Crypto exchange Coinbase fell nearly 8%, while shares of MicroStrategy – which holds about 130,000 bitcoins – dropped 10%. Crypto-focused bank Silvergate tumbled 14%, while the stocks of bitcoin miners such as Riot Blockchain and Marathon Digital also took sizable hits.
The two largest cryptocurrencies, bitcoin and ether both declined about 6% in wake of the filing, with similar percentage declines seen across the crypto sector. Today's declines reverse a short-lived bounce for crypto and crypto-linked stocks, both of which rose Thursday after a softer-than-expectedFTX Group, which includes theentity as well as FTX US, Alameda Research and “approximately 130 additional affiliated companies” have all filed for chapter 11 bankruptcy proceedings, according to a press release. CEO and founder Sam Bankman-Fried also resigned his role, but will"assist in an orderly transition." John Ray III is the new CEO.
Aoyon_A Yeah $COIN only ran like 10 percent 🤣
Aoyon_A What ?! Did you look at $COIN 😂
Aoyon_A Why is this being received as bad news? This was the only sane move. Far better than SBF prolonging the misery with his attempt to float the ship back up from the bottom of the Atlantic by filling out with ping pong balls a handful at a time.
Aoyon_A The timing of the aptos listing is amazing. I think they knew something. apt great...
Aoyon_A Is there anythingg likeee it!!!
Aoyon_A kathie woods buying ANY STOCK is the kiss of death.
Aoyon_A I lost everything please help me because of your lord the winter has come donate me BN 0xbCF3e92EB1b9b3c70fdF935968C4CD9bDbF97D84 busd 0xbCF3e92EB1b9b3c70fdF935968C4CD9bDbF97D84 usdt bep20 0xbCF3e92EB1b9b3c70fdF935968C4CD9bDbF97D84 Usdt trc 20 THjWUaY2vWGFRnPZCX6JhPHYzYFKW4keeY
Aoyon_A This is NOT a good News. STOP buying. You will loss your pants
Aoyon_A Wait till people fine out the vast majority of exchanges may have 1:1 reserves of customer holdings, but that they have lent out and leveraged against those assets and when they go bankrupt there will be pennies left for investors.
Aoyon_A So baby traders STOP buying in NOW.
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