Here Are The Notable Crypto Fallouts Over The Last Two Years
Portfolio Pulse from Khyathi Dalal
The article recaps major crypto disasters of 2023, including regulatory scrutiny of Binance, the collapse of FTX due to a liquidity crisis, Celsius filing for bankruptcy, BlockFi filing for Chapter 11 bankruptcy protection, Coinbase settling with New York regulators for $100 million, Genesis filing for bankruptcy, and Three Arrows Capital heading into bankruptcy. U.S. markets are seeing a dull phase, with companies like Coinbase and Gemini looking to operate in Asian countries due to clearer regulations.
October 14, 2023 | 10:04 pm
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NEGATIVE IMPACT
Binance came under SEC scrutiny for mishandling investors' assets, lying to regulators, and violating securities laws.
The SEC scrutiny indicates potential legal and regulatory challenges, which could negatively impact the value of BUSD in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Celsius filed for bankruptcy and reached a $4.7 billion settlement with the U.S. over fraud allegations.
The bankruptcy filing and fraud allegations indicate severe financial and legal challenges, which could negatively impact the value of CEL in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Coinbase opened a business in Bermuda and settled with New York regulators for $100 million. The company also laid off employees to cut costs amid falling crypto markets.
The regulatory settlement and layoffs indicate financial and operational challenges, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The article does not provide any specific information about BTCUSD.
The article does not mention BTCUSD, so no impact can be determined.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0
NEUTRAL IMPACT
The article does not provide any specific information about ETHUSD.
The article does not mention ETHUSD, so no impact can be determined.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0