Monthly NFT sales fall below US$1 billion for first time in 12 months
Crypto industry sales are slumping, but it’s not just hedge funds and lenders that have been hit hard by the crypto winter. The NFT industry has also begun to feel the chill.
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CEL soars 17%; reclaims spot in top 100 crypto by market cap
Celsius Network’s cryptocurrency CEL is up 32.1% over the past 14 days leading to Monday in Asia, even as speculation around the lender filing for bankruptcy heats up