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CryptoCompare experts talked about the main events in the cryptocurrency industry over the past day as of November 23, 2022. They noted: lawyers at the FTX trading platform announced the absence of a “substantial” part of the assets on the company’s balance sheets, Digital Currency Group disclosed liabilities for $ 2 billion, and a Coinbase survey showed that 62% of investors increased their investments in cryptocurrencies this year.
FTX lawyers assured that most of the virtual assets belonging to the trading platform were either stolen or went missing. They voiced this point of view during the hearings on the bankruptcy case in the federal court of the state of Delaware (USA).
James Bromley, a partner at the law firm Sullivan & Cromwell, stressed that due to former CEO Sam Bankman-Freed’s poor management style, lawyers have limited information about the firm’s financial condition. The expert emphasized that digital assets were stolen by unknown people during numerous cyber attacks on the platform.
Digital Currency Group (DCG) has told investors it has $2 billion in debt, including a $575 million loan from subsidiary Genesis Global Capital. There is also a $350 million debt line from a group led by Eldridge Industries and a $1.1 billion promissory note related to the collapse of Three Arrows Capital.
Coinbase representatives said: 62% of investors have increased the size of their investments in cryptocurrencies over the past year. At the same time, only 12% of respondents have reduced allocations. According to experts, this indicates that institutionalists continue to look at this asset class in the long term, even despite the fall in market prices.
Earlier, the editors of Crypto.ru reported: CRV quotes increased by 43% per day.
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