November 22 BTCUSD BingX Chart Analysis and Today's Headline
BingX’s Bitcoin Chart
According to CoinShare, digital asset investment products saw inflows totalling US44m last week, but short investment product inflows represented 75% of the total inflows. Bitcoin is down 1.1% over the last 24 hours and fell to an intraday low of $15,461.92. The largest cryptocurrency fell below the November 9th low of $15,588 after the news of Genesis Global Trading could face potential bankruptcy came out, suggesting that the investors are extremely nervous about the potential bankruptcy. As Genesis Global Trading is considered the largest lending desk in the cryptocurrency industry, the fall of Genesis Global Trading could damage the cryptocurrency industry heavily, and the BTC/USDT pair could drop to $12,000.
Today’s Cryptocurrency Headline
Genesis Trading Warns of Possible Bankruptcy
Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital. Its financing target has been halved from US$1 billion to US$500 million. Parent company DCG is unwilling to sell part of its venture portfolio and has no plans to sell another company, Grayscale. According to previous news, Genesis Global Trading has suspended redemption and new loan issuance. DCG said that the business operations of other subsidiaries have not been affected, and DCG has injected $140 million in equity into Genesis Global Trading.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
According to CoinShare, digital asset investment products saw inflows totalling US44m last week, but short investment product inflows represented 75% of the total inflows. Bitcoin is down 1.1% over the last 24 hours and fell to an intraday low of $15,461.92. The largest cryptocurrency fell below the November 9th low of $15,588 after the news of Genesis Global Trading could face potential bankruptcy came out, suggesting that the investors are extremely nervous about the potential bankruptcy. As Genesis Global Trading is considered the largest lending desk in the cryptocurrency industry, the fall of Genesis Global Trading could damage the cryptocurrency industry heavily, and the BTC/USDT pair could drop to $12,000.
Today’s Cryptocurrency Headline
Genesis Trading Warns of Possible Bankruptcy
Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital. Its financing target has been halved from US$1 billion to US$500 million. Parent company DCG is unwilling to sell part of its venture portfolio and has no plans to sell another company, Grayscale. According to previous news, Genesis Global Trading has suspended redemption and new loan issuance. DCG said that the business operations of other subsidiaries have not been affected, and DCG has injected $140 million in equity into Genesis Global Trading.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
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