Exit all crypto markets? One trader says to pull the lever as the markets continue to react.
The pair showed acclimatization to events around the FTX insolvency, the latest including revelations that Alameda Research had been immune from liquidation while trading on the platform.
After the departure of Sam Bankman-Fried, new CEO John Ray III wasted no time in acknowledging the extent of the problems left in his wake.Ray describes the corporate control of FTX“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
, United States lawmakers intend to hold a dedicated hearing on FTX next month, while Bankman-Fried is reportedly subject to efforts to extradite him from the Bahamas.of contagion impacting the crypto lending arm of Genesis Trading on Nov. 16.“Bulls really need to reclaim $17,600 for us to be able to shift nicely in a long position,” Crypto TonyIl Capo of Crypto, repeating a warning that altcoins could see further losses of up to 50%, was even franker in his message to followers.on Nov.
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