The cryptocurrency bulls are continuing to extend one of the unexpected highs this year, pushing bitcoin over $21,000 for a second consecutive day. This means that the digital currency has now recouped all its losses since November’s spectacular crash of FTX.
Most of the cipherboats were lifted by the rising tide. DealBook newsletter reports. Even some tokens — including FTT, the in-house token of the bankrupt FTX exchange — have rebounded as investors bet the Federal Reserve will slow the pace of interest rate increases, leading to a broad rally in risky assets. Coinbase shares are traded on Coinbase, a publicly traded cryptocurrency exchange. layoffs and cut costs, bought on the New York open markets; It has increased by over 30 percent in the past week.
But cryptanalysts DividedWhether the rise is sustainable. Skeptics argue that investors should not be relying on the latest jump to sustain a long-term rally.
Lawyers at law firm Sullivan & Cromwell witness the rise of cryptocurrency. FTX billion dollar bankruptcyThe company’s assets were valued at $5.5 billion, which includes $1.7 billion in cash and $3.5 million in crypto assets. This makes the wider rally crucial for FTX creditors – if they continue.
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