Creditors could offload a total of nearly 142,000 bitcoin into an already stressed market.The rehabilitation trustee will restrict creditors in moving funds for a period.Over 700,000 BTC were drained in the Mt. Gox implosion in 2014. Victims of the implosion of bitcoin exchange Mt. Gox are now able to opt between different ways for receiving their bitcoin back: bitcoin itself,…
The temperature seems to have changed for struggling crypto lender Celsius. After keeping client withdrawals, transfers, and swaps frozen for nearly a month—a move Celsius said it took to “stabilize liquidity” in the face of “extreme market conditions”—the company has now fully paid off its $440 million loan. Early on Thursday morning, all in one transaction, Celsius used DAI stablecoins…
The social media and discussion website Reddit has announced the launch of blockchain-backed collectible avatars. The collectible avatars are stored via the Polygon blockchain as the chain was chosen for its “low-cost transactions and sustainability commitments.” Reddit’s Polygon-Backed Digital Avatars Will Soon Be Available to the General Public On July 7, 2022, the staff at Reddit announced the launch of…
Crypto companies are going belly up left and right and Bitcoin mining companies also appear to be taking on water faster than they can bail. In mid-June, Compass Mining CEO Whit Gibbs and CFO Jodie Fisher abruptly resigned after allegations that the Bitcoin mining hardware and hosting company had failed to pay hundreds of thousands of dollars in overdue electricity…
When it comes to nonfungible tokens, or NFTs, the subject is often a hit or miss for traditional gamers. While some players welcome the idea of being able to trade in-game digital collectibles for real money, others lament that NFTs could potentially take away the inherent entertainment built within games. So can NFTs contribute any additional value to traditional games,…
DeFi protocol Aave is planning to launch its very own stablecoin, the project’s founder announced today. “We have created an ARC [Aave request for comments] for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO,” the announcement posted on Twitter by Aave founder Stani Kulechov read. This means Aave’s proposal for a new stablecoin is now…
Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific, and Riot Blockchain in selling part of its Bitcoin holdings. In a Thursday blog post, Argo said it sold 637 Bitcoin (BTC) in June for an average price of $24,500 — roughly $15.6 million. The company planned to use the funds to reduce its debt to Galaxy Digital, from…
In brief U.S. Senator Cynthia Lummis appeared on the latest episode of Decrypt’s gm podcast. She told Decrypt that she’s learning about NFTs from her crypto bill co-sponsor, Democrat Kirsten Gillibrand. U.S. Sen. Cynthia Lummis has been described as the “Bitcoin Senator” and the Senate’s “crypto queen” given her support of crypto assets and attempts to draft legislation regarding their…
A descending triangle pattern has been pressuring Bitcoin (BTC) for the past three weeks and while some traders cite this as a bullish reversal pattern, the $19,000 support remains a crucial level to determine the bulls’ fate. BTC-USD 12-hour price. Source: TradingView Despite the apparent lack of a clear price bottom, Bitcoin derivatives metrics have significantly improved since June 30…
After tapping a 2022 low of $70 billion on June 19, the total value locked (TVL) in decentralized finance (defi) has increased by more than $7 billion. During the last seven days, the TVL in defi held within the Ethereum blockchain has increased by 4.47% as Ethereum’s TVL commands 62.92% dominance or $48.17 billion of today’s $77.11 billion. Meanwhile, Tron’s…
