Facing dwindling cash reserves, cryptocurrency exchange platform Bakkt sounded an alarm on Wednesday, raising doubts about its ability to continue operating beyond the next year. After going public in 2021 amidst market enthusiasm, Bakkt’s share price has plunged to $1.45, a stark contrast to its 2021 peak of over $40. This financial struggle casts a shadow on the platform’s future, leaving its long-term viability uncertain.
Hong Kong’s crypto unicorn just galloped into a new pasture! HashKey Group, boasting the city’s second licensed exchange, secured a cool $100 million, catapulting its value past $1.2 billion. With venture capital, staking, and even NFTs in its saddlebag, HashKey is poised to dominate the digital asset race in Asia, leaving rivals in the dust. Buckle up, the crypto Wild West just got even wilder.
The Web3 lifestyle app STEPN unlocked 79.2 million GMT tokens on January 8 and transferred most of them to four addresses, which then distributed them further. Some of the recipients sent the tokens to exchanges like Binance, raising questions about the motive behind the move.
Trading chaos erupted on Binance as the price of its Bitcoin/USDT contract inexplicably surged to $420,000 multiple times, raising concerns about platform stability and sparking confusion among traders.