CryptossorCryptossor
  • Home
  • News
    • Global
    • Bitcoin
    • DeFi
    • Cryptocurrency
    • Economy
  • Technology
  • Contact
Facebook Twitter Instagram
Subscribe
CryptossorCryptossor
Twitter
  • Home
  • News
    1. Global
    2. Bitcoin
    3. DeFi
    4. Cryptocurrency
    5. Economy
    6. View All

    Binance Delivers The Good News For These 2 Altcoin Investors!

    Ocak 11, 2023

    They Deleted The Tweet And This Metaverse Coin Is Crashed!

    Ocak 11, 2023

    Robinhood Delists This Altcoin: Price Crashed!

    Ocak 11, 2023

    Famous Stock Exchange Delists 33 Altcoins: Here is the List!

    Ocak 11, 2023

    Bitcoin Billionaire: This Platform Could Crash! But Like FTX..

    Ocak 11, 2023

    Tomorrow is Critical Day for Bitcoin: 5 Analysts Are Waiting For These!

    Ocak 11, 2023

    2 Important Charts Say ‘Buy’ This Cryptocurrency!

    Ocak 11, 2023

    Major Cryptocurrency Exchange Announces: Terminating!

    Ocak 11, 2023

    Defrost Finance Team Calls Rug Pull Claims Slander

    Aralık 30, 2022

    Arab Bank Switzerland Presents 10 DeFi Tokens to Customers

    Ocak 7, 2022

    Celsius Network Confirms They Lost Money In BadgerDAO DeFi Attack

    Aralık 3, 2021

    SEC Chairman Gary Gensler Speaks About DeFi

    Aralık 1, 2021

    Bitcoin Price Predictions for 2023 from the Professionals

    Ocak 11, 2023

    Why Is Bitcoin Price Rising? Will the Ascension Continue?

    Ocak 11, 2023

    Iceberg Capital Launches $1 Billion Fund with Venom Foundation

    Ocak 11, 2023

    What is Flare (FLR)? Flare Token Price and Comment

    Ocak 11, 2023

    The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

    Ocak 11, 2023

    Mortgage applications increase in the USA, interest rates decrease

    Ocak 11, 2023

    The expectation for the future of the economy is getting worse: The rate of those who have negative expectations about the economy has increased from 50 percent to 71 percent.

    Ocak 11, 2023

    Economists hope lifting of China’s COVID bans will boost 2023 growth better than expected

    Ocak 11, 2023

    The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

    Ocak 11, 2023

    Binance Delivers The Good News For These 2 Altcoin Investors!

    Ocak 11, 2023

    Bitcoin Price Predictions for 2023 from the Professionals

    Ocak 11, 2023

    Why Is Bitcoin Price Rising? Will the Ascension Continue?

    Ocak 11, 2023
  • Technology
  • Contact
CryptossorCryptossor
Home»Bitcoin»Bitcoin Billionaire: This Platform Could Crash! But Like FTX..
Bitcoin

Bitcoin Billionaire: This Platform Could Crash! But Like FTX..

cryptossorBy cryptossorOcak 11, 2023Yorum yapılmamış3 Mins Read
Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email
Share
Facebook Twitter Pinterest Reddit WhatsApp Email

According to the Bitcoin billionaire, Digital Currency Group’s continued financial woes will not put further pressure on crypto prices.

Bitcoin billionaire says there will be no selling pressure

Galaxy Digital Holdings CEO Mike Novogratz said fears about the crisis facing Digital Currency Group (DCG) and Genesis “won’t involve a lot of sales”, albeit “not good news”.

In an interview with CNBC’s Squawk Box on January 10, Novogratz said he expects the current fiasco facing DCG and its related companies to ‘play out’ in the coming quarter. ‘There are some highlights like DCG, Genesis and Gemini that will be revealed next quarter. It won’t be great,’ said Novogratz, then ‘I don’t think there will be a lot of sales, that’s not good news.’ he added.

