Liquidation

Global financial giant JPMorgan published an analysis on November 6 claiming that Bitcoin now has "significant upside" and looks mechanically cheaper than gold on a volatility-adjusted basis.

A review of the top 5 cryptocurrency news stories from that week by Coinidol.com.

The end of the week was noted by extreme market turbulence, with over $1.15 billion in leveraged positions being liquidated across major exchanges.

The crypto market saw a mix of institutional integration, major corporate moves, and political developments in the second half of September. Coinidol.com takes a look at the top five most interesting headlines from the past two weeks.

Just a week ago, everyone in the cryptocurrency market expected that the "crypto winter" was over and that we were moving towards the spring of 2023, with a positive outlook for an upward trend.

The bankrupt FTX exchange owes billions of dollars to its users, who have now become creditors. However, the lawyers give rather gloomy forecasts and explain that they will have to wait for decades to be reimbursed.

With New Zealand Exchange Cryptopia in the midst of a liquidation process, hackers seem to consider it an easy victim. Despite it being under the supervision of Grant Thornton liquidators, criminals have stolen over $40,000.

The allocated liquidator for Cryptopia, the collapsed New Zealand-based cryptocurrency exchange, has managed to recover around NZ$7.2 Mln (approx. $5 Mln) on balance since it was attacked by anonymous hackers for feasibly $18 Mln early this year. The exchange went into liquidation back in May after facing a gigantic attack by deadly unknown hackers in January.

The popular New Zealand (NZ)-based cryptocurrency exchange Cryptopia was unexpectedly attacked twice by anonymous hackers in January who run away with more than $18 million worth of cryptocurrency from around 80,000 wallet addresses. From the complicated liquidation actions being conducted by Grant Thornton, an update for all account holders was announced.