Bitcoin and ether remain resilient, even after crypto lender Genesis filed for Chapter 11 bankruptcy protection as traders say the news was already priced in. bitcoin ether crypto markets genesis
Cameron Winklevoss threatened to sue DCG CEO Barry Silbert over the repayment of a $900 million loan
in a tweet published just minutes after Genesis filed for Chapter 11. The tweet comes after Winklevoss waged a Twitter war against DCG to recover the loan amid his exchange’s own struggles. Winklevoss called Genesis' bankruptcy a “crucial step” toward recovering Gemini users’ assets. But he still intends to sue Silbert and Genesis’ parent company, DCG, unless Silbert makes a"fair offer" to DCG's creditors.after the Genesis bankruptcy news hit the wires.
Cycles comprised a 12-month-long bear market that ended 15-17 months ahead of the halving, paving the way for a three-year uptrend."The conditions are ripe for a breakthrough in 2023 that could catalyze a new bull market. We are excited by the growth of layer 2 solutions, the development of ZK-rollups and privacy solutions, and many other emergent capabilities of crypto," Bitwise's analysts led by Chief Investment Officer Matthew Hougan wrote in a review of the fourth quarter.
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