Crypto Markets Today: Bitcoin Surges Above $22K, Genesis Has Over $5B in Liabilities
Bitcoin rose 6% to trade at $22,300. Ether was also trading up, by 5% to $1,640. Equities closed up.
Binance Garnered Largest Market Share of Crypto Investors From Emerging Markets in 2022
A CryptoCompare report found that as inflation surged worldwide, the crypto exchange giant attracted the largest number of retail investors from countries facing high inflation.
Stellar Foundation Nicked by Genesis Bankruptcy With $13M Claim
The Stellar Development Foundation was revealed to be among the bankrupt crypto lending desk’s largest creditors.
Bitcoin Miner 1Thash Sent Almost All Its BTC to Binance
On-chain data sourced from CryptoQuant shows that the 5,592 BTC worth some $124 million that was transferred out of the miner’s address in the past three days ended up in Binance.
Bitcoin Soars Over $22K to Reach Four-Month High
Bitcoin rose over 5% and reached its highest level since mid-September. Market watchers will be eyeing the Federal Reserve’s next utterances.
Moody’s Further Downgrades Coinbase Junk Bonds, Joining S&P
The ratings agency cited Coinbase’s weakened revenue and cash flow generation potential due to the ongoing crypto winter as reasons for the move.
What’s Next for Genesis Creditors? It Depends on What’s in the Bankruptcy Filing
Eric Snyder, partner at Wilk Auslander LLP, says that a substantial amount of haircuts are likely to be made, but that depends on the petition Genesis’ trio of companies filed.
SEC Sues Eisenberg for Draining Mango Markets, Alleges MNGO a Security
It’s the latest case to emerge from Avraham Eisenberg’s “highly profitable trading strategy.”
Bad Vibes from the Word ‘Crypto’ Have Some Calling for a Rebrand
Money-making associations with cryptocurrencies misrepresent them as just currencies and fail to acknowledge the diverse applications of the technology.
Sullivan & Cromwell Gets Go-Ahead to Represent FTX in Bankruptcy Proceedings, Despite Controversy
James Bromley, a partner at Sullivan & Cromwell, said former CEO Sam Bankman-Fried has been stirring the pot by “lashing out” on Twitter.