Blockfi eventually files for bankruptcy

Blockfi eventually files for bankruptcy. After the FTX bankruptcy, we were convinced that other exchanges were in danger and Blockfi, who suspended his withdrawals after the FTX crash, was one of the suspects. The company in the past received a $400 million line of credit from FTX and there was talk of a possible acquisition but we all know how that ended. They had previously had a liquidity crisis due to the liquidation of one of their most important clients (this client is believed to be 3AC).

Alameda Research liquidators have about 49 million SOL tokens in their possession, something that may reduce selling pressure as they should be frozen for a while.

In China, protests by workers against Covid 0 policies continue and this brings problems to Apple and other foreign companies. Many of them consider relocation of production. The Chinese economy is imploding and there are already rumors that the government is buying shares in some companies to sustain the decline.

Deutsche Bank dares to forecast that the economy is going to contract twice as fast in the USA as in Europe and that the GDP will also fall faster than in Europe, personally, I highly doubt it. Something unexpected would have to happen like the end of the conflict in Ukraine.

We have Bitcoin around 16.500$ y Ethereum over 1.200$ at the moment.

Cryptoword

Honeygain

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