Sunday, April 2, 2023

Major US crypto exchange on the brink of collapse

by admin
0 comment

Is the Bitcoin price diving again?

Major US crypto exchange on the brink of collapse

The American crypto trading platform Genesis has filed for bankruptcy. The first hearing in court will take place on Monday. The Bitcoin course is unimpressed and continues to rise. Why it is like that.

Published: 9 minutes ago


Genesis is one of the largest crypto trading platforms in the USA.

The bitcoin price goes up and up. In the current year, the price of the world’s largest digital currency has climbed by over 37 percent – from 15,000 to currently over 21,000 francs. Most other cryptocurrencies are also on a recovery course, but this could now be stopped abruptly.

Because the case of Genesis shocked the industry at the end of last week: The large American crypto exchange filed for bankruptcy on Friday. Specifically, the Chapter 11 reorganization proceedings in US law affect the company’s lending division. Recently, Genesis was no longer able to raise the necessary liquidity to meet the existing demands of the lenders.

Related News

Latest Switzerland News and updates and political news, follow our daily update about the congress and the government roundup, we also provide the latest news from all over the world minute by minute, subscribe to get the latest updates directly to your inbox.

© 2022 All Right Reserved. Switzerland Times