Trending: Investing in Bitcoin / 5 reasons to invest in Amazon / Investing in the Metaverse
Tuesday, March 21, 2023
INVESTOR TIMES
  • Home
  • News
    How much will the fight with Kanye West cost Adidas?

    How much will the fight with Kanye West cost Adidas?

    TD Cowen: SVB’s fall does not threaten the stability of the banking system

    TD Cowen: SVB’s fall does not threaten the stability of the banking system

    Public investment in Ireland will be only for sustainable businesses

    Public investment in Ireland will be only for sustainable businesses

    Jerome Powell warns Fed could raise rates further

    Jerome Powell warns Fed could raise rates further

    JPMorgan: “zero-day” options contracts would sink SPX

    JPMorgan: “zero-day” options contracts would sink SPX

    Used cars prices rise unusually in the U.S

    Used cars prices rise unusually in the U.S

    Chinese mobile manufacturers want to go after Apple and Samsung

    Chinese mobile manufacturers want to go after Apple and Samsung

    ACS to build a battery plant for Panasonic in the U.S

    ACS to build a battery plant for Panasonic in the U.S

    Carvana could be on the verge of bankruptcy

    Carvana could be on the verge of bankruptcy

  • Markets
    Pontegadea continues to buy real estate: now the target is London

    Pontegadea continues to buy real estate: now the target is London

    BMW adds to profits thanks to Rolls Royce and Mini

    BMW adds to profits thanks to Rolls Royce and Mini

    Puma achieves record sales in last year with Gulden as CEO

    Puma achieves record sales in last year with Gulden as CEO

    Nike and Decathlon lead as the world’s largest sports retailers

    Nike and Decathlon lead as the world’s largest sports retailers

    Walmart unstoppable: sells U$S 611 billion in 2022

    Walmart unstoppable: sells U$S 611 billion in 2022

    Experts: recession to come at the end of rate hike cycle

    Experts: recession to come at the end of rate hike cycle

    Is it time to bet on tech stocks again?

    Is it time to bet on tech stocks again?

    Is it better to invest in Stellantis or in Ford and GM?

    Is it better to invest in Stellantis or in Ford and GM?

    U.S. housing market could continue to decline

    U.S. housing market could continue to decline

  • Investing
    Hedging hurts more than stock market declines, study says

    Hedging hurts more than stock market declines, study says

    How to manage risk in times of stock market volatility

    How to manage risk in times of stock market volatility

    Gold investment price

    Why a physical gold IRA is becoming a hot investing topic

    Home Depot announces dividend increase

    Home Depot announces dividend increase

    The fall in Alibaba’s earnings softens

    The fall in Alibaba’s earnings softens

    Is it better to invest in Stellantis or in Ford and GM?

    Is it better to invest in Stellantis or in Ford and GM?

    The biggest investment mistakes made by Warren Buffett

    The biggest investment mistakes made by Warren Buffett

    Which stocks are attractive for investing in IoT and robotics

    Which stocks are attractive for investing in IoT and robotics

    Mixed results for Uber Technologies in 2022

    Mixed results for Uber Technologies in 2022

  • Technology
    Why Americans want to remove Instagram from their phones

    Why Americans want to remove Instagram from their phones

    Tesla prepares a Model Y update: what we know about “Juniper”

    Tesla prepares a Model Y update: what we know about “Juniper”

    Li-Cycle to recycle lithium batteries in Rochester

    Li-Cycle to recycle lithium batteries in Rochester

    Is it time to bet on tech stocks again?

    Is it time to bet on tech stocks again?

    Amazon goes all-in on live sports streaming

    Amazon goes all-in on live sports streaming

    Bing’s AI has “lost its mind”

    Bing’s AI has “lost its mind”

    ChatGPT’s Chinese competitor to be launched in March

    ChatGPT’s Chinese competitor to be launched in March

    Alphabet board confesses doubts about Bard

    Alphabet board confesses doubts about Bard

    Advantages and disadvantages of AI, according to Bill Gates

    Advantages and disadvantages of AI, according to Bill Gates

  • CryptocurrenciesTRENDING
    Circle’s exposure to SVB is $3.3 billion

    Circle’s exposure to SVB is $3.3 billion

    Crypto crisis drives Silvergate into bankruptcy

    Crypto crisis drives Silvergate into bankruptcy

    Censorship resistance: what is it and why is it so important in the crypto industry?

    Censorship resistance: what is it and why is it so important in the crypto industry?

