According to reports, Kirkland and Ellis LLP are representing the company. More than 100,000 people were creditors to the company. Several projects have failed as a result of the current market downturn. Recently, the firm put all crypto trading, deposits, and withdrawals on hold. The company filed for Chapter 11
On Monday, the company suspended operations and stopped client withdrawals. Since June 12, withdrawals totaling $197.7 million have been reported by the firm. The Singapore-based crypto lender Vauld has inked a preliminary term agreement with Nexo today. Due diligence on the proposed purchase would be conducted by Nexo within a
CoinLoan said that the safeguards would only be in place for a short period of time. The previous maximum withdrawal limit was $500,000 a day. Currently, CoinLoan has a daily withdrawal limit of $5,000, a 99 percent drop from its former maximum. An increase in money withdrawals necessitated the company’s
DeFi on Bitcoin has a promising future, regardless of whether one uses Rootstock, Stacks, DeFiChain, Portal, or any other solution. More and more apps, products, and services may be created by programmers every day. In the cryptocurrency market, Bitcoin is still the most popular choice for both retail and institutional
Next-generation decentralized finance applications, goods, and services are on the horizon. As they seek to create new projects, developers need to focus on using only the most reliable, secure, and resilient networks. A blockchain-based solution like DeFiChain is intuitive to use along with the many perks and advantages that it
$250 million assets under management (AUM) restriction was breached twice. A slew of companies have come out to reveal their 3AC exposure. According to a notification issued by the Monetary Authority of Singapore (MAS) today, Three Arrows Capital (3AC) furnished the regulator with “false information.” The MAS has stated that
Teneo Restructuring will provide assistance in the process. Crypto broker Voyager Digital also revealed $661 million in exposure to the fund. According to Sky News, a court in the British Virgin Islands has ordered the liquidation of the Singapore-based crypto firm Three Arrows Capital (3AC). Teneo Restructuring, according to the
On Wednesday, the Decentralized asset financing protocol, Centrifuge, officially announced the launching of a new feature called ‘Centrifuge Connectors’ for the users. Centrifuge Connectors is a cross-chain solution which combines the DeFi ecosystem and the Real-World Asset (RWA). This allows the traders to transact across multiple chains. Centrifuge Connecters, a hybrid
Ledger Live has received more than $50 million in gross deposits. Alkemi Network is connecting CeFi and DeFi to create an institution-grade liquidity network. Alkemi Earn joined hands with Ledger Live to make it the first DeFi lending and borrowing app available directly to Ledger users. Ledger is the world’s
Voyager said that it had asked for a partial $25 million USDC repayment by June 24. Alameda has already given Voyager a line of credit to keep solvent. After pledging to prosecute cryptocurrency hedge fund Three Arrows Capital (3AC) for unpaid debt, Voyager Digital has followed through. To put it
