Many Crypto Platforms Fail While Well-Run Companies Capitalize – Bitcoin (BTC/USD), Visa (NYSE:V)

Uncertainty is dominating the current situation in global markets as concerns of an escalation of war mount.

Russia’s wartime regime continues to bomb all of Ukraine, while Belarus has launched drones killing Ukrainians in Kyiv. Belarus has officially joined the side of Russia in the war, as Belarusian President Alexander Lukashenko said: “Initially, at least 5 Belarusian brigades totaling 10,000 men will be deployed. This is purely defensive as NATO plans to attack us. That will not happen!”

Bitcoin BTC/USD and the S&P 500 fell this morning after it was revealed Belarus was embroiled in the war, but Bitcoin’s drop below $19,200 was quickly bought up.

Many crypto firms are struggling to weather the market turmoil as South Korean firm Blockwater defaults on a $3 million loan from TrueFi. Unfortunately, TrueFi allows crypto borrowers to borrow without using collateral. Blockwater is another example of chaos caused by centralized entities taking on too much influence and risk.

Crypto brokers like GlobalBlock that have been careful and diligent about not adopting leverage have managed to remain healthy businesses. Other examples include Binance and FTX, which CZ says plan to potentially spend over $1 billion on deals this year. FTX also works with Visa v Provide infrastructure for crypto payments in 40 different countries.

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