As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked the phones in a futile bid to raise $7 billion in emergency funds. Hunkered in his Bahamas apartment, Bankman-Fried toiled through the night, calling some of the world’s biggest investors, including Sequoia Capital, Apollo Global Management […]
Crypto Crash
FTX is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday, as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals. Bankman-Fried has discussed raising $1 billion each from Justin Sun, the founder of crypto token Tron, […]
The Cryptocurrency Terra Luna crash shocked the crypto world upon its unfolding a while back. In an upset that shook the crypto world, Terra came crashing down. The Cryptocurrency Terra Luna’s plummet towards the crypto abyss was so impactful it de-pegged the stablecoin TetherUSD(UST). Such a massive collapse can teach us a lot upon reflecting […]
The Crypto market is an exciting thing to observe, unpredictable and never constant. Since its dawn, the world of Crypto has puzzled many investors and enthusiasts alike. Its first crash took the world by surprise, but now each blow is a case to study. Instead of just deeming crashes as mere crashes, they are sometimes […]
Cryptocurrencies have been hard hit by fears interest rate hikes will end the era of cheap money, with the world’s largest digital asset, bitcoin, down more than 56 percent from this year’s high. Several crypto companies have filed for bankruptcy or have been forced to look for emergency capital infusions. THREE ARROWS CAPITAL Singapore-based crypto […]
Singapore-based crypto lending and trading platform Vauld said on Monday it would suspend withdrawals and trading and seek new investors, the latest sign of stress in the embattled crypto industry. Vauld CEO Darshan Bathija said in a blog post that it was facing “financial challenges” due to: “the volatile market conditions, the financial difficulties of […]
The entire crypto market has been playing limbo, seeing how low it can go day after day. As the lowest plunge hits an 18-month record low in overall value, we are all left wondering what led to the crypto crash and what the biggest factors were that culminated in the perfect storm of recent months. […]
Following the Terra Luna (UST) crash that shook the crypto market to its core, many investors were rightly afraid that their other crypto assets would follow suit. This fear is partly what led to the crypto market having its worst crash since 2020. That fear is multiplied tenfold when talking about USDT (Tether). One major […]