Leading non-fungible token (NFT) marketplace OpenSea reportedly blacklisted some major NFT collections valued at over $27 million. However, many users have criticized the platform for not carrying out due diligence when marking an item as stolen. The Cost of OpenSea’s NFT Blacklisting According to this Dune Analytics dashboard created by on-chain sleuth beetle, several token...Read More
Luxembourg-based crypto exchange Bitstamp has revealed that it will no longer move forward with its plans to charge inactive customers about 5% of their account balance. Bitstamp Announces Inactivity Fee The exchange announced last week its plans to charge inactive customers outside the United States a monthly fee of 10 euros ($10.18) starting August 1....Read More
Galaxy Digital CEO Mike Novogratz shared his latest insight on the state of the crypto market in an interview with CNBC, predicting that it is close to the bottom after massive leveraged positions were liquidated. However, choppiness may persist in the short term until a bullish narrative reverses the overall sentiment. “$13K BTC?” When asked...Read More
Failed cryptocurrency exchange Mt. Gox has provided an update on its repayment procedures under its creditor rehabilitation plan. The exchange states that the “Rehabilitation Trustee” – Nobuaki Kobayashi – is preparing to make his repayments in line with the exchange’s approved rehabilitation plan. Kobayashi published an accompanying report related to both repayment procedures and his...Read More
American social media platform Reddit has launched a new blockchain-based marketplace and a collection of collectible avatars. They can be used as profile pictures and purchased for a fixed price ranging from $9.99 to $99.99. “In this series, Collectible Avatars are limited-edition avatars made by independent artists, in partnership with Reddit, and provide owners with...Read More
Ethereum is prepping for the much-anticipated Merge. Delays and setbacks aside, the total value locked in ETH 2.0 deposit contract continues to record new highs. As of July 5, the number of staking ETH 2.0 deposit contract addresses exceeds 13,000,000. However, a vast majority of Ethereum 2.0 stakers are now firmly underwater on their position....Read More
LUNC & LUNA prices along with UST prices began to tank a couple of days before which appears to have approached a crucial phase presently. LUNA price broke out from the bullish pattern, while LUNC price is on the verge to tank below $0.0001 levels very soon. While the stablecoin USTC also plunged heavily by...Read More
The UK-based cryptocurrency mining firm – Argo Blockchain – mined 179 BTC last month. However, due to the current market conditions and its loan agreement with Galaxy Digital, the company had to sell 637 BTC at an average price of around $24,500. More Sellings Than Production In September 2021, Argo Blockchain secured a $25 million...Read More
[PRESS RELEASE – Victoria, Seychelles, 7th July 2022] Bitwells, the leading crypto derivatives exchange, has launched a 100% deposit match for new signups. The programme will reward traders who deposit up to 10 BTC with a corresponding bonus amount. A total of 777 BTC has been set aside in a funding pool and allocated for...Read More
Genesis Trading confirmed its exposure to bankrupt hedge fund Three Arrows Capital (3AC). In a series of tweets, its CEO Michael Moro revealed that the cryptocurrency lender and broker had mitigated its losses. The executive said that Genesis sold collateral and hedged its downside after 3AC failed to meet a margin call in June. Moro...Read More
[PRESS RELEASE – Majuro, Marshall Islands, 6th July 2022] Gate.io has announced it will commence another proof-of-reserves audit to provide user verifiable reserves data through a Merkle tree implementation audited by a leading third-party firm, after several high-profile bankruptcies in the space. In 2020, as the first cryptocurrency exchange in the world to commit to...Read More
In the latest interview with Reuters, FTX CEO Sam Bankman-Fried (SBF) revealed the amount of financial ammunition still available for saving companies with drained liquidity from collapses. Meanwhile, he laid out his criterion for picking companies considered worth to be saved. SBF’s Bailout Strategy To fulfill his promise of leading the rescue program for struggling...Read More
Tesla and SpaceX CEO Elon Musk continues to show support for Dogecoin, with one of the billionaire’s firms, The Boring Company, allowing customers to pay for Loop rides with the memecoin. According to CNN on Wednesday (July 6, 2022), The Boring Company, an infrastructure, and tunnel construction firm, first announced the dogecoin payment option on...Read More
So are you going to buy a Lambo or Ferrari with your crypto-millions? You might think your chance to get rich from crypto has gone with the current bear market in full swing—but that isn’t really the case. There’s still a ton of cash to be made in crypto. You just have to know where...Read More
Crypto trading firm Cumberland weighed into the ongoing trend of centralized digital asset firms falling apart amid a deepened liquidity crisis clouding the industry. It suggests that the overall market’s immediate recovery partially hinges upon whether the distressed assets could be transferred from insolvent firms to solvent ones. Crisis Not Over Yet When a prolonged...Read More
