Market Wrap: Crypto Markets Nervous as the FTX Collapse Dents Institutional Confidence

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Bonds issued by Coinbase and MicroStrategy tanked, the FTX exploiter moved a total of 180,000 $ETH and the crypto market plunged amid continued market uncertainty, _jocelynyang_ reports

15% in value this month to 50 U.S. cents on the dollar, according to data source Finra-Morningstar, sending the yield – which moves in the opposite direction to price – to a record high of 13.5%.: On Friday, the yield on the company's 2028 notes, issued last year to finance bitcoin accumulation, climbed to 13.35% as the price dropped to a record 72.5 cents on the dollar.of around 1,000 basis points – or 10 percentage points – to the U.S. 10-year Treasury note yield, as of Friday.

According to Rich Rosenblum, co-founder of crypto trading firm and liquidity provider GSR noted that while bonds are a safer route, the upside is also"far more muted.", nearing a two-year low, amid a gloomy market climate following the FTX collapse. The largest cryptocurrency by market capitalization was trading as low as $15,591, close to the 52-week low of $15,554. Bitcoin had settled back to around $15,800 as of press time, down roughly 5% in the past 24 hours.

 

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_jocelynyang_ SBF_FTX, you did it?

_jocelynyang_ It is a very fragile system Hacker manipulating the market. That does not sounds good.

_jocelynyang_ No word about coinbase insolvency? They are looking for new investors

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Bitcoin drops to 1-week low, ether slides 7% as FTX collapse ripples through crypto marketThe cryptocurrency market has come under pressure over the last two weeks as problems at major exchange FTX came to light. Ripple Have fun with the Crypto boys..lol
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