Crypto Is Flowing Out of Exchanges: ‘Severe’ Outflows From Gemini, OKX and Crypto.com, Says JP Morgan
Investors are pulling funds out of major crypto exchanges as a result of the collapse of FTX, JPMorgan analysts have said.
Investors and other interested crypto parties had a landscape of industry devastation to survey on Thursday – FTX related and otherwise.
Crypto venture firm Multicoin Capital told investors in a letter on Thursday that FTX’s collapse and the price declines across the industry has pushed the fund down by 55% this month
HONG KONG, Nov 18 (Reuters) – A leading cryptocurrency retail service provider in Hong Kong said it has ceased trading as the broader fallout from the collapse of FTX, and solvency issues at other major crypto firms, continues to roil the sector.
New York CNN Business — The spectacular implosion of cryptocurrency exchange FTX, a so-called unicorn startup that was recently valued at $32 billion, is just the latest bit of bad news for investors in bitcoin, ethereum and other digital assets. But 2022 was already an awful year for crypto before the FTX-Binance soap opera.