News Formal

9 Companies That Hoarded Customers’ Money as Crypto Crashed

  • 📰 Gizmodo
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

With cryptocurrency prices collapsing, a handful of companies found themselves pulling a move pulled from the playbook of a 1920s bank: freezing withdrawals.

Though cryptocurrency prices haveinvestors truly had the rug pulled out from under them in the past two months. With bitcoin prices in particular

to values not seen since 2020, exchanges and lenders were forced to do something few expected. One after another, firms halted orwithdrawals, leaving investors uncertain whether they would ever see their real life money again.offered notes of optimism without tangible promises.

“There are companies that are basically too far gone and it’s not practical to backstop them,” Bankman-Fried said. Here are a handful of the crypto and exchanges and investment firms who’ve already had to reckon with withdrawing freezes.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 556. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of America's Active Crypto Users Drop More Than 50% in Bear Market – Featured Bitcoin NewsBank of America has revealed that the number of its customers who are active crypto users has declined more than 50% since its peak in November last year. BOA cryptocurrency bitcoin $BTC Expeted It is better than constantly following the market and trading Luna already finished everything
Source: BTCTN - 🏆 531. / 51 Read more »