam Bankman-Fried's FTX is fracturing the link they once had with other risk assets, a sign that Bitcoin's influence on global investors may be diminishing.The idea that Bitcoin was a worthwhile part of a diversified portfolio of risk assets is fraying, with massive losses generated by the revelation that even FTX, until recently considered one of the most blue-chip names in crypto, was unsound. That's a far cry from the start of this year, when Bridgewater estimated that 5% of Bitcoin was held by institutional-level investors.  Bitco...
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