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Never underestimate how quickly things can deteriorate in a sector as volatile as crypto, especially in a bear market. Prices can always go lower in the depts of crypto winter and casualties can multiply overnight. 2022 has been a year of never-ending contagion; with everyone focused on Binance, high-profile (BTC) miners were going bust.
This week, mining company Core Scientific filed for Chapter 11 bankruptcy. Greenridge, another miner, received a $74 million debt restructuring lifeline from New York Digital Investment Group. Bitcoin is the most valuable commodity in a bear market, but miners must keep the lights on.
Bitcoin miner Core Scientific reportedly filing for Chapter 11 bankruptcy
FTX warns it will claw back political donations and contributions
Celsius amasses 30 potential bidders for its assets, withdrawal motion approved
Visa (NYSE:) dreams up plans to let you auto-pay bills from your crypto wallet
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