FTX on the verge of purchasing BlockFi in $25M fire sale: Report

Cryptocurrency exchange FTX is close to purchasing digital asset lender BlockFi’s remaining assets for $25 million, according to CNBC. According to sources close to the matter, BlockFi’s equity investors were wiped out and are now writing their positions off at a loss. In addition, the FTX deal could take multiple months to close, opening up … Read more

Microstrategy Debunks Margin Call Rumor — Says Bitcoin Liquidation Unnecessary Even if BTC Falls Below $3,562 – Featured Bitcoin News

The CEO of the Nasdaq-listed software company Microstrategy has debunked the rumor that his company is facing a margin call for a bitcoin-backed loan and will be forced to sell some coins. If the price of the cryptocurrency “falls below $3,562 the company could post some other collateral,” the executive explained. Microstrategy Hasn’t Received a … Read more

Chain.com tokens lose 96% of value in 24 hours due to flash crash before recovery

On Tuesday, tokens of cloud blockchain infrastructure provider Chain.com (XCN) suddenly lost over 90% of their value before recovering most of their losses later in the day. In a post-mortem analysis published by Chain.com, the firm said that a market maker and API error at 01:00 SGT began to cause XCN to drop in large … Read more