An advertisement for BlockFi, a crypto lending operation, that has secured a loan from Sam Bankman-Fried, chief executive of crypto trading platform FTX. Photograph: Samuel Corum/The New York TimesSam Bankman-Fried has bolstered the stumbling $900 billion crypto industry with his second bailout of a struggling digital assets firm in as many weeks.
The moves come as the crypto industry tries to restore confidence during a period of accelerating pressure on the price of digital assets such as bitcoin, which has pushed even some of the biggest market participants in the industry into distress. “Sam became a lender of last resort,” said Anatoly Crachilov, chief executive of London fund manager Nickel Digital Asset Management.
Source: Loan Digest (loandigest.net)
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Bitcoin wobbles near key $20,000 levelThe cryptocurrency industry was on edge this morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained. Hahahah RTE getting in on the shite stirring. Love to see it! Bitcoin has been declared dead well over 100 times. Where we are now is a generational buy opportunity. You WILL regret not buying The current market is like this... would rte not be well advised to stay out of this as you're just going to draw in unadaptable people lead by emotions to be slaughtered as there's bull traps popping up like daisies!
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