Hodlnaut had $187 million in TerraUSD before it crashed to $0. The company reiterated that it had not placed any assets with Celsius. Hodlnaut, a cryptocurrency lending platform, froze withdrawals, token swaps, and deposits on August 8 citing market circumstances. The troubled company seeks Singapore creditor protection on Tuesday to
BTC dropped below $21k, after reaching $25,135.59 in the previous week. Major altcoins are also witnessing a sudden huge crash. Following a continuous positive surge over July, the global crypto market saw a significant crash on previous days, with a crucial fall of major cryptocurrencies. The unexpected drop in the
DCG, or Digital Currency Group, owns Genesis and is headquartered in New York. Derar Islim, who joined the business in 2020, is filling in for Moro. Some of the largest companies in the market have had to scale down their expansion plans as a result of the ongoing crypto winter
Illicit transaction volumes are down around 15% in the year through to July. Total scam revenue is $1.6 billion so far in the year, 65% less than July 2021. The global crypto market witnessed a tremendous collapse so far this year. The market shrunk below $1 trillion, because of numerous
Due to cash flow problems, the company temporarily halted withdrawals. High Court’s Justice Aedit Abdullah has put a hold on any further legal action. Several cryptocurrency ventures failed because of the weak market and the demise of Terra. Even while some investors had begun leaving the sector when Bitcoin’s price
Hotbit halted a withdrawals, following the asset freeze by legal authorities. Authorities have charged a former employee for criminal activity. The cryptocurrency exchange Hotbit has stated that the exchange suspended all trading, deposits, withdrawals, and funding on its platform. According to the exchange, law enforcement has subpoenaed several senior officials
Ethereum’s speed, scalability, and energy efficiency are all projected to improve. The Ethereum network will be upgraded to ETH 2.0 in September. According to Binance, the world’s largest cryptocurrency exchange by trading volume, the impending September Merge of Ethereum will be supported by the company. Ethereum’s long-awaited transition to a
The firm bought 30 million LUNA in Terra early on and ended up losing. At its peak, the 30 million tokens bought by Hashed were valued around $3.6 billion. Hashed had a $3 billion loss on the Terra investment, according to new information from Bloomberg. According to Simon Seojoon Kim,
DeFi only paid for half of the requested six-month moratorium. Vauld ceased deposits, withdrawals, and transactions at the beginning of July. On August 1, a Singaporean court granted cryptocurrency lending startup Vauld a three-month suspension until November 7, 2022. After receiving demand letters from a few creditors, the judge further
The XRP buyback program is intended to be sold to On-Demand Liquidity (ODL) firms. The use of Ripple’s ODL solution has increased significantly in the last quarter. When Ripple released its Q2 2022 financial report, it revealed that it has been purchasing XRP back from the secondary market. The XRP
