- FTX is the latest cryptocurrency company this year to come under financial pressure as crypto assets have collapsed in value
Cryptocurrency prices today rose as the world’s largest and most popular digital token Bitcoin’s was trading nearly 2% higher at $16,947. The global crypto market cap today remained below the $1 trillion mark, even as it was almost flat in the last 24 hours to $873 billion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also plunged by more than a per cent to $1,227.
Meanwhile, dogecoin price today was trading 0.4% higher at $0.08 whereas Shiba Inu was also flat at $0.000009. Other crypto prices’ today performance were mixed as Binance USD, Avalanche, Tether, XRP, Terra, Tron, Litecoin, Stellar, Chainlink, Polkadot prices were trading with gains over the last 24 hours whereas Solana, Uniswap, Polygon, ApeCoin, Cardano fell.
Crypto lender Genesis was seeking an emergency loan of $1 billion from investors before it suspended withdrawals on its website, the Wall Street Journal reported on Thursday, citing a confidential fundraising document. On Wednesday, Genesis Global Capital suspended customer redemptions in its lending business, citing the sudden failure of Sam Bankman-Fried’s crypto exchange FTX.
The implosion of FTX has rippled across the industry, hobbling liquidity at firms with exposure to what was once one of the world’s biggest crypto exchanges, and prompting investigations by regulators in several countries. The crypto market is teetering after the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States. Last week, FTX filed for the US bankruptcy protection and its founder Sam Bankman-Fried resigned as chief executive, after rival exchange Binance walked away from a proposed acquisition.
In another news, Binance’s US unit is relaunching its bid to buy bankrupt lending platform Voyager Digital, Coindesk reported on Thursday, after Voyager ended the deal with FTX this week and said it was in active discussions with several alternate bidders.
FTX is the latest cryptocurrency company this year to come under financial pressure as crypto assets have collapsed in value. Other failures include Celsius, a bank-like company that took in crypto deposits in exchange for yield, as well as an Asia-based hedge fund known as Three Arrows Capital.
(With inputs from agencies)
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp
How To Make Huge Profits In A Short Time With CryptoGet detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.
Crypto + NFT Quick Start CourseThe #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet
