Prices may be in the green for the week, but Crypto Twitter remained focused on the sector’s ongoing liquidity crisis.
This week, Singaporean exchange Zipmex froze withdrawals, and Legion Strategies, a hedge fund affiliated with Anthony Scaramucci’s Skybridge Capital, halted redemptions. Meanwhile, Blockchain.com joined the ranks of Gemini, Coinbase, and OpenSea by announcing mass layoffs, and electric car manufacturer Tesla cashed out 75% of its Bitcoin for $936 million.
MicroStrategy CEO and billionaire Bitcoin bull Michael Saylor quickly pointed out the hard truths of Tesla’s sale.
If you sell 75% of your bitcoin, you will only have 25% of your #bitcoin left.
— Michael Saylor (@saylor) July 20, 2022
In the thick of bankruptcies, one firm is stacking that cash: U.S. law firm Kirkland & Ellis, previously hired by bankrupt crypto lenders Voyager and Celsius to help them restructure, was this week hired by Babel Finance. Last Sunday, Babel paused withdrawals, citing “liquidity...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...