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Crypto Market Dips Into a Deep Hole, ATX Loses $1,100

The crypto market fell into a deeper hole than it had been in the early hours.

BTC dropped to around 15,700 while ETH lost 1,100 amid the bad news about @GenesisTrading

Cryptocurrency Prices Heatmap, Market Cap, Charts & Widget – COIN360

Though Genesis said it had no plans to file for bankruptcy, a report suggested that the firm had already warned investors of the worst case:

It was said to seek help from @binance too, but failed:

Crypto lender Genesis says no immediate plans to file for bankruptcy
db on Twitter

FTX Group has cash balance of 1.24B:

@SBF_FTX his parents and FTX execs bought at least 19 properties worth ~121M in the Bahamas:

FTX Group has cash balance of 1.24 billion, new bankruptcy filing shows
unusual_whales on Twitter

Meanwhile, FTX victims were warned against an impersonator pretending to be SBF and promising to compensate users - just to drain their wallets.

Jason Koebler on Twitter

In terms of macro, Fed's Mary Daly said the policy rate was currently in "modestly restrictive" territory and "there is more work to do" to get monetary policy in the right place to cool inflation.

FOMC minutes could contribute to the current volatility.

Real impact of Fed hikes likely bigger than what target rate implies, Daly says

The clear winner among top 100 today should be HT with a 7.25% surge.

The spike was powered by @HuobiGlobal refreshed brand for global expansion, with the aim of bringing more value to the crypto space.

Huobi on Twitter

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