It’s not often a borrower bails out its lender, especially when it’s to the tune of hundreds of millions of dollars. Alameda Research, the firm founded by crypto billionaire Sam Bankman-Fried that last month extended a $500 million line of credit to crypto broker Voyager Digital, itself owes the company $377 million, according to Voyager’s Chapter 11 bankruptcy filing. It’s…
Bitstamp last week made what the company called a “hard decision” to levy a monthly fee on inactive users with smaller balances. Now it’s walking things back. The Luxembourg-based crypto exchange today announced that after widespread backlash, it’s scrapping the idea. “We have heard the response from our customers,” Bitstamp CEO JB Graftieaux said today in a statement to Decrypt.…
The Financial Services and Markets Authority (FSMA), the Belgian regulator, is seeking comments on its communication on the classification of crypto assets as securities, investment instruments or financial instruments. Aimed at issuers, offerors and service providers, the agency’s communication will serve as guidance to the existing order until European regulatory harmonization is achieved. The communication is meant to address frequently…
The Boring Company opened a transit station in Las Vegas on Friday and announced Dogecoin as a new payment method for using the Vegas Loop system, according to reporting from CNN Business. Boring Company founder and Tesla CEO Elon Musk said in a tweet that he’s “supporting Doge wherever possible,” in response to CNN Business’s story being shared on Twitter,…
Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over the market like a cloud.”…
Crypto mining firm Riot Blockchain said it has begun relocating rigs from its New York data facility, with the majority intended to end up in central Texas. In a Wednesday announcement, Riot said it has transitioned some of its mining rigs from a Massena, New York facility — named Coinmint — as part of an effort to reduce the firm’s…
Sam Bankman-Fried sees the light at the end of the tunnel. Despite the still stormy crypto winter, which has driven Three Arrows Capital and Voyager Digital into bankruptcy filings and left Celsius and BlockFi facing liquidity challenges—the FTX CEO believes the worst of the liquidity crunch has passed, according to Reuters on Wednesday. Meanwhile, Bankman-Fried said his cryptocurrency exchange still…
Bitcoin miners have historically sold BTC as they produced it to cover operating costs. But over the past couple of years a “HODL” strategy has permeated the industry as participants have opted to pay off expenses with debt instead. Miners racked up much bitcoin- and equipment-backed financing to raise a combined $4 billion in capital for daily expenditures as bids…
In this week’s newsletter, read about Binance’s partnership with the most-followed TikToker Khaby Lame. Check out how Vincenzo Sospiri Racing will use NFTs to authenticate car parts and how NFTs will gradually appear on Facebook and other Meta-owned apps. Meanwhile, an NFT licensing platform that aims to connect Bored Ape Yacht Club (BAYC) owners to brands has noted that hundreds…
Bitcoin and select altcoins are making an attempt at flipping key resistance levels, but negative news-flow and selling from BTC miners could continue to weigh on market sentiment. Source: https://cointelegraph.com/news/price-analysis-7-6-btc-eth-bnb-xrp-ada-sol-doge-dot-shib-leo