"The outlook for #crypto is not horrible but it's not great. We've got regulatory headwinds we didn't have before. People are going to cut costs and survive this transition period," says @novogratz. "Crypto is not going away. It's a pretty clean market right now." pic.twitter.com/k57ITlRFOV

— Squawk Box (@SquawkCNBC) January 10, 2023

DCG is a major crypto holding known as the owner and operator of Grayscale Investments, the world’s largest digital asset manager. He also owns corporate lending firm Genesis, consulting firm Foundry, crypto exchange Luno, and crypto media firm CoinDesk.

It can affect the crypto market

Novogratz’s view is in stark contrast to Arcane Research’s January 4 report, which warned investors to be mindful of the ‘continuing financial distress’ in DCG, as the result could ‘severely impact the crypto markets’. He argued that if DCG went bankrupt, the company could be forced to liquidate assets and sell large positions in the Grayscale Bitcoin Trust (GBTC) and other crypto-related trusts, which would put pressure on crypto prices.

Investors should pay attention to the ongoing financial distress related to Digital Currency Group (DCG) as the outcome could severely impact crypto markets.

Read more:https://t.co/5syXBpEw7q

— Arcane Research (@ArcaneResearch) January 4, 2023

However, Novogratz argued that both Bitcoin and Ether have remained “pretty stable” despite “a lot of bad news” over the past few months and have even seen an increase over the past few days. “It is a pretty clean market right now,” Novogratz said, referring to investors who have sold or reduced their leverage in recent months.

Alarm bells for DCG and Genesis first began ringing late last year, after Genesis halted withdrawals on November 16, citing the “unprecedented market turmoil” caused by the collapse of FTX and Three Arrows Capital.

Co-founder stated that DCG did not pay its debts

As we mentioned earlier as Kriptokoin.com, Gemini co-founder Cameron Winklevoss, in an open letter sent to DCG CEO Barry Silbert on January 2, stated that DCG-owned Genesis owes Gemini and DCG owns He claimed he had not yet repaid the $900 million loan he owed to Genesis.

Earn Update: An Open Letter to the Board of @DCGco pic.twitter.com/eakuFjDZR2

— Cameron Winklevoss (@cameron) January 10, 2023

On January 10, Winklevoss wrote a second letter, this time to DCG’s board, claiming that Silbert and DCG were only pretending to fill a $1.2 billion gap in the Genesis balance sheet. He said Silbert was “unfit” to run the company and called for his dismissal with immediate effect.

Company Crypto Dcg Genesis
Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
Previous ArticleFlare Network Lists on Exchanges After Airdrop
Next Article Zipmex’s Recovery Plans Are Getting Harder
cryptossor
  • Website
  • Twitter

The most realistic News Of The Crypto press@cryptossor.com https://twitter.com/cryptossorcom

Related Posts

Binance Delivers The Good News For These 2 Altcoin Investors!

Ocak 11, 2023

Famous Stock Exchange Delists 33 Altcoins: Here is the List!

Ocak 11, 2023

Apple made an all-in-one cellular, Wi-Fi and Bluetooth chip

Ocak 11, 2023

Tomorrow is Critical Day for Bitcoin: 5 Analysts Are Waiting For These!

Ocak 11, 2023

Could BONK Be The Next SHIB? If Not Which Coin?

Ocak 11, 2023

2 Important Charts Say ‘Buy’ This Cryptocurrency!

Ocak 11, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Our Picks
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Economy

The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

By cryptossorOcak 11, 2023

According to information, Samsung is canceling the ‘Plus’ model of the Galaxy S24 series, which will be released in 2024. So why is Samsung taking such a decision?

Binance Delivers The Good News For These 2 Altcoin Investors!

Ocak 11, 2023

Bitcoin Price Predictions for 2023 from the Professionals

Ocak 11, 2023

Why Is Bitcoin Price Rising? Will the Ascension Continue?

Ocak 11, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

Facebook Twitter Pinterest

Type above and press Enter to search. Press Esc to cancel.