{"id":1809067,"date":"2023-01-18T06:49:54","date_gmt":"2023-01-18T11:49:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1809067"},"modified":"2023-01-18T06:52:24","modified_gmt":"2023-01-18T11:52:24","slug":"bitcoin-recovers-all-losses-since-ftx-implosion","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bitcoin-recovers-all-losses-since-ftx-implosion\/","title":{"rendered":"Bitcoin Recovers All Losses Since FTX Implosion"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbitcoin-recovers-all-losses-since-ftx-implosion%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1809067&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Bitcoin is now at over $21,000, which is well below its Nov. 2 value of $20,283.<\/li>\n<li>The cryptocurrency plummeted by 22% in less time than a day between Nov. 7th and Nov. 8 as investors struggled with the implications of a possible FTX crash and the likelihood that a Binance-backed FTX bailout would be implemented.<\/li>\n<li>It dropped below $16,000 several more times over the next weeks.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107061973\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">A Bitcoin logo in a BitBase cryptocurrency trading platform in Barcelona, Spain on Monday, May 16, 2022.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\"> Bloomberg | Bloomberg | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BTC.CM=\/\">Bitcoin<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> It has remained above $21,000 over the past two days, which puts it back above its price when it was traded on Sam Bankman-Fried\u2019s crypto exchange. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/FTT.CM=\/\">FTX<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span>, started its slide towards bankruptcy.<\/p>\n<p>Bitcoin&#8217;s price has been steady at $21,000 since Monday. This is well above its Nov. 2, $20,283 high.<\/p>\n<p>According to CoinMarketCap data, bitcoin&#8217;s price has increased by more than 22% over the past seven days. Bitcoin lost the same amount in less that a day between Nov. 7th and Nov. 8 as investors struggled with the implications of a possible FTX collapse, and the possibility of a Binance-backed FTX bailout. The price dropped below $16,000 several more times over the next weeks.<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107179689\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107179689\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000281537\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107179690-16739817671673981764-27766413565-1080pnbcnews.jpg?v=1673986180&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"New initiative to trade bankruptcy claims in the crypto space\"   style=\"display:none\"><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>CoinDesk reported irregularities at FTX\u2019s sister hedge fund Alameda Research on Nov. 2. Within days, a few billion dollars&#8217; worth of cryptocurrencies started to flow out of FTX. A possible rescue deal with ChangPeng Zhao\u2019s Binance collapsed Nov. 8, and FTX as well as Alameda declared bankruptcy Nov. 11.<\/p>\n<p>Over the course of that time, bitcoin, which was long the most popular and well-capitalized cryptocurrency in the world, became a vehicle for investor concern.<\/p>\n<\/div>\n<div>\n<div class=\"InteractiveChart-caption\">The Bitcoin price has now recovered its losses from FTX&#8217;s collapse<\/div>\n<\/div>\n<div class=\"group\">\n<p>The industry is experiencing deep uncertainty as a result of the price rise. The Securities and Exchange Commission (SEC) will be meeting on Thursday. <a href=\"https:\/\/www.cnbc.com\/2023\/01\/12\/sec-charges-genesis-and-gemini-with-selling-unregistered-securities.html\">charged two crypto companies<\/a>Gemini, Genesis Trading, and Genesis Trading, offering unregistered securities.<\/p>\n<p>Numerous rounds of layoffs have hit crypto exchanges, including <a href=\"https:\/\/www.cnbc.com\/2023\/01\/10\/coinbase-to-slash-20percent-of-workforce-in-second-major-round-of-job-cuts.html\">Coinbase<\/a> And <a href=\"https:\/\/www.cnbc.com\/2023\/01\/13\/cryptocom-lays-off-20percent-of-workforce-after-ftx-collapse.html\">Crypto.com<\/a>.<\/p>\n<p>According to CoinMarketCap data, Bitcoin&#8217;s rally has outpaced gains made by other cryptocurrency. The last seven days have seen a surge in Bitcoin. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ETH.CM=\/\">ether<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> has increased 18%. The exchange token Binance is now worth 18%. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BNB.CM=\/\">BNB<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span>And <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\"><a href=\"https:\/\/www.cnbc.com\/quotes\/XRP.CM=\/\">ripple<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> They have increased by 10% and 11% respectively.<\/p>\n<p>But ether competitor <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SOL.CM=\/\">solana<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> It has seen its price increase by more than 44% over the past seven days. This was largely due to the minting of Bonk Inu, a non-fungible token based on dogs, on Solana\u2019s blockchain.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">CNBC Pro offers more tech and crypto information<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is now at over $21,000, which is well below its Nov. 2 value of $20,283. The cryptocurrency plummeted by 22% in less time than a day between Nov. 7th and Nov. 8 as investors struggled with the implications of a possible FTX crash and the likelihood that a Binance-backed FTX bailout would be implemented. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1809070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[4254,5458,7334,15386,4342,15385,3819],"class_list":["post-1809067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bitcoin","tag-bongino","tag-ftx","tag-implosion","tag-losses","tag-recovers","tag-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1809067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1809067"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1809067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1809070"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1809067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1809067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1809067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}