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Crypto Exchange Collapses Bring Market Rebound Hopes, But Hidden Risks Lurk

Guavy AI Editorial Team
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The crypto market has been hit by two major exchange collapses in recent days. BitMEX announced its shutdown last week, and just three days later, BitMart revealed it would be winding down its business.

Crypto leaders have weighed in on the situation, with some attributing the closures to the ongoing bear market. Tom Lee of Fundstrat Capital said that exchange shutdowns typically occur when crypto asset prices are at their bottom.

Binance founder Changpeng Zhao (CZ) also commented on the situation, describing the closures as 'organized business closures' and warning about hidden cybersecurity risks following acquisitions.

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