Similar to the withdrawal panic that plagued many exchanges last year. Nexo, a cryptocurrency lender, is experiencing difficulties after Thursday’s raid of its headquarters. Nexo is reportedly being investigated by the attorney general of Bulgaria. And another 300 investigators from different authorities, as was reported on January 12, 2023. Moreover,
In light of its insolvency, cryptocurrency lender Celsius Network’s mining division has published a notice to sell off mining hardware valued at $1.3 million. Celsius said on January 11 that it will be selling 2,687 MicroBT M30S ASIC rigs to investment company Touzi Capital in a petition with the United
The popular cryptocurrency wallet platform MetaMask has released a staking beta in conjunction with Lido and Rocket Pool. The newly created protocol for users who want to stake Ethereum directly from MetaMask will enter public beta testing soon. According to the release, the Web3 community has shown an increased interest
Creditors of Singapore-based cryptocurrency lending platform Hodlnaut have rejected the company’s suggested restructuring plan and instead demand liquidation of the platform’s assets. The group of creditors did not approve of a restructuring proposal. That would have kept the present board of directors in place throughout the transition period. Reports from
WonderFi, will provide access to decentralized and regulated centralized crypto platforms and is focused on defining the future of finance. And they revealed that it is in preliminary talks with another Canadian crypto exchange Coinsqure about a prospective merger. An official announcement is to issue in the coming days. Bloomberg
The Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the United States District Court of Southern District of New York on Monday against the “Mango Markets exploiter” Avraham Eisenberg for indulging in illicit market manipulation. This is the first time CFTC will charge an illegitimate trader with
Mycelium, a Web3 ecosystem comprised of many products, recently revealed that price feed problems had caused losses in one of its liquidity pools. Additionally, the IP address of the protocol was blacklisted by the Binance API component. Team members from Mycelium issued a statement on January 7th, 2023, saying that
Moody’s downgrade and Ark Invest selling off of Silvergate Bank’s shares indicate deteriorating conditions at the financial institution. There was a run on the bank and it has been linked to the FTX crash. Ark Invest, Cathie Wood’s investment vehicle, reportedly sold more than 400,000 shares of parent firm Silvergate
Digital Currency Group (DCG), Genesis Global’s parent business, has chosen to shut down its wealth section hours after word of the layoffs spread. Genesis has been experiencing significant liquidity difficulty since the FTX crash, and this is the latest hint of concern. A spokesman for Digital Currency Group (DCG) stated
The founder of the cryptocurrency-focused firm Celsius Network, Alex Mashinsky, was named in a civil lawsuit. Brought by the state of New York’s attorney general on Thursday. The lawsuit accuses Mashinsky of planning to swindle hundreds of investors. By persuading them to deposit billions of dollars’ worth of digital assets
