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BitcoinBTC, Ethereum and other major cryptocurrencies crashed this week despite a huge bitcoin price prediction of $600 billion in 2023.
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The price of bitcoin fell below $17,000 per bitcoin as panic suddenly hit Binance, the world’s largest bitcoin, ethereum and crypto exchange by volume, and the Federal Reserve signaled that it would continue to raise interest rates.
Now, after leaks revealed that crypto’s most powerful CEOs are preparing for a $65 billion earthquake, Binance CEO Changpeng “CZ” Zhao has warned that “the winter of crypto” is not over yet after the FTX collapse wiped billions from the bitcoin, Ethereum, and crypto market.
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MORE FROM FORBESMove Your Funds ‘Immediately’ – Serious $2.2 Billion Crypto Warning Issued After Bitcoin and Ethereum Rival’s Sudden Price CrashBy Billy Bambrough
Binance CEO Changpeng “CZ” Zhao has warned that the “crypto winter” is not over after FTX… [+] the crash sent the price of bitcoin, ethereum, and other cryptocurrencies plummeting.
AFP via Getty Images
“While we expect the next few months to be bumpy, we will get through this tough time and be much stronger for getting through it,” CZ wrote in a memo to Binance staff seen by Bloomberg, adding that the bitcoin and crypto are going through “a historic moment” but Binance “will survive any crypto winter.”
CZ’s warning comes amid a tough week for Binance that has seen users withdraw billions of dollars from the exchange amid fears that FTX could follow bankruptcy.
The collapse of FTX’s shock has sent shockwaves through the bitcoin, ethereum and crypto market as crypto companies scramble to reassure users that their funds are safe.
This week, accounting firm Mazars published and then deleted an assessment of proof of Binance’s reserves before announcing a suspension of work with crypto companies.
“This is due to concerns about how these reports are understood by the public,” Mazars said in a statement to Coindesk.
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MORE FROM FORBESBitcoin Price Prediction of $600 Billion in 2023 Comes with Ethereum Upgrade Bet and Shock Ripple XRP WarningBy Billy Bambrough
The price of bitcoin has crashed about 70% since the end of last year, wiping out about $2 trillion in value… [+] of the crypto market.
Forbes Digital Assets
Binance’s BNBBNB, a competitor to Ethereum and an exchange token designed to facilitate transactions on the platform, has crashed nearly 20% over the past week as panic sweeps across the market. cryptography.
“The current environment of mistrust towards Binance is only natural, and increasing the volume of exits from the exchange is a rational precaution on the part of its users,” said bitcoin analyst Josef Ttek at Trezor, a company that sells self-custody crypto wallets, in an email. comments.
“Exchanges that conduct their business honestly need not worry and should be able to accommodate all withdrawal requests. In this regard, Binance appears to be managing its liquidity well after withdrawing $5 billion worth of crypto from a period of 24 hours.”
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Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMiqgFodHRwczovL3d3dy5mb3JiZXMuY29tL3NpdGVzL2JpbGx5YmFtYnJvdWdoLzIwMjIvMTIvMTcvaGlzdG9yaWMtbW9tZW50LWxlYWstcmV2ZWFscy1iaW5hbmNlLWNlby1zaG9jay1wcmVkaWN0aW9uLWFmdGVyLWZ0eC1jb2xsYXBzZS10YW5rZWQtdGhlLWJpdGNvaW4tYW5kLWV0aGVyZXVtLXByaWNlL9IBrgFodHRwczovL3d3dy5mb3JiZXMuY29tL3NpdGVzL2JpbGx5YmFtYnJvdWdoLzIwMjIvMTIvMTcvaGlzdG9yaWMtbW9tZW50LWxlYWstcmV2ZWFscy1iaW5hbmNlLWNlby1zaG9jay1wcmVkaWN0aW9uLWFmdGVyLWZ0eC1jb2xsYXBzZS10YW5rZWQtdGhlLWJpdGNvaW4tYW5kLWV0aGVyZXVtLXByaWNlL2FtcC8?oc=5 The mention sources can contact us to remove/changing this article |
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