Crypto lender Vauld seeks protection against creditors: Report
The crypto exchange, which is backed by Peter Thiel and Coinbase, halted withdrawals in July following an apparent run on its assets. Go to Source Powered by WPeMatico
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Source claims 3AC’s Deribit exposure is worth much less than reported
The creditors of Three Arrows Capital may be left holding the bag, according to a source who claims the hedge fund’s exposure to Deribit is only worth $25 million. Go to Source Powered by WPeMatico
Report: Equitiesfirst Named as Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender
Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege … Read more
Crypto Biz: 3AC’s founders are nowhere to be found
Liquidators don’t know the whereabouts of Kyle Davies and Su Zhu. Meanwhile, Grayscale’s legal officer says the asset manager’s lawsuit against the SEC could take a while to play out. Go to Source Powered by WPeMatico
Celsius Network’s Token CEL Drops 58% After Bankruptcy Filing, So-Called ‘Short Squeeze’ Falters
During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto … Read more
Voyager can’t guarantee all customers will receive their crypto under proposed recovery plan
The crypto lending firm said that the exact amount reimbursed to users will “depend on what happens in the restructuring process and the recovery of 3AC assets.” Go to Source Powered by WPeMatico
Crypto Biz: Crypto broker goes bankrupt, Bitcoin miner capitulates and China VC funding soars
As the search for an elusive Bitcoin bottom continues, at least one United States miner was forced to liquidate a portion of its holdings in June. Go to Source Powered by WPeMatico
FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light
Some Voyager Digital customers did not understand the scope of FDIC protection for their deposits, leading to questions about the firm’s marketing. Go to Source Powered by WPeMatico
Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Market Like a Cloud’
Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over … Read more
Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.” Vauld Suspends Withdrawals Over ‘Financial Difficulties’ During the last 30 days, a … Read more
