social 1 Crypto Market Surges: Why Now Is The Time To Invest

Crypto Market Surges: Why Now Is The Time To Invest

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The current crypto market is similar to the Nasdaq in the early 2000s after the washout, according to IDX’s McMillan.

IDX’s mutual fund Risk-Managed Bitcoin Strategy Fund has kept its investments mostly in cash since the end of last year, as bitcoin trades more than 67% down from its peak in November, McMillan said.

The fund is recently starting to “put a little bit of risk back on the table,” according to McMillan.

FTX and Alameda on July 22 jointly proposed to buy all digital assets and crypto loans of Voyager other than its claims on hedge fund Three Arrows, in “immediately available cash” at fair market value.

In response to FTX and Alameda’s proposal, Voyager’s lawyers said it would hurt the company’s customers, undermining the efforts to maximize value in the bidding process, capping users’ crypto claims to their dollar values, and letting consumers bear the tax consequences of transactions, among other concerns.

“The AlamedaFTX proposal is nothing more than a liquidation of cryptocurrency on a basis that advantages AlamedaFTX,” Voyager’s lawyers wrote in a court filing on July 24.

Still, “the deal isn’t necessarily dead,” Bankman-Fried said Tuesday in an interview with Yahoo Finance.

 

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