The cryptocurrency lender BlockFi has filed for bankruptcy.
BlockFi denied that the majority of its assets were custodied at FTX. However, it acknowledged at the time, “we do have significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US.”
BlockFi files for bankruptcy, cites FTX collapse for its troubles
Same as every debt-based financial collapse. Don't be one of the dominoes, is my only advice. You may not even think you are, but take a deep look at every dependency and what they do with your crypto. Unless, you've accepted the risks, you won't know your exposure.
Genesis Bankruptcy by EOY Now At 59% – Sentiment Of Bitcoin Investors Pivots
Why is GBTC trading at such a huge discount to NAV?
GBTC: Here's Why The Discount Became Larger Still
This looks odd.
Their BCH fund is trading at 42% discount;
Their Filecoin fund is trading at about 250% premium.
Buy the fear - if you can - on OTCQX.
If it was a simple ETF it would never have had such a discount.
Indeed, those large discounts and premiums shows what happens with fairly illiquid assets.
Something similar happened with BYT; back in May, the ABV peaked at about 2.9 HIVE but the market price never went above 1.9 - that's a discount of some 34%!
🎉 Your content has been upvoted 🎉
- This comment is dedicated to one of witness - rycharde
- Support him by voting as witness
- Blurt iOS App
- Blurt Android App