top of page
Search

Bitcoin Drops As US Government Wallet Makes Transactions

GB Market Commentary 27/04/2023

by Marcus Sotiriou


Bitcoin dropped almost 10% yesterday after climbing to $30,000, as around 19,400 Bitcoin were sold on Binance. $30,000 is proving to be a pivotal price region for Bitcoin to overcome, as there were 20,000 Bitcoins sold the previous time Bitcoin reached this level.


Many speculate that this drop was caused by a tweet from Arkham, who announced that Mt Gox and US Government wallets were making transactions. This caused extreme panic on Crypto Twitter as investors became fearful of the thousands of Bitcoin from the Mt Gox hack and those held by the government being sold onto the market. However, the alert on Twitter actually came after the big drop in price.


The bankrupt digital asset broker Voyager has confirmed that BinanceUS will not be going ahead with buying their $1.3 billion. The digital asset broker said that it will still be returning funds back to clients, but the decision from BinanceUS to pull out was disappointing.


The Voyager Official Committee of Unsecured Creditors has said it would investigate claims against BinanceUS for how they have proceeded with the purchase agreement.


The result of BinanceUS pulling out is that the thousands of customers of the bankrupt digital asset broker have to further wait to receive their locked funds.


Trade with us by downloading the GlobalBlock app today!


Comments

GCEX New Logo and Icons 300X300 (1).png

Terms & Conditions

Privacy & GDPR Policy

Cookie Policy

Jurisdictions

Complaints Procedure

+44 20 4634 3947

info@globalblock.eu

​

  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • telegram logo

GC Exchange A/S is a company incorporated and registered in accordance with the laws of the Kingdom of Denmark (CVR 43088777), authorised by the Danish Financial Supervisory Authority (FTID 45020) as a Currency Exchange and registered as a Virtual Asset Service Provider (FTID 17524) under the Danish Act on the Prevention of Money Laundering and Financing of Terrorism. 

​

GlobalBlock is a trading name of GC Exchange A/S. Following GCEX’s acquisition of GlobalBlock, all services previously provided under the GlobalBlock name are now operated and managed by GC Exchange A/S.

 

All fiat and cryptoassets transferred to GC Exchange A/S are received and held on a title transfer basis, meaning ownership passes to GC Exchange A/S and clients hold a contractual claim for equivalent amounts. Fiat funds do not constitute deposits or electronic money under Danish or EU law and are not protected by any deposit guarantee or investor compensation scheme. Cryptoassets are not safeguarded or insured, and clients bear the full risk of loss.

 

Cryptoasset services are not regulated by the UK Financial Conduct Authority (FCA). Clients will have no recourse to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).

 

Cryptoassets are volatile investment instruments that carry a high degree of risk. The value of cryptoassets can go down as well as up, and you may lose the entire amount invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. If necessary, seek independent financial advice.

 

GCEX’s products and services are intended for professional and institutional clients only and are not marketed to retail clients in the United Kingdom.

 

The information on this website is provided for information purposes only and does not constitute investment advice or a solicitation to buy or sell any financial instrument or virtual asset.

bottom of page