XP, a major Brazilian broker, is the latest financial firm to provide its customers with crypto trading services. The new cryptocurrency trading platform, XTAGE, launched yesterday, and it allows users of XP’s mobile app to trade Bitcoin and Ether.
The crypto sector’s first $1bn deal, which was announced during the market highs last year and would have seen Galaxy Digital acquire crypto custodian BitGo for $1.2bn, has been terminated. BitGo is now seeking $100m in damages in wake of the failed agreement.
Forecasts from law firm Kirkland & Ellis, which were filed yesterday, show that embattled cryptocurrency lender, Celsius, could run out of cash by October 2022. Celsius reportedly owes depositors $2.8bn more in crypto than it is currently holding.