Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
Thodex, once among Turkey's leading cryptocurrency exchanges, abruptly ceased operations in April 2021, coinciding with the disappearance of its founder, Özer.
Sen. Bill Hagerty, a member of the Senate Banking Committee from the Republican party, advocates for a more comprehensive examination of the relationship between the securities regulator and the digital assets sector.
Turns out, he was wrong. Average young investors like Jensen went all in on crypto in the hopes of quickly making bank, cashing out and buying a home, car or business — or even retire. It all came crashing down in this month’s crypto-market bloodbath — losing nearly $2 trillion in value — with some investors losing everything.
Pressure on cryptocurrencies continues, as crypto exchange Binance says it will walk away from its deal to acquire rival FTX and amid lingering concerns over contagion in the loosely regulated industry. In recent market action: Bitcoin shed 12% of its value from its late-afternoon level Tuesday to trade at about $16,123 apiece.
On Wednesday, cryptocurrencies continued to slump as investor anxiety about the FTX bailout spread. Bitcoin and ether, the two most popular tokens, both hit their lowest level in two years.
While almost all crypto holders have suffered wealth declines, some of the biggest and most visible losses are concentrated among founders of exchanges, where traders buy and sell digital currencies. Enjoying Bloomberg Wealth?
This week's crypto team A: Caitlin Long (Custodia Bank), Mike Alfred (Iris Energy), and David Duong (Coinbase). Caitlin Long: ...
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