HONG KONG — The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained.
Crypto hedge fund Three Arrows Capital is exploring its options, including the sale of assets and a bailout by another firm, its founders told the Wall Street Journal in a story published Friday, the same day Asia-focussed crypto lender Babel Finance said it would suspend withdrawals "If the market goes higher, everyone breathes a sigh of relief, things will get refinanced, people will raise equity, and all of the risk will dissipate. But if we move much lower from here, I think it could be a total shitstorm," said Adam Farthing, chief risk office for Japan at crypto liquidity provider B2C2.
The bitcoin price has tended to move in a roughly similar manner to other risk assets such as tech stocks.
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Crypto industry gripped by anxiety as bitcoin wobbles near key $20,000 levelHONG KONG : The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained.Bitcoin which has lost 57 per cent so far this year and 37 per cent this month, fell below $20,000 over the weekend for after this news will come any moment will follow the stock markets on wall street where it will plummet
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »
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Crypto industry gripped by anxiety as bitcoin wobbles near key $20,000 levelHONG KONG : The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained.Bitcoin which has lost 57 per cent so far this year and 37 per cent this month, fell below $20,000 over the weekend for after this news will come any moment will follow the stock markets on wall street where it will plummet
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »