Summary: Two of the top investment firms, JPMorgan Chase and Goldman Sachs, are telling their clients to steer clear of Bitcoin (BTC), according to one American wealth manager. Adam Pokornicky, chief operating officer at Digital Asset Investment Management (DAIM), a U.S.-registered investment advisor for digital assets, claimed his firm almost lost a client due to the......
Data provided exclusively to crypto analytics firm Flipside Crypto shows that Binance and OKEx paid large fees for Ether (ETH) withdrawals when the Bitcoin price crashed to $3,600 on March 13, a day dubbed as “Black Thursday” among investors in the cryptocurrency market.
At the time, the Bitcoin (BTC) price dropped by around 50 percent in a single day, causing the price of Ether to plunge to as low as $85 across major exchanges.
As an unprecedented cascade of liquidations pushed the entire market downward in a short period of time, requests for withdrawals on exchanges also surged as investors began to demonstrate a high level of fear.
Amidst all the panic, Binance and OKEx, two of the largest crypto exchanges paid, higher than the average price of "gas"—a term used to describe fees paid on the Ethereum blockchain network to transfer data or payments—to seamlessly process user withdrawals.