    Forbes claims Binance is in trouble, Zhao denies it

    Forbes claims Binance is in trouble, Zhao denies it

    SEC reportedly preparing a battle against stablecoins

    SEC reportedly preparing a battle against stablecoins

    U.S. regulatory pressure on cryptomarket increases

    U.S. regulatory pressure on cryptomarket increases

    What is Crypto Staking and why is the SEC regulating these services?

    What is Crypto Staking and why is the SEC regulating these services?

    Shanghai: a glimpse of Ethereum’s next update

    Shanghai: a glimpse of Ethereum’s next update

    Manchester City token collapses for this reason

    Manchester City token collapses for this reason

S&P 500 (USA) 
3.951.57  34.93  0.89%  
NASDAQ Composite (USA) 
11.675.54  45.02  0.39%  
Dow Jones (USA) 
32.244.58  382.60  1.20%  
FTSE 100 (United Kingdom) 
7.403.85  68.45  0.93%  
EURO STOXX 50 (Europe) 
4.119,42  54,43  1,00%  
Nikkei 225 
26.945.67  388.12  1.42%  
VIX 
24.15  25.51  100.00%  
Bitcoin (USD) 
27.994.24  520.14  1.89%  
Ethereum (USD) 
1.752.54  5.63  0.32%  
  • Home
  • News
    How much will the fight with Kanye West cost Adidas?

    How much will the fight with Kanye West cost Adidas?

    TD Cowen: SVB’s fall does not threaten the stability of the banking system

    TD Cowen: SVB’s fall does not threaten the stability of the banking system

    Public investment in Ireland will be only for sustainable businesses

    Public investment in Ireland will be only for sustainable businesses

    Jerome Powell warns Fed could raise rates further

    Jerome Powell warns Fed could raise rates further

    JPMorgan: “zero-day” options contracts would sink SPX

    JPMorgan: “zero-day” options contracts would sink SPX

    Used cars prices rise unusually in the U.S

    Used cars prices rise unusually in the U.S

    Chinese mobile manufacturers want to go after Apple and Samsung

    Chinese mobile manufacturers want to go after Apple and Samsung

    ACS to build a battery plant for Panasonic in the U.S

    ACS to build a battery plant for Panasonic in the U.S

    Carvana could be on the verge of bankruptcy

    Carvana could be on the verge of bankruptcy

  • Markets
    Pontegadea continues to buy real estate: now the target is London

    Pontegadea continues to buy real estate: now the target is London

    BMW adds to profits thanks to Rolls Royce and Mini

    BMW adds to profits thanks to Rolls Royce and Mini

    Puma achieves record sales in last year with Gulden as CEO

    Puma achieves record sales in last year with Gulden as CEO

    Nike and Decathlon lead as the world’s largest sports retailers

    Nike and Decathlon lead as the world’s largest sports retailers

    Walmart unstoppable: sells U$S 611 billion in 2022

    Walmart unstoppable: sells U$S 611 billion in 2022

    Experts: recession to come at the end of rate hike cycle

    Experts: recession to come at the end of rate hike cycle

    Is it time to bet on tech stocks again?

    Is it time to bet on tech stocks again?

    Is it better to invest in Stellantis or in Ford and GM?

    Is it better to invest in Stellantis or in Ford and GM?

    U.S. housing market could continue to decline

    U.S. housing market could continue to decline

  • Investing
    Hedging hurts more than stock market declines, study says

    Hedging hurts more than stock market declines, study says

    How to manage risk in times of stock market volatility

    How to manage risk in times of stock market volatility

    Gold investment price

    Why a physical gold IRA is becoming a hot investing topic

    Home Depot announces dividend increase

    Home Depot announces dividend increase

    The fall in Alibaba’s earnings softens

    The fall in Alibaba’s earnings softens

    Is it better to invest in Stellantis or in Ford and GM?

    Is it better to invest in Stellantis or in Ford and GM?

    The biggest investment mistakes made by Warren Buffett

    The biggest investment mistakes made by Warren Buffett

    Which stocks are attractive for investing in IoT and robotics

    Which stocks are attractive for investing in IoT and robotics

    Mixed results for Uber Technologies in 2022

    Mixed results for Uber Technologies in 2022

  • Technology
    Why Americans want to remove Instagram from their phones

    Why Americans want to remove Instagram from their phones

    Tesla prepares a Model Y update: what we know about “Juniper”

    Tesla prepares a Model Y update: what we know about “Juniper”

    Li-Cycle to recycle lithium batteries in Rochester

    Li-Cycle to recycle lithium batteries in Rochester

    Is it time to bet on tech stocks again?

