While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.
Bitcoin and Ether strengthened in Friday afternoon trading in Asia, reversing some of Wednesday’s and Thursday’s sharp losses. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also increased.
The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.
US regulators want to know more about what Binance discovered when it took a look at FTX’s books, and then canceled a bailout deal.
The state of California has launched an investigation into the ‘apparent failure’ of crypto asset platform FTX.
Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.
FTX Japan was ordered by the country’s Financial Services Agency (FSA) to suspend operations until Dec. 9 and put together a “business improvement plan.”
There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.
Bitcoin gained 5% after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in October from September. CPI was up 7.7% from a year earlier, less than the expected 7.9%, and down from 8.2% in September. October’s CPI recorded the smallest 12-month increase since January.
Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.