Bankrupt Crypto Exchange FTX Proposes Returning Up to 90% of Customer Funds
The post Bankrupt Crypto Exchange FTX Proposes Returning Up to 90% of Customer Funds appeared on BitcoinEthereumNews.com. Binance has long been the world’s largest cryptocurrency exchange by trading volume. Still, on Monday, traders looking to buy and sell bitcoin (BTC) quickly on Binance were at a relative disadvantage to their peers on Kraken and Coinbase (COIN), according to data tracked by Paris-based Kaiko. The 0.1% ask depth on Binance, a measure of buy-side liquidity, crashed to just 1.2 BTC ($30,000) from 100 BTC as volatility exploded after an erroneous report that BlackRock’s (BLK) spot exchange-traded fund (ETF) had been approved circulated on social media. The leading cryptocurrency popped 7.5% to $30,000 in a knee-jerk reaction to the rumor, only to give up gains after BlackRock denied the report. Source: https://www.coindesk.com/markets/2023/10/17/first-mover-americas-ftx-proposes-returning-up-to-90-of-customer-funds/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
The post Bankrupt Crypto Exchange FTX Proposes Returning Up to 90% of Customer Funds appeared on BitcoinEthereumNews.com.
Binance has long been the world’s largest cryptocurrency exchange by trading volume. Still, on Monday, traders looking to buy and sell bitcoin (BTC) quickly on Binance were at a relative disadvantage to their peers on Kraken and Coinbase (COIN), according to data tracked by Paris-based Kaiko. The 0.1% ask depth on Binance, a measure of buy-side liquidity, crashed to just 1.2 BTC ($30,000) from 100 BTC as volatility exploded after an erroneous report that BlackRock’s (BLK) spot exchange-traded fund (ETF) had been approved circulated on social media. The leading cryptocurrency popped 7.5% to $30,000 in a knee-jerk reaction to the rumor, only to give up gains after BlackRock denied the report. Source: https://www.coindesk.com/markets/2023/10/17/first-mover-americas-ftx-proposes-returning-up-to-90-of-customer-funds/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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