    Is it time to bet on tech stocks again?

    Amazon goes all-in on live sports streaming

    Amazon goes all-in on live sports streaming

    Bing’s AI has “lost its mind”

    Bing’s AI has “lost its mind”

    ChatGPT’s Chinese competitor to be launched in March

    ChatGPT’s Chinese competitor to be launched in March

    Alphabet board confesses doubts about Bard

    Alphabet board confesses doubts about Bard

    Advantages and disadvantages of AI, according to Bill Gates

    Advantages and disadvantages of AI, according to Bill Gates

  • CryptocurrenciesTRENDING
    Circle’s exposure to SVB is $3.3 billion

    Circle’s exposure to SVB is $3.3 billion

    Crypto crisis drives Silvergate into bankruptcy

    Crypto crisis drives Silvergate into bankruptcy

    Censorship resistance: what is it and why is it so important in the crypto industry?

    Censorship resistance: what is it and why is it so important in the crypto industry?

    Forbes claims Binance is in trouble, Zhao denies it

    Forbes claims Binance is in trouble, Zhao denies it

    SEC reportedly preparing a battle against stablecoins

    SEC reportedly preparing a battle against stablecoins

    U.S. regulatory pressure on cryptomarket increases

    U.S. regulatory pressure on cryptomarket increases

    What is Crypto Staking and why is the SEC regulating these services?

    What is Crypto Staking and why is the SEC regulating these services?

    Shanghai: a glimpse of Ethereum’s next update

    Shanghai: a glimpse of Ethereum’s next update

    Manchester City token collapses for this reason

    Manchester City token collapses for this reason

INVESTOR TIMES
Home Cryptocurrencies

Bitcoin falls to a 2-year low and cryptomarket loses $1.4 billion

After the collapse of FTX.com the cryptocurrency market continues to lose value this year.

Santiago Contreras by Santiago Contreras
11/23/2022 - 6:24
in Cryptocurrencies, News
Reading Time: 2 mins read
Share on FacebookShare on TwitterShare on LinkedIn

Bitcoin (BTC) fell to a two-year low on Monday afternoon (GMT-4) amid the severe crisis suffered by the cryptocurrency market. The world’s leading cryptocurrency plunged to $15,480, but hours later was able to recover part of its price

This is the lowest level reached by BTC since November 11, 2020, according to data from CoinDesk. Since that moment, the digital currency managed to climb towards its all-time high of 68,000 USD, reached in November 2021.

In the last 24 hours the cryptocurrency has been fluctuating from that low and on Tuesday at 11:26 am it was trading at approximately 16,206.13.

Investor confidence has collapsed

The collapse of FTX, the cryptocurrency exchange owned by former U.S. billionaire Sam Bankman-Fried, and repeated scandals involving corporate management of digital assets, have undermined investor confidence.

The cryptocurrency sector has been under gigantic pressure this year due to external and internal factors. On the one hand, the U.S. Federal Reserve’s change in monetary policy to try to control inflation hit high-risk assets.

Then, the collapse of crypto projects such as Terra USD and the collapse of companies in the sector due to insolvency and cash crunches caused a stampede of investors who rushed to sell their holdings collapsing the price of cryptoassets.

FTX adds to crypto market crisis

So far this year, $1.4 trillion has evaporated from the cryptocurrency market. Now the liquidity crisis caused by FTX, has exacerbated the problems that had already been dragging the industry down.

Such problems in the digital assets industry seem to have no end. In fact, global regulators and many investors are beginning to express their concerns about the viability of the sector.

FTX’s troubles began when Binance CEO Changpeng Zhao announced the sale of his holdings of FTT, FTX’s native token. In less than 72 hours what had been considered a model of a thriving crypto industry company valued at $32 billion, fell into bankruptcy.

The collapse came after the stampede caused by revelations about the company’s balance sheet and Zhao’s resignation to help the troubled exchange financially. Instead, he contributed to its collapse.

Hacker money laundering sinks the price of Ether

And to finish off the company’s plight, a group of hackers stole about $477 million in cryptocurrencies from FTX. Most of the funds were converted into Ethereum tokens.

Then the hackers have been trying to launder the stolen money and are converting it into bitcoin. The massive sale of these funds in Ether has caused severe pressure on the cryptocurrency causing its price to collapse. Ether was trading late Tuesday morning at 1,125.13 with a loss of 0.74% on the day.

In general, the prices of all digital assets are following a downward trend. Large institutional investors have not only lost their confidence in cryptocurrencies. But they also fear that the fall of FTX will cause a contagion throughout the industry and cause a domino effect.

Since TerraUSD collapsed shocking the entire global crypto community and caused the collapse of major firms like hedge fund Three Arrows Capital, the crisis has only deepened.

Who’s next?

Now it is feared that also cryptocurrency trading platform Genesis Global Trading will file for bankruptcy due to the cash problems it is facing. Binance which recently announced a bailout fund for troubled companies has refused to come to the aid of Genesis.

Company officials told investors that the risk of filing for bankruptcy is present if they can raise the $1 billion they need to avoid bankruptcy. Although the company made it clear that it would not file for bankruptcy immediately.

Last week the crypto lender decided to temporarily suspend withdrawals and the issuance of cryptocurrency loans, claiming it is facing “abnormal withdrawal requests” following the collapse of FTX.

Financial data from the company indicates that at the end of the third quarter of the year, the company had around $2.8 billion in total active loans.

The truth is that the year is not over yet and more negative news related to the cryptocurrency industry is expected. The process of purification and selection, not necessarily natural, which is generating the crypto winter, continues its relentless course.

Tags: Bitcoin (BTC)cryptocurrenciesCryptomarketEthereumFTX

Related articles

How much will the fight with Kanye West cost Adidas?
News

How much will the fight with Kanye West cost Adidas?

by Pablo Petovel
— March 16, 2023
TD Cowen: SVB’s fall does not threaten the stability of the banking system
News

TD Cowen: SVB’s fall does not threaten the stability of the banking system

by Alejandro Gil
— March 15, 2023
Circle’s exposure to SVB is $3.3 billion
Cryptocurrencies

Circle’s exposure to SVB is $3.3 billion

by Alejandro Gil
— March 14, 2023
Crypto crisis drives Silvergate into bankruptcy
Cryptocurrencies

Crypto crisis drives Silvergate into bankruptcy

by Pablo Petovel
— March 13, 2023
Public investment in Ireland will be only for sustainable businesses
News

Public investment in Ireland will be only for sustainable businesses

by Pablo Petovel
— March 13, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Last published articles

How much will the fight with Kanye West cost Adidas?
News

How much will the fight with Kanye West cost Adidas?

by Pablo Petovel
— March 16, 2023
Pontegadea continues to buy real estate: now the target is London

Pontegadea continues to buy real estate: now the target is London

by Pablo Petovel
  March 16, 2023

BMW adds to profits thanks to Rolls Royce and Mini

BMW adds to profits thanks to Rolls Royce and Mini

by Pablo Petovel
  March 15, 2023

TD Cowen: SVB’s fall does not threaten the stability of the banking system

TD Cowen: SVB’s fall does not threaten the stability of the banking system

by Alejandro Gil
  March 15, 2023

Hedging hurts more than stock market declines, study says

Hedging hurts more than stock market declines, study says

by Alejandro Gil
  March 15, 2023

Facebook Twitter LinkedIn Telegram RSS

ABOUT INVESTOR TIMES

INVESTOR TIMES is an independent publication of economic, finance and investment content, owned and operated by Altas Ventures.

MORE ABOUT US

  • Our team
  • Work with us
  • Advertise on IT
  • Contact
  • Corporate information
  • Terms of Use
  • Cookies Policy
  • Privacy Policy

INTERNATIONAL EDITIONS

Investor Times in English

Investor Times en Français

Investor Times in Deutsch

Investor Times in Italiano

Investor Times em Português

Investor Times po Polsku

Investor Times на русском языке

El País Financiero (edición en Español)

© ATLAS VENTURES SLU, all rights reserved. Any information contained in INVESTOR TIMES is for educational and/or informational purposes only, it is not financial and/or investment advice. INVESTOR TIMES may obtain economic retribution by recommending services or products of third parties. INVESTOR TIMES does not accept, nor will it accept in the future, subsidies or funds from Governments, political parties or public institutions.

No Result
View All Result
  • Home
  • News
  • Markets
  • Investing
  • Cryptocurrencies
  • Technology

  •  EXCLUSIVE  3 Russian men are the real perpetrators behind Juicy Fields, says Glanse

     NEW  Compound Interest Calculator

     TRENDING 
    Investing in Bitcoin Investing in the Metaverse 5 reasons to invest in Amazon

© ATLAS VENTURES, all rights reserved.