Genesis suspenses the conclusion; GBTC has decreased
US shares have decreased – the rally weakened after the publication of data on retail sales. The mood of investors deteriorated, since the Federal Security Service https://gagarin.news/news/coinbase-reports-a-major-loss/ representative said that the organization should not take into account the risks of financial stability. Asian actions remain under pressure – a decrease in shares of China technological companies continued.
The cryptocurrency market is restored as the situation with ftx is slowly resolved. At the time of writing this text, BTC protects the level of $ 16,500, despite the decrease by 1.5% over the past 24 hours. ETH fell by 2.8% for the same period of time and unreliable ranges above $ 1200. Altcoins with medium and large capitalization mainly fall. Algo and Matic decreased most of all, which surrendered strengthened positions and fell by more than 5% in the same period of time. Due to FTX, distrust arose on the market, which has improved the Trust Wallet position. Native token of this wallet – TWT – grew by 19.8% against the background of a total market fall.
Despite the fact that the traditional financial media is widely covered by FTX collapse, the shares mainly remain calm, with the exception of those associated with cryptocurrencies. Coinbase, Block, Silvergate, Microstrategy and other similar players suffered losses after FTX announced bankruptcy and regularly closed below the main benchmarks.
The whole city is buzzing about this
FTX collapse continues to affect the crypto industry. One of the largest cryptocurrency creditors, including Blockfi, which reports preparations for a bankruptcy statement, suffered. Another of the recent victims is Genesis Global Capital. The company is fighting with the problems of fees and suspended the withdrawal and acceptance of new applications for loans, since the output requests exceeded current liquidity. Soon after, the Gemini Trust cryptocurrency exchange suspended the closure of products with profitability for retail investors, and then stopped working due to a failure on the server. At the same time, Grayscale assures investors what works as before, despite the problems with the nursing company. However, on Wednesday, the flagship product Grayscale GBTC fell by 39.27%.