I hate to even bring it up as the thread will spin out of control, but I know a few crypto nerds on here have some insight.
What I know is over the last day or two, FTX the 3rd largest crypto exchange behind Coinbase and Binance had rumors of insolvency and they were amplified (or started I am not sure which) by the CEO of Binance. Now today, Binance is buying FTX and the shinola is hitting the fan apparently across the entire crypto spectrum. I know the last thing I read about Binance is that they are under investigation from the US Justice Department for allowing Iranian firms to avoid sanctions. I think Binance has been on the US shitlist for 3-4 years honestly.
Bitcoin has moved up and down within an 18% intraday range and Ethereum 22%. Its going nuts right now. Any insight on the implications of all this mess? I know a few of the SPSers are way more into the crypto world than I am.
What I know is over the last day or two, FTX the 3rd largest crypto exchange behind Coinbase and Binance had rumors of insolvency and they were amplified (or started I am not sure which) by the CEO of Binance. Now today, Binance is buying FTX and the shinola is hitting the fan apparently across the entire crypto spectrum. I know the last thing I read about Binance is that they are under investigation from the US Justice Department for allowing Iranian firms to avoid sanctions. I think Binance has been on the US shitlist for 3-4 years honestly.
Bitcoin has moved up and down within an 18% intraday range and Ethereum 22%. Its going nuts right now. Any insight on the implications of all this mess? I know a few of the SPSers are way more into the crypto world than I am.