Three Arrows Capital. Celsius. Voyager Digital. The list of crypto bankruptcies, shutdowns and trading freezes has been endless in 2022. And the year isn’t over yet. This week, German crypto bank Nuri urged its users to withdraw funds ahead of the company’s planned shutdown in December — at least Nuri’s users were given proper notice.
The crypto bear has been relentlessly cleansing the market of excess, leverage, poor risk management and outright scams. If industry prognosticators are to be taken seriously, the market could seeThis week’s Crypto Biz chronicles Nuri’s shutdown, the latest drama surrounding Voyager Digital and Silvergate Capital’s difficult quarter.After disclosing liquidity issues in August,this week that it would cease operations on Dec. 18.
It's not a bear market. Just binance making manipulation on prices to liquidate users!