Bookmarking Crypto Insights
Auto Added by WPeMatico
The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains $250 Million Revolving Credit Line From FTX After Crypto Lending Firms Struggle … Read more
It’s been eight days since Celsius Network Halted Swaps, Transfer, and Withdrawal, citing extreme market conditions. This came as the Crypto Market was experiencing a massive sell-off that saw Bitcoin hitting $17k low levels. Celsius had reportedly stopped users from withdrawing from the network, which caused some uproar in the community as many investors feared … Read more
Risk-averse BTC derivatives traders throw in the towel after futures contracts trade below the spot market price. Go to Source Powered by WPeMatico
SBF also rejected rumors that Alameda played a part in jeopardizing the stability of Celsius, noting that “this is definitely false. We want to help those we can in the ecosystem, and have no interest in hurting them.” Go to Source Powered by WPeMatico
BnkToTheFuture co-founder Simon Dixon has proposed a recovery plan similar to the solution offered to Bitfinex after its Bitcoin hack in August 2016 – allowing customers to be compensated for their losses through tokens tied to the platform’s recovery. Go to Source Powered by WPeMatico
During the last week, while crypto markets got hammered, digital currency-centric over-the-counter (OTC) trading desks were swamped with orders. The cryptocurrency OTC trading desk Cumberland, a subsidiary of DRW, explained that on June 13, the firm saw 30% more volume than the previous year-to-date high on May 13. Cumberland Says ‘On Big Swings, More Volume … Read more
A 2018-like bearish cycle could have Ether drop toward $420 in the coming weeks. Go to Source Powered by WPeMatico
BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market. Go to Source Powered by WPeMatico
The billionaire crypto investor admits there are still hard times ahead for most financial markets, but says that as long as the crypto space produces new tech, it will be fine. Go to Source Powered by WPeMatico
The MakerDAO decided to cut off Aave from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of stETH. Go to Source Powered by WPeMatico
