The report by short-selling firm JCapital Research led to HUT sliding more than 23% on Jan. 18.

Nexo has accused the country of making "wrongful and politically motivated actions...involving unjustified and oppressive criminal investigations."

Some former customers of the crypto exchange have reported receiving an email asking for confirmation of identity and account details on the mtgoxi

Experts said newcomers in the bitcoin investing game could be enticed by Grayscale, the incumbent with a huge lead.

The exchange said that it will compensate impacted users within 72 hours.

The funding round was co-led by Blockchain Capital, Maven 11 and Distributed Global and included contributions from Coinbase Ventures, Placeholder

The bitcoin ETF catalyst that pushed the ecosystem out of its crypto winter last year will disappoint investors in 2024, the report said.

BTC's price has fallen since bitcoin ETFs were approved.