Market Cap: $2,183,413,091,136
24h Vol: $93,851,252,584
Cryptocurrencies: 23101
Markets: 85105
Cryptocurrencies: 23101
Markets: 85105
Market Cap: $2,183,413,091,136     
24h Vol: $93,851,252,584
Seeking Alpha 2022-11-14 16:08:56

BitNile sees no direct exposure to collapsed FTX crypto exchange

BitNile sees no direct exposure to collapsed FTX crypto exchange
BitNile Holdings ( NYSE: NILE ) said Monday that it expects to have zero exposure to the meltdown of the once-prominent cryptocurrency exchange, FTX, which recently filed for Chapter 11 bankruptcy . Its bitcoin ( BTC-USD ) holdings are secured in custodial wallets that "mitigates the risk of loss similar to those from the FTX disruption," the BTC miner said. “Other than the very difficult market conditions for Bitcoin in recent days, BitNile and its subsidiaries have not been disrupted by recent bankruptcies of industry participants," said BitNile Executive Chairman Milton “Todd” Ault, III. With the FTX debacle sending shockwaves throughout the cryptoverse, bitcoin ( BTC-USD ) has dropped 9% in the past five trading sessions. Previously, (Nov. 11) digital asset focused bank Silvergate Capital ( SI ) said its FTX exposure was limited to deposits .
esptco-banner img
Latest News

Videos

  • Brave Browser Review 2022: Why Brave Browser is Good for Crypto?

  • What is a Shiba Inu Coin & How Does it Work? Simply Explained!

  • How to Buy BTC with Binance Mobile!

  • How to Buy BTC with Coinbase?

Our Partners

Hashing Ad Space
Inbound Junction
Magic Logix
Asimi
Crypto Marketing Agency, FINPR
Chainwire