Reasons behind the market drop:
= South Korea’s Digital Asset Protection Foundation Begins Asset Recovery for 40,000 Users Affected by 8 Exchange Closures (5 of them are Apro Korea, Ten and Ten, Hanbitco, Qbit, and Pay Protocol....), This caused some selling pressure (16 Dec 2024)
= FTX to start bankruptcy payouts via Kraken, BitGo from Jan. 3 for users affected by the FTX’s 2022 crash.
= Mt. Gox exchange moved 1,619.678 BTC worth $172 million to two new addresses, Mt. Gox holds 36,085 BTC, valued at approximately $3.84 billion, raising speculation about future sell-offs.
= Bybit end withdrawal and custody services for French users on Jan. 8, 2025, citing regulatory pressures.
