23:15 Eligible Celsius users can withdraw all 'Distributable Custody Assets' following court approval
ByBit joins crypto exchanges offering crypto lending services Dubai-based cryptocurrency exchange ByBit rolls out cryptocurrency lending service, joining a handful of major exchanges that offer interest-bearing lending facilities. News Own this piece of history Collect this article as an NFT Join us on social networks Cryptocurrency exchange ByBit is the latest major platform to roll out an in-house cryptocurrency lending service for users. […]
Crypto lender BlockFi is granted extra time to file Chapter 11 exit plan BlockFi was granted a 48-day extension by a New Jersey bankruptcy judge to submit an exit plan, exploring a potential sale of company assets and restructuring. News Own this piece of history Collect this article as an NFT Join us on social networks BlockFi, a lender of digital assets, was given additional time to submit […]
US share of global crypto developers fell 26% in 5 years — a16z In 2018, nearly 40% of all crypto developers were based in the United States, whereas in 2022, this figure had fallen to less than 30%. News Own this piece of history Collect this article as an NFT Join us on social networks The share of global crypto developers based in the United States declined by […]
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’
SEC of Thailand wants public feedback on crypto lending, staking ban Thailand's Securities and Exchange Commission (SEC) is preparing to hold a new public hearing on a potential ban on staking and lending services in the country. Thailand’s SEC officially announced on March 8 that the authority is seeking public comments on a draft regulation prohibiting virtual asset service providers (VASPs) from providing or getting involved […]
DeFi lender Tender.fi suffers exploit, white hat hacker suspected An alleged ethical hacker has drained $1.59 million from the decentralized finance (DeFi) lending platform Tender.fi, leading the service to halt borrowing while it attempts to recoup its assets. Web3-focused smart contract auditor CertiK and blockchain analyst Lookonchain flagged an exploit that saw funds drained from the DeFi lending protocol on March 7. Tender.fi confirmed […]
Babel wants to repay creditors via special ‘recovery coins’: Report Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning to build a new decentralized finance (DeFi) project in order to generate revenue to repay debts owed to creditors, Bloomberg reported on March 5. Called […]
Bitcoin leverage ramps up as BTC's margin long-to-shorts ratio hits a record $2.5B high Crypto traders' urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it's impossible to know if these traders are extreme risk-takers or savvy market makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral […]
Hodlnaut founders propose selling the firm instead of liquidation The founders of the troubled cryptocurrency lender Hodlnaut are trying to save the business despite creditors insisting on its liquidation. On Feb. 28, Hodlnaut’s interim judicial managers released the sixth affidavit of Hodlnaut co-founder Simon Lee reportedly stating the company’s founders proposed selling the business as a better option for creditors than liquidating the firm. […]
DeFi ‘fragility’ causes and cures explored in highly technical Bank of Canada study The Bank of Canada has released a working paper that examines lending protocols in decentralized finance (DeFi) with regard to sources of instability and their relation to crypto asset prices. Its findings point to potential ways to optimize DeFi lending platforms, or possibly the practical limits of decentralization. The authors of the paper, titled “On […]
MakerDAO voting on $100M loan participation with Florida commercial bank Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between decentralized finance (DeFi) and traditional finance. As per MakerDAO's governance forum, Cogent Bank, a Florida commercial bank, is proposing to participate with $100 million in loans to MakerDAO's RWA Master Participation Trust. Maker Governance […]
Crypto lender SALT makes comeback with $64.4 million funding The crypto winter and FTX collapse has decimated the ranks of cryptocurrency lenders. Genesis, BlockFi, Voyageur Digital and Celsius Network all filed for bankruptcy in the past seven months, and the contagion may still not be over. But at least one crypto lender appears to be on the comeback trail. SALT Lending, one of the […]
Hodlnaut works with potential buyers to sell firm and FTX claims: Report Troubled cryptocurrency lending firm Hodlnaut is reportedly working with several potential investors to sell its business and other assets. A number of potential buyers have inquired about purchasing Hodlnaut and its claims against the collapsed crypto exchange FTX, Bloomberg reported on Feb. 6. Hodlnaut’s interim judicial managers have received multiple proposals to acquire its Singapore-based […]
Genesis unsecured creditors' committee appointed A seven-member committee has been appointed to represent the interests of unsecured creditors in Genesis Global bankruptcy case, according to court filings on Feb. 4. The committee will represent the creditors in court, having the right to be consulted before major decisions and to participate in the reorganization plan. Members are generally select from a […]
Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like […]
Hodlnaut creditors reject the restructuring plan, prefer liquidation The Singapore-based troubled crypto lender is looking at a possible liquidation as the firm’s creditors have rejected the proposed restructuring plan and seek liquidation of the platform’s assets. The group of creditors rejected a restructuring plan offer allowing the current directors to oversee the firm’s operations during the restructuring phase. However, a Jan. 12 hearing […]
Crypto lender Genesis lays off 30% more staff: Report Crypto lending platform Genesis Global Trading has reportedly cut 30% of its workforce in the second round of layouts in six months. According to a Jan. 5 Wall Street Journal report, Genesis reduced its staff by 30% following the platform suffering losses from loans to Alameda Research and Three Arrows Capital. An update to its […]
Gemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert
INX submits bid for Voyager Digital's assets Trading platform INX has submitted a bid for an undisclosed amount to purchase the assets of crypto brokerage firm Voyager Digital. In a Nov. 30 announcement, INX said it had sent a non-binding letter of intent for Voyager’s assets following the platform filing for bankruptcy in July. According to INX CEO Shy Datika, the bid […]
Gemini gets regulatory greenlight in Italy, Greece amid lending halt Winklevoss brothers’ cryptocurrency exchange Gemini continues expanding in Europe, announcing new regulatory approvals in Italy and Greece. Gemini has registered as a virtual currency operator with Italy’s payments services regulator, the Organismo Agenti E Mediatori (OAM), the firm announced on Nov. 30. The crypto exchange has also received registration as a custodial wallet provider and […]
Southeast Asia and DeFi’s Big Bet on the Unbanked In one of the more striking early scenes from P.T. Anderson’s 2007 film, There Will Be Blood, there is a gas explosion that destroys the drilling rig set up by oil tycoon Daniel Plainview. Noticing one of his employees observing the situation dejectedly, Plainview rebukes the man, saying: “What are you looking so miserable about? […]
