On the morning of November 30, the bitcoin exchange rate exceeded $17.1 thousand for the first time in 16 days. As of 9:50 Moscow time, the cryptocurrency is trading at $ 16.8 thousand, over the past day it has risen in price by 2%.
Bitcoin has been getting more expensive since last week its price fell to the lowest since November 2020 at $15.4 thousand. The crypto market remains under pressure amid the massive bankruptcy of companies after the collapse of the FTX crypto exchange.
Earlier, the BlockFi crypto-lender filed an application to the court under chapter 11 of the US Bankruptcy Code. In court documents, the company stated that it has more than 100 thousand creditors. Its assets, as well as liabilities, can be estimated in the amount of $1 billion to $10 billion.
On November 11, the platform announced the suspension of withdrawals for customers. This decision was due to an unclear situation with FTX, FTX US and Alameda companies. On the same day, the FTX Trading Ltd. crypto exchange, Alameda Research and 130 other affiliated companies began bankruptcy proceedings.
The founder of the exchange, Sam Bankman-Fried, secretly covered the losses of his company Alameda with funds from FTX clients. He used at least $4 billion from the exchange's funds for this. On the day of filing the court application, Bankman-Fried left the post of CEO of the platform, and bankruptcy specialist John Ray III, who previously conducted this procedure at Enron energy company, was appointed as the new CEO.