Short-Investment Products See Record Inflows Following FTX Crisis – November 22

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $16,162

Bitcoin price fell to as low as $15,600 over the last 24 hours, but has recovered to the $16,000s to begin Tuesday.

Top-20 altcoins have also seen relief over the last day of trading, as Ethereum rises 1%, BNB gains 2% and Litecoin bounces back strong with a 13% advance.

Top Stories for November 22, 2022 πŸ”₯

πŸ‘‰ Short-Investment Products See Record Inflows Following FTX Crisis

The crypto market has seen record inflows into short-investment products following the FTX crisis, according to data from CoinShares.

According to the firm’s chief strategy officer, James Butterfill, three-quarters of all inflows by institutional investors last week were places in these short-investment products – betting against the price of cryptocurrencies.

This included $18.4 million into short investment products for Bitcoin and $14 million for Ether. Blockchain equity products saw the largest weekly outflow since May 2022.

πŸ‘‰ Tornado Cash Developer To Be Detained For Further 3 Months

Alexey Pertsev, the developer of the Tornado Cash crypto mixer tool, will be detained for a further three months, until at least February 2023.

Pertsev has already been in jail in the Netherlands since August for his role in creating the privacy tool, which was allegedly used by North Korean hackers to launder stolen money.

πŸ‘‰ Coinbase Shares Reach All-Time Low of $40.62

Publicly-traded US crypto exchange, Coinbase, has seen its share price reach a new low of $40.62, after a 10% drop on the day and 39% fall during the month of November.

The stock has lost more than 80% of its value this year alone, and almost 90% since it went public on the Nasdaq.