speculators – DIGIT INFO

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

DIGIT — Sat, 11 Mar 2023 20:30:15 +0000

Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others […]

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Expert Warns of Possible Deflationary Depression as Money Supply Contracts: ‘Pay Attention to QT and the Money Supply’

DIGIT — Thu, 09 Mar 2023 19:30:45 +0000

During the Covid-19 pandemic, central banks such as the U.S. Federal Reserve loosened fiscal and monetary policy. Now, these same financial institutions are seemingly engaging in quantitative tightening (QT) practices. According to Nick Gerli, CEO and founder of Reventure Consulting, “the money supply is officially contracting.” This has only happened four times in the last […]

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Bitcoin’s Third Largest Wallet Changed Hands, but Onchain Data Shows It’s Likely the Same Owner

DIGIT — Sun, 04 Dec 2022 21:00:39 +0000

Last year and during the first half of 2022, speculators assumed the third-largest bitcoin address was a ‘mysterious whale,’ even though the wallet had shown strong characteristics of being a cryptocurrency exchange. The address known as “1P5ZED” has since been replaced by another address, after the wallet started to transfer its entire bitcoin balance in […]

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Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation

DIGIT — Tue, 09 Aug 2022 08:10:49 +0000

Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciation of the local currency, a report said. According to Abdulrasheed Bawa, the EFCC chairman, his organization is currently going after foreign currency speculators in Kano, Lagos, Port Harcourt, Enugu, and […]

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Report: Goldman Sachs Looks to Buy Distressed Assets From Celsius, Crypto Lender Seeks Restructuring Advice

DIGIT — Sat, 25 Jun 2022 19:30:34 +0000

After the crypto lending platform Celsius halted operations on June 12, at 10:10 p.m. (ET), two days later the Wall Street Journal (WSJ) quoted “people familiar with the matter” who said Celsius was hiring restructuring lawyers. At the time, the WSJ said Celsius was looking to hire the bankruptcy and restructuring law firm Akin Gump […]

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Report: Celsius Hires Citigroup to Help the Startup Find ‘Potential Financing’

DIGIT — Thu, 16 Jun 2022 19:30:50 +0000

According to “two people familiar with the matter,” the cryptocurrency lending company Celsius is working with the financial giant Citigroup in order to get advice on how to handle the firm’s financial hardship. The sources note that Citigroup was hired by Celsius to help the company find “potential financing.” Sources Say Celsius Is Looking for […]

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Report: Celsius Seeks Help From Restructuring Lawyers Over Financial Hardship

DIGIT — Wed, 15 Jun 2022 05:30:42 +0000

Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys is one of the first stages of fixing a company’s financial hardship by essentially attempting to avoid insolvency. […]

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Rumors Claim Large Bitcoin Wallet Is a Whale’s Stash or Microstrategy’s Wallet Despite Conflicting Data

DIGIT — Thu, 21 Apr 2022 16:30:20 +0000

Five months ago, Bitcoin.com News published a story concerning the speculation surrounding the third-largest bitcoin wallet, as many observers believe the address is a mega whale. The report noted at the time that the address “1P5ZED” shows all the tell-tale signs that it’s an exchange platform, but to this very day speculators still assume and […]

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While Speculators Believe Bitcoin’s Third-Largest Wallet Is a Mystery Whale, Onchain Data Suggests It’s an Exchange

DIGIT — Sat, 20 Nov 2021 01:05:20 +0000

The price of bitcoin has dipped below the $60K zone, a number of people have been talking about the third-largest bitcoin address called “1P5ZED” which has accumulated thousands of bitcoin during the last few days. Nobody knows who the owner of the wallet is but it holds more than 111,359 bitcoin, as it’s been steadily […]

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Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes

DIGIT — Sat, 22 May 2021 12:00:29 +0000

According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only a “massive funding” of bureau de change (BDC) […]

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