This is not the first crypto winter, but it is the most significant. Crypto’s explosion into mainstream culture means that more investors, institutions and exchanges are impacted than ever before. There are over 300 crypto exchanges in operation, majority of which face major losses. Some CEO’s, like Coinbase’s Brian Armstrong, characterize the downturn as a “black swan” event, while others quietly prepared for the big freeze. Binance, Ripple and Kraken are actively hiring and FTX CEO Sam Bankman-Fried has bailed out exchanges hemorrhaging capital. The crypto billionaire warns some third-tier exchanges are already secretly insolvent. Here are the most significant crypto exchange losses so far that we know of to date.
In this edition we explore Blockchain Capital’s $580 million, USDC on Polkadot, Coinbase in Spain, a new privacy partnership and Sui’s Web3 gaming development.
Keep up with the top crypto headlines in our weekly recap Hello Investors ☕ In this edition we explore CBDC testing, an AI-powered jury, Vitalik’s X account hack, a Bitcoin only trust company, Telegram’s new wallet and more. 📧Have you signed up for our members-only newsletter? With N+1
Keep up with the top crypto headlines in our weekly recap Hello Investors, In this edition we explore the CFTC fines, Ripple’s acquisition of Fortress Trust, an AI powered order type, an environmentally-friendly blockchain and more! 📧Have you signed up for our members-only newsletter yet? With N+1 Action,