a large crypto lender for institutions called #BlockFills has apparently blown up levered long - sorry, i mean "temporarily halted withdrawals"
maybe a good time to remember last year when the chairman of #IBKR said a 35% drawdown in bitcoin prices would cause at least a few traditional brokerages to collapse (bitcoin is down almost 50%)
#crypto #bitcoin #cryptocurrency #finance #stockmarket #economics #econ #susquehanna
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MicroStrategy margin calls incoming at IBKR (AKA "the world's largest financial products trading platform")... which in turns means bitcoin margin calls are coming (MSTR is a pot of bitcoins masquerading as a company, not an actual corporation).
The chairman of IBKR has recently expressed legitimate fear about a big move in bitcoin prices causing a ripple effect and destroying multiple financial institutions: https://universeodon.com/@cryptadamist/113649421774399858
#MSTR #IBKR #MichaelSaylor #MicroStrategy #Bitcoin #BTC #crypto #Cryptocurrency
The chairman of #InteractiveBrokers (#IBKR) says in this interview on #Bloomberg ca. 10:00 that margins on bitcoin trading accounts are becoming increasingly large and unstable and he's "sort of scared of cryptos". Specifically he's concerned that a sudden 30% move in the price of bitcoin would bankrupt an incredible number of people, including a bunch of financial firms which could cause a ripple effect and take out some clearing houses. Bear in mind that IBKR is on many metrics the largest electronic trading platform in the United States. You can trade stocks, bonds, options, etc. (and bitcoin). In other words this guy has seen the data and he found it Very Concerning. https://www.bloomberg.com/news/videos/2024-12-11/thomas-peterffy-talks-trump-m-a-cryptocurrencies-video #bitcoin #crypto #cryptocurrency #IBKR #stockmarket #markets #finance #financenews #BTC
The chairman of #InteractiveBrokers (#IBKR) says in this interview on #Bloomberg ca. 10:00 that margins on bitcoin trading accounts are becoming increasingly large and unstable and he's "sort of scared of cryptos". Specifically he's concerned that a sudden 30% move in the price of bitcoin would bankrupt an incredible number of people, including a bunch of financial firms which could cause a ripple effect and take out some clearing houses.
Bear in mind that IBKR is on many metrics the largest electronic trading platform in the United States. You can trade stocks, bonds, options, etc. (and bitcoin). In other words this guy has seen the data and he found it Very Concerning.
#bitcoin #crypto #cryptocurrency #IBKR #stockmarket #markets #finance #financenews #BTC
Interactive Brokers Chair Thomas Peterffy discusses his expectations for a second Donald Trump administration, his firm’s growth prospects, and why he is “sort of scared of cryptos.” He speaks with Sonali Basak from a Goldman Sachs Group Inc. conference. (Source: Bloomberg)