BlockFi receives a $250 million umbrella loan as per CEO Prince. BlockFi revealed early last week that it was cutting 20% of its personnel. BlockFi and FTX have teamed together to provide a new credit line. Cryptocurrency exchange FTX has granted BlockFi a $250 million credit facility, according to CEO
Celsius delivered $10 million of DAI to Compound, making a large payment to the latter business. Compound Finance, a popular interest-earning DeFi business, has received $10 million worth of DAI stablecoin from the lending platform. To put it another way, the corporation paid back 10 million DAI and received 166
Celsius raised $20.46 million from 1039 investors in June 2020. Dixon’s organization came up with a solution that saved consumers approx $72M. BnkToTheFuture and its co-founder Simon Dixon have volunteered to help Celsius by applying the same “financial innovation” utilized in 2016 to preserve cryptocurrency exchange Bitfinex from insolvency. A
Flash loans are a sort of crypto loan often obtained and reimbursed in a single transaction. The attackers could convert 99,976 USDT and 53.2 wBTC into ETH. For the second time in two months, Inverse Finance has been the victim of a pricing oracle manipulation scam that resulted in the
Babel Finance had a loan balance of over $3 billion by the end of 2021. It had a monthly derivatives trading volume of $800 million. Another cryptocurrency lending service, Babel Finance, based in Hong Kong, has been hit hard by the recent market drop. Babel Finance, citing “unusual liquidity pressures,”
Coinbase and Gemini also chose to reduce the number of employees. The platform claims to have tried multiple ways to decrease losses. As a result of exceptionally challenging market circumstances, BlockFi has chosen to lay off 20% of its workforce. Investors and institutions alike have had a difficult time in
Members of the crypto community experienced a “Manic Monday” in the early hours of June 13, 2022, as the price of cryptocurrencies continued to fall. On top of all that, crypto lending giant Celsius said that all withdrawals, swaps, and transfers between accounts would be suspended indefinitely. Insolvency rumors have
In effect, it has drafted an offer to Celsius in the form of an intent letter. Celsius said today that it stopped withdrawals, swaps, and transfers. The Celsius event rattled the crypto industry more than the market-wide weekend slump. The staking and lending platform was criticized for its inability to
The stock market has always influenced cryptocurrency and DeFi tokens. A direct consequence of Amazon’s move will be felt by holders of DeFi tokens that reflect AMZN stock on the crypto market. Amazon’s Stock Break Up On June 6th, the 20:1 stock split went into effect, dividing each existing AMZN
One of Singapore’s fastest-growing Decentralized Finance (DeFi) platforms has secured a crypto license from the Lithuanian Registrar of Legal Entities. It allows the platform to provide and operate crypto custodial wallets in Lithuania and exchange cryptocurrency. When the EU Markets in Crypto-assets Regulations (MiCA) comes into force, Cake’s cryptocurrency registration
