Overexposure to Terra, staked Ethereum, and Grayscale’s Bitcoin trust are blamed. Zhu said that when it came to Terra, he originally saw no warning signs. A Bloomberg interview with Su Zhu and Kyle Davies, the two co-founders of the recently collapsed crypto hedge firm Three Arrows Capital (3AC), has broken
Public Bitcoin miners sold 4,456 BTC in May alone. 3AC owes lenders 18,193 BTC and the equivalent of 22,054 BTC in GBTC. Since May 10, the largest institutions have sold up to 236,237 Bitcoin (BTC), worth $5.541 billion at the time of writing, some often as a result of forced
The exchange said on Wednesday that it had halted all withdrawals. Trade wallet deposits and withdrawals will begin at 17:00 UTC today. Zipmex is preparing to reopen withdrawals and deposits using its Trade Wallet function the day after it had frozen user withdrawals owing to the market’s volatility. They said
Crypto exchanges continue to diminish themselves. Reddit on fire with users raising concerns of various crypto exchanges. Harsh conditions from crypto exchanges to continue till the industry springs back. The entire Reddit forum platform is quite on fire in recent times. This is mainly due to the crypto users who
Teneo released a 1,157-page court petition that included the numbers. 3AC filed for Chapter 15 bankruptcy on July 1 amid all the confusion. Three Arrows Capital (3AC), a crypto lending platform, owes Genesis $2.36 billion, according to court documents from Trustee Teneo. According to court documents, Genesis Asia Pacific Ltd.
The co-founder is said to have filed a $5 million lawsuit. The fund’s investment manager, ThreeAC Limited, has also made a $25 million claim. Starting with 3AC, Voyager, and Celsius, several companies went bankrupt during this crypto bear market’s decline. In contrast to the other platforms, 3AC has been accused
Annual inflation rate exceeds the central bank’s prediction, rising to 7.3%. The price of constructing a new dwelling increases by 18% in a year. According to government data, the annual inflation reached a new 32-year high, increasing from 6.9% in the first quarter to 7.3%. Analysts predicted a 7.1% growth
AAVE’s effort to break above the flag trendline may face strong selling pressure. Aave is down 0.25% in the last 24 hours. AAVE’s bullish momentum may be running out of steam. The price of AAVE has more than doubled in a month. After touching a low of $45.60 on June
Fasset closed a series A financing round for $22 million in April. Global payments firm Mastercard partnered with crypto lender Nexo in April. An alliance between Mastercard, a major global financial services company, and the cryptocurrency gateway operator Fasset aims to broaden the acceptability of cryptocurrency in Indonesia. The collaboration’s
Jatin Mazalcar left Vauld after the crypto lender stopped withdrawals. Vauld halted all withdrawals on July 4th due to the financial difficulties. Vauld CFO Jatin Mazalcar has left the company after the Singapore-based cryptocurrency lender was compelled to cease client withdrawals last week. Mazalcar continued to serve as a consultant
