According to a report by WSJ, cryptocurrency lender Genesis attempted to obtain a $1 billion loan from investors to prevent a liquidity constraint caused by the impact of the bankruptcy of cryptocurrency exchange FTX. Genesis required the credit by Monday at 10 am EST. Because of “abnormal withdrawal requests which
A little over a week after hitting its previous record low discount to the price of Bitcoin. Grayscale’s Bitcoin Trust (GBTC) struck a new one. YCharts data shows that as of Friday morning, the Bitcoin-tracking investment vehicle was trading at a discount of 42.69%. Introduced in September 2013, GBTC is
A wave of layoffs at Metaplex, a Solana NFT protocol maker, was revealed on Thursday as the Web3 ecosystem continues to be affected by the outbreak brought on by the collapse of the cryptocurrency exchange FTX last week. Stephen Hess, co-founder, and CEO of Metaplex said today through Twitter that
Binance U.S is going to resubmit a bid. After FTX filed for Chapter 11 bankruptcy, the agreement with Voyager fell through. Voyager’s exposure to FTX was $3 million as well. It has been reported that Binance U.S, will recommence its offer to acquire defunct cryptocurrency lender Voyager Digital. As a
Temporarily, Binance has stopped accepting deposits of USDC (SOL) and USDT (SOL) from users. This comes after crypto.com blocked USDC and USDT withdrawals and deposits for Solana. Crypto.com highlighted recent industry developments for the decision. After this news, the price of Solana (SOL) has fallen significantly. The price of SOL
Gemini, a cryptocurrency exchange, said on Twitter that it had a brief service outage today. The exchange informed consumers earlier today that Earn programme lender Genesis was temporarily suspending withdrawals. Gemini outage was struck just hours later, for reasons it called an “Amazon Web Services EBS outage,” which it explained
After Genesis, a troubled crypto lending service halted client withdrawals on Wednesday, prominent cryptocurrency market maker B2C2 decided to help. Max Boonen, the founder of B2C2, tweeted minutes after the trading firm’s statement, “B2C2Group wishes to extend an offer to purchase loans from Genesis Trading’s book to alleviate the current
In order to give complete transparency regarding assets and attempts to repeg TerraUSD (UST), the nonprofit organization Luna Foundation Guard (LFG) that manages the UST algorithmic stablecoin issued a technical audit. LFG seeks to address all claims involving misused money, insiders, holdings cash in other wallets, and monies blocked. A
The entire crypto industry is worrying for the ongoing crypto winter and the crash of the market. Investors community and users are suffering a lot for investing their savings in digital assets. As a matter of fact, Bitcoin is the top leading cryptocurrency which is emerging as legal tender in
In reaction to the news that exchange withdrawals were being frozen, Tether released a brief statement on November 16 stating that it has no risk to interest-bearing Gemini Earn. Or the institutional crypto lender Genesis Global. USDT was hoping to set itself apart from other crypto organizations that were experiencing
