FTX contagion goes on, and Bitcoin's price continues trading in a range while MicroStrategy buys more of it.
MicroStrategy Buys More BTC, FTX Revelations and More Contagion: This Week’s Crypto RecapFTX contagion goes on, and Bitcoin’s price continues trading in a range while MicroStrategy buys more of it.
First things first, Michael Saylor’s MicroStrategy seems far from being done with buying BTC. The company revealed another purchase of more than 2,000 bitcoins, bringing its total to more than 132K. It’s also worth noting, though, that the company also sold around 700 BTC for the first time ever – for tax purposes.
Elsewhere, revelations in the case against FTX, Alameda, and its executives continue with full force. This week, it became clear that Bankman-Fried used a loan from Alameda to buy his shares in the popular retail-oriented trading platform Robinhood. Later in the week, it also became clear that the Bahamas seized a whopping $3.5 billion from the exchange to keep them from vanishing.
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