Hong Kong-based Babel Finance announced on Monday it has reached “preliminary agreements” on debt repayments to counterparties following a redemption and withdrawal freeze instituted last Friday. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A preliminary restructuring of the debt repayment period has “eased” the company’s short-term liquidity…
The decentralized autonomous organization (DAO) behind Solend, a Solana-based lending protocol, overturned Sunday’s governance vote that would have allowed it to take control of a wallet at risk of liquidation. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts Solend DAO on Monday voted to overturn Sunday’s decision that…
Dogecoin (DOGE) has gained 11% since billionaire Elon Musk said that he would continue to support and buy the cryptocurrency. See related article: Bitcoin, crypto return to red after rate hike rally wears off Fast facts According to CoinMarketCap data, the memecoin was up more than 12% in the past 24 hours to US$0.05788 on…
BlockFi CEO Zac Prince Thursday said the U.S.-based crypto lender foreclosed on a “large client that failed to meet its obligations” following reports that BlockFi was part of the lenders group that canceled some US$400 million in loans made out to Three Arrows Capital (3AC). See related article: Client accuses Bitcoin, Ethereum backer Three Arrows…
Huobi Thailand will shut its cryptocurrency trading platform’s Thailand unit on July 1 after the country’s Securities and Exchange Commission (SEC) revoked its license. See related article: Can Thailand emerge as a ‘crypto-positive’ travel destination? Fast facts Huobi Thailand said the firm will no longer have any connections or legal bindings with Huobi Group following…
Top blockchain and crypto news: Cryptos sink as inflation rises. Celsius freeze sends CEL token tumbling. Are Inner Mongolia’s miners catching a break?
Crypto markets posted some gains in Asia trading after a pummeling this week, but the sentiment shifted back to negative as markets across the board try to second-guess the Federal Reserve’s thinking on interest rates.
TRON DAO announced it has added US$500 million in USDC to its reserve to bolster its algorithmic stablecoin’s dollar parity, but USDD has been off its peg to the greenback for about two days. See related article: Michael Saylor, MicroStrategy stick to their guns on Bitcoin Fast facts See related article: Bitcoin, Ether bear brunt…
TRON founder Justin Sun on Monday said he will set up a US$2 billion fund to support the dollar peg of the project’s stablecoin USDD and “fight” against short sellers, after the stablecoin’s price fell to US$0.97. See related article: Binance resumes Bitcoin withdrawals Fast facts USDD uses an algorithmic mechanism to keep its dollar…
CEL has dropped 53.1% over the past 24 hours and was trading at US$0.20, at press time, according to CoinGecko. Fast facts Crypto staking and lending platform Celsius Network paused user withdrawals, swaps, and transfers on Monday, citing “extreme market conditions,” driving its native token to shed more than half of its value. The lending…