bitcoin
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BlockFi Files for Bankruptcy Months After Accepting Helping Hand From FTX
Crypto lender BlockFi was once eager to hand practically anybody a sack of money containing gold-plated crypto coins, without even a bare credit check. Now they themselves would like some investor to lay out some cash without asking too many questions, especially not about their obvious connections and contagion from the fallout of FTX.
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Bank of America Downgrades Coinbase Amid FTX Train Wreck, Citing ‘Contagion Risk’
Things continue to look bad for the blockchain. Bank of America (BofA) analysts have downgraded Coinbase’s stock, citing the “fallout from the FTX collapse.” The bank moved Coinbase shares to “neutral” from “buy,” in a Friday note to the bank’s investment clients, according to multiple financial outlets. BofA also shifted the stock’s projected target value…
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Crypto Platform AAX Halts Withdrawals But Denies It Had Exposure to FTX
Hong Kong-based crypto trading platform AAX halted withdrawals on Sunday and claims it will try to resume trades in 7-10 days, according to a press release from the company. But we’ve certainly heard that one before in crypto land.
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U.S. DOJ and SEC Investigating FTX Collapse as Entire Crypto Market Plunges
The Department of Justice and Securities and Exchange Commission are investigating FTX, a crypto platform that halted withdrawals on Tuesday, according to a new report from the Wall Street Journal. And while the SEC’s investigation has reportedly been going “for months,” the agency’s scrutiny has only expanded this week following the liquidity crisis at FTX,…