The Zipmex rescue deal was threatened after the investor backtracked on its earlier promise to repay creditors fully.
Amid plans to rescue embattled crypto exchange Zipmex from insolvency, the investor has reportedly reneged on its promised 100% payment. According to reports, Zipmex’s rescue investor now seeks to pay only 10 to 20 cents centscommitmentCreditorDollarInvestorOfferingPayoffRenegesRescueZipmex Read More
Some $4 million in USDC futures were liquidated in the past 24 hours, Coinglass data shows.
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Binance USD (BUSD), the third-largest stablecoin by market cap, spiked to a low of $0.20 against the DAI stablecoin as liquidity dried up on Binance.
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As per reports, public bankruptcy markets are currently valuing distressed FTX assets at around $0.16 on the dollar.
In an interesting development, the FTX bankruptcy claims are up for sale in private over-the-counter (OTC) markets. Sources familiar with the matter said that distressed fund assets can pick up these claims.
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Distressed asset funds can pick up FTX bankruptcy claims for around 20 cents on the dollar in hidden over-the-counter (OTC) markets, a person familiar with the matter told CryptoX.
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Claims trading platform Xclaim says it has doubled its pool of claims buyers due to interest in FTX.
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The FTX crisis has escalated into a legal battle between bankrupt crypto exchanges and firms whose assets are stuck on its platform. Before FTX froze assets withdrawal, many crypto firms couldn’t recover their funds from the exchange. As a result, many firms have announced a potential financial crisis if their centsClaimsDepositDollarFirmFTXOffersUser Read More
By comparison, Earn account holders of bankrupt crypto lender Celsius Network may receive around 20 cents on a dollar after selling their claims, while creditors of Voyager Digital, the crypto brokerage platform that was auctioned off to FTX, may recover 40 cents on a dollar for their claims.
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Bitcoin (BTC) fell out of its long-term trading range on May 12 as ongoing sell pressure reduced markets to 2020 levels.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTether wobbles as UST stays under $0.60Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it exited the range in which it had traded 27KBitcoincentscryptoexchangeDecemberExchangesFallsLowsPegSlipsStablecoinTether Read More
TerraUSD fell below $0.90 late Tuesday after 12 hours of relatively stable price action.
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