El Salvador has been making headlines recently as rumors swirl that the country may be on the brink of financial insolvency due to heavy losses in Bitcoin.

The host of CNBC’s Mad Money show, Jim Cramer, has advised investors to sell their cryptocurrencies following the collapse of crypto exchange FTX. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He said Monday:

Bitcoin’s market capitalization has been above the $325 billion region since Nov. 29, 2022. At the time of writing, bitcoin’s (<a href="https://markets.bitcoin.com/crypto/BTC" target="_blank">BTC</a>) overall market valuation is around $328 billion, which represents around 38.3% of the crypto economy’s entire $856,947,917,107 market cap.

Speaking with Daniela Cambone of Stansberry Research, the CEO of Online Blockchain Clem Chambers <a href="https://www.youtube.com/watch?v=LC7VdsT3lcw" target="_blank">discussed</a> whether the worst was over for Bitcoin’s price. Chambers said:&nbsp;

With the inclusion of In-Scope Assets lent to customers through margin and loans which are overcollateralized by Out-Of-Scope Assets, Binance was 101% collateralized.

The FBI today arrested and charged the co-founder of blockchain event startup Blockparty for swindling $1 million in cash and crypto from the company to spend on luxury goods.&nbsp;

Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) price crashed to $15,500 on Nov. 21, driving the price to its lowest level in two years. The 2-day-long correction totaled an 8% downtrend and wiped out $230 million worth of leverage long (buy) futures contracts.&nbsp;

Bitcoin was consolidating on Wednesday, as the U.S. dollar continued to strengthen versus several G7 currencies. A strong dollar means demand for cryptocurrencies typically plummets, with the global market cap trading in the red as of writing. Ethereum was also lower today, falling as it remained below $1,300.

According to on-chain data, around 200,000 BTC worth $3.4 billion and more than 1 million ETH left various centralized cryptocurrency trading platforms, which makes it the biggest migration of funds from CEXes since 2021. Such a tendency is an indicator of a number of things.

Fir Tree Capital Management has filed a lawsuit against Grayscale Investments demanding information that could be used to force changes to the way it runs its flagship Bitcoin Trust. According to Bloomberg, a Dec. 6 complaint was filed against Grayscale at the Delaware Court of Chancery and seeks to have Grayscale lower its fees, start redemptions and hand over documents relating to its relationship with the Digital Currency Group. (Cointelegraph)