Prices aside, bear markets are for building. And that’s really when things get interesting.
On Monday, two stories emerged within a few hours of each-other, accusing Binance of wrongdoing.
Chanos, who made a name for himself successfully betting against corporate frauds like Enron, explained that he was making a bet against what he calls “Coinbase’s predatory business model.”
Regardless of the market’s recent drawdown, billions of dollars are flowing into the system from nearly every direction.
New research from the Cambridge Centre for Alternative Finance (CCAF) shows that Chinese bitcoin mining activity has quickly rebounded regardless of China's ban.
Call it what you want, but had you only read CoinSnacks, you probably wouldn’t be a part of this mess.
Both bitcoin (BTC) and ether (ETH) are down roughly 25% in 7 days. In fact, at the time of writing, BTC is hovering around $29k, its weakest level since July 2021.