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FTX Drama and Bitcoin Drop to $ 13,000: Crypto News by Investing.com

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Investing.com – Cryptocurrency exchanges have begun to restrict the transfer of funds to FTX, and analysts have predicted a drop to $ 13,000 – this and other important news in the cryptocurrency market in our review.

Cryptocurrency exchanges have begun to suspend asset transfers to the Sam Bankman-Freed platform. South Korean Upbit platform published A.D which will limit the withdrawal of virtual assets on FTX as part of investor protection measures. At the same time, Upbit has warned users that due to the internal circumstances of the FTX exchange, the withdrawal of funds from it is currently suspended. Therefore, if assets are transferred to this site, they could be lost, the report says.

UDST stablecoin issuer Tether freezes $ 46 million on FTX wallet in shape CoinDesk. According to the top manager of the exchange, whose name was not disclosed, the police would have asked for the freezing of the assets.

FTX CEO Sam Bankman-Fried has transferred at least $ 4 billion of FTX funds, which includes client funds, to Alameda Research to support them after losses from a series of deals. informed Reuters, citing sources familiar with the exchange’s operations. Alameda Research is owned by Bankman-Fried.

The price of bitcoin could drop to $ 13,000 due to a period of turmoil the cryptocurrency market will face in the coming weeks, analysts at JPMorgan Chase & Co. say. in shape Bloomberg. According to the bank’s specialists, the problems in the sector will be directly related to the reduction in the proportion of funds borrowed following the FTX crisis.

Binance Cryptocurrency Exchange published addresses of their hot and cold portfolios to confirm the availability of reserves. Specifically, the company indicated it holds 475,000 ($ 8.265 billion at the current rate), 4.8 million ($ 5.76 billion) and 17.6 billion USDT.

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Text prepared by Timur Aliev

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