Crypto Takes Another “L” as Turkish Exchange Founder Runs With $2bn in User Funds

[ad_1] Faruk Fatih Ozer, the founder of the Turkish crypto exchange Thodex, is reportedly on the run with billions of dollars of users’ funds. Reports claim the exchange website shut down on Wednesday, with a message saying trading was suspended due to an “unspecified outside investment.” Many Turks had turned to crypto as a lifeline … Read more

Bitcoin funding rate flips negative after $48K retest — Was it a bear trap?

[ad_1] As Bitcoin (BTC) lost the $52,000 support on April 22, the futures contracts funding rate entered negative terrain. This uncommon situation causes the shorts, investors betting on price downside, to pay fees every eight hours. While the rate itself is mildly damaging, this situation creates incentives for arbitrage desks and market makers to buy … Read more