Two days ago, Bitcoin.com News reported on the crypto hedge fund Three Arrows Capital (3AC) after reports claimed that the company was allegedly struggling with financial hardship and possible insolvency. Now the crypto firm Finblox is feeling the effects of 3AC’s troubles, and a few digital currency companies have liquidated the hedge fund’s leveraged positions. Speculation Concerning Financial Hardships Tied…
This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH). Trading firm 8…
The total crypto market capitalization fell off a cliff between June 10 and June 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell by 28% within a week and Ether (ETH) faced an agonizing 34.5% correction. Total crypto market cap, USD billion. Source: TradingView Presently, the total crypto capitalization is at $890…
The co-founder and vice president of growth at NFTNYC shared insights into their community-first values and ethos. Source: https://cointelegraph.com/news/nftnyc-expecting-diverse-and-eclectic-audience-to-drive-utility-narrative-of-nfts
United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts to “regulation disguised as staff guidance” and does not adhere…
Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing woes of sudden unemployment. Words of encouragement and sympathy also poured out across Twitter and LinkedIn consoling individuals released from their responsibilities. Some expressed frustration, confusion, and anger…
With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled. Eurozone’s Central Bank to Keep Total Digital Euro Holdings Below 1.5 Trillion A…
The sharp fall in cryptocurrencies has pulled the total crypto market capitalization below $900 billion. According to CoinGoLive, 72 out of the top-100 tokens have declined in excess of 90% from their all-time highs. In comparison, the top-10 coins have outperformed during the fall, dropping an average of 79% from their all-time high. Bitcoin (BTC) is down more than 70%…
Babel Finance has become the latest crypto lending platform to suspend redemptions and withdrawals, the Hong Kong-based company said in a blog post Friday. The firm stated it was “facing unusual liquidity pressures” amid a border crash in cryptocurrency prices, citing a lack of available assets readily on-hand as the basis of its decision to prevent customers from moving money…
Ether (ETH) price is down 37.5% in the last 7 days and recent news reported that developers decided to postpone the network’s migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past 6 years. Competing smart contracts like BNB Token…
