Delete cryptos out profits, FTX token continues to slip into bankruptcy news
Delete cryptos out profits, FTX token continues to slip into bankruptcy news
Due to the news that the slaughter in the crypto room will affect far more than one stock exchange, tokens slipped on Friday and FTX from Coin after the news of the bankruptcy of the company.
The FTT has dropped by about 19 % in the last 24 hours, which corresponds to a decline of seven days at around -90 %. Bitcoin and Ether, both of which recorded double -digit growth on Thursday, fell back into old patterns on Friday and lost 5 % or 4 % at 10:30 a.m.
"I'm really sorry again that we have ended up here," said Bankman-Fried Twitter Friday. "Hopefully things will find a way to recover. Hopefully this can bring you a certain degree of transparency, trust and governance."
Sam Bankman-Fried resigns from his position as CEO of the FTX Group, as the official Twitter account from FTX announced on Friday morning. Around 130 companies belonging to Bankman-Fried’s FTX Group have also started a voluntary bankruptcy proceedings.
"The market is in motion, and it would be pointless to try to make short to medium-term predictions", wrote the analysts of Chainalysis in A Note Friday.
Investors are nervous, said the analysts of Chanalysis and referred to the increasing trading volume of crypto to stablecoin and crypto to USD on the stock exchanges.
"In times of volatility and panic, we expect crypto users to seek protection in the stability of Fiat currencies," the note says. "There are two ways to do this: trade in stable coins that are bound to fiat currencies like the US dollar, or complete liquidation and exchange of cryptocurrency against Fiat."
The infection has already been used in the entire industry. The crypto loan blockfi, which FTX saved in the middle of this year in the middle of the first round of crypto turbulence in 2022, exposed the payments. The suspension takes place only two days after the lender has insured to the user that it is fully functional.
Blockfi said in a tweet on Thursday, the uncertainty about ftx.com, ftx us and alameda research made it impossible to work as usual.
"Co -founder Flori Marquez had previously tweeted that the company had remained an independent unit despite its rescue agreement with FTX - which implies that it was largely not affected by the implosion of the stock exchange," said Ryan Selkis, founder of Messari, in a note on Friday. "The collapse of the FTX crypto exchange has a strong impact on the markets-but on a more personal level, employees who believed that working for one of the most credible crypto platforms are stuck."
A Canadian pension fund for teachers also reported an engagement of around $ 95 million that are bound in Bankman-Frieds Imperium Finanzpost .
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The post "Cryptos Erase Gains, FTX TOKEN SLIPS FURTHER on Bankruptcy News" is not a financial advice.