The hobbled crypto lender released a transparency report for the quarter, which detailed its financial position amid the turmoil. In addition to $1.8 billion in outstanding loans, BlockFi’s net exposure amounted to $600 million. BlockFi’s Q2 Results As of June 30th this year, the company’s outstanding loans to institutional borrowers were approximately $1.5 billion. On...Read More
Taiwan’s Financial Supervisory Commission (FSC) believes cryptocurrencies are risky and speculative assets. As a result, the regulator intends to prohibit the use of credit cards for crypto purchases. Taiwan to Ban Credit Card Crypto Purchases According to local reports, the FSC sent a letter to Taiwan’s Association of Banks earlier this month, asking credit card...Read More
Though Ethereum’s long-awaited Merge upgrade is on the horizon, it’s far from the last developmental milestone on the smart contract platform’s roadmap. Crypto analyst Miles Deutscher recently published a Twitter thread explaining the five key phases the network must move through before reaching completion. The Merge and the Surge The five developmental phases – as...Read More
When the data of Bitcoin mining difficulty is considered, there is a drastic drop from July 2021. As per the data, yesterday, on July 22, the Bitcoin mining difficulty has seen a drop of nearly 5%. This significant drop has in turn reduced the competition between miners for rewards. The same percentage of decline was...Read More
Famous American financier Anthony Scaramucci has admitted that having massive exposure to Bitcoin was a mistake in the short run, as he and his investment company suffered significant losses amid the bear market. Bullish on Bitcoin in the Long-term In his latest CNBC interview, Scaramucci noted that while his Bitcoin exposure via his investment firm,...Read More
Twitter announced its Q2 2022 financial results on Friday, revealing lower-than-expected numbers for revenue, earnings, and user growth. When naming reasons for the slowdown, the company placed partial blame on Tesla CEO Elon Musk for casting uncertainty on their acquisition deal. Twitter’s Q2 Figures According to Twitter’s press release, the company’s revenue decreased by 1%...Read More
Nowadays the crypto space reminds the Wild West with a lot of clandestine dealings happening here and there. It is getting more and more complicated to find a decent project with a smart team eager to create something exclusive in the space, instead of being a copycat and doing what everybody else is doing. Unfortunately...Read More
[PRESS RELEASE – Please Read Disclaimer] Most significant headroom expected in emerging economies Singapore, July 22, 2022 – Leading global derivatives exchange – Bitget, is pleased to release a joint report with Boston Consulting Group (BCG) and Foresight Ventures. Bitget’s first in-depth industrial report, “What Does the Future Hold for Crypto Exchanges”, dives into the...Read More
Back in 2021, Vitalik Buterin received trillions of SHIB tokens, and even though he burned some, he also kept some with the intention to donate. In one of the burning transaction hashes, Buterin explained: I have decided to burn 90% of the remaining Shiba tokens in my wallet. The remaining 10% will be sent to...Read More
Su Zhu and Kyle Davies – Co-Founders of the distressed cryptocurrency hedge fund Three Arrows Capital (3AC) – explained that accumulative lending agreements and the collapse of the digital asset market are the reasons for the fall of their project. In addition, they said accusations against them of living a lavish lifestyle on the back...Read More
by Brett Tejpaul, Head of Coinbase Institutional, and Elke Karskens, Head of EMEA Marketing We recently won the Best Prime Broker Award in Hedgeweek’s annual European Digital Assets Awards. This success not only underlines the strength of our platform and our integral role within the cryptoeconomy, particularly in terms of further enabling institutional engagement, but...Read More
As part of the broader investigation of fraud, South Korean prosecutors have raided the house of Terraform Labs’ co-founder, Daniel Shin. Bloomberg confirmed a series of raids conducted by the Korean Joint Financial and Securities Crime Investigation Team on crypto exchanges and offices, including the Terra co-founder’s residence and his payment app Chai Corp. over...Read More
Singapore-based fintech platform Cake DeFi has partnered with Razer Silver, a loyalty rewards program for gamers, to provide them with easy access to various crypto assets, including bitcoin (BTC) and ether (ETH). Cake DeFi Partners Razer Silver According to a press release shared with CryptoPotato, the multi-faceted deal will allow Razer Silver gamers to convert...Read More
[PRESS RELEASE – Calabasas, CA, United States, 18th July 2022] ViralCoin, an emerging cryptocurrency project centered around subscription payments and price stability, has revealed details of its novel stabilization mechanism. According to James McLendon, ViralCoin founder, the ViralVault contract utilizes on-chain arbitrage to keep the price relatively stable, regardless of crypto market conditions. “If the...Read More
It appears like the wider cryptocurrency market will close the weekend on a bullish note as the global crypto market is up by 2.15% position at $1.05 trillion. The overall crypto market is flagged green as the leading cryptocurrency, Bitcoin has reclaimed its $23,000 range. Even Ethereum, the second largest cryptocurrency by market cap, has...Read More
One such is the Bitcoin proponent and Blockstream CEO Adam Back, who said CBDCs are worse than bank accounts. In the latest tweet, Back vouched for Bitcoin as an “apolitical, bearer, unseizable money” and argued that CBDCs, on the other hand, are “systems of control.” Bitcoin as Money Back went on to add that the...Read More
This article is part of our new series of crypto research content, produced by the Bitcoin Magazine team and sponsored by BitMEX. To learn more about our wide-ranging partnership with Bitcoin Magazine, click here. Comparing Bear Market Rallies In Bitcoin Magazine’s issue from June 6, Equities Bear Market Unfolding, they highlighted bear market rally comparisons...Read More
On July 21, the U.S. Department of Justice filed an indictment against Ishan Wahi, a former Coinbase manager, and two other individuals for obtaining approximately $1.5 million through cryptocurrency insider trading on the Coinbase exchange. According to the Department of Justice, this is the first case of insider trading in the crypto industry. The defendants...Read More
Aave DAO, the governance arm of the Aave decentralized finance (DeFi) protocol, has swapped $1.6 million worth of its AAVE tokens with $1.13 million in Balancer (BAL) tokens in an exchange for each project’s treasury coin. Aave/Balancer Treasury Swap Proposal The treasury swap followed an on-chain vote on the Aave DAO governance community based on...Read More
