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Crypto firms rush to allay Genesis contagion fears as stocks crater

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Several crypto stocks traded down throughout the day on Wednesday, while crypto bank Silvergate bucked the trend.

The terminated sponsorship deal with esports giant TSM represents yet another fractured partnership for the fallen crypto exchange.Senate Banking Committee eyes hearing on Sam Bankman-Fried's FTX collapse

A key Senate committee could hold a hearing to investigate the collapse of crypto exchange FTX. The Senate Banking Committee is “working to schedule a hearing and details are forthcoming,” according to a Democratic committee spokesperson. FTX, once valued at $32 billion, filed for bankruptcy protection last week. The push to schedule a Senate hearing […]

 

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Crypto Lender Genesis Suspends Withdrawals: FTX Collapse Created 'Unprecedented Market Turmoil'The crypto firm with some $3 billion in loan volume is the latest to suspend customer withdrawals. Kid was very smart and scammed many people out of millions of dollars that they'll never recover FTX is was just a catalyst or window into the cryptocurrency ponzi scheme and many are going to suffer yugely.
Source: Forbes - 🏆 394. / 53 Read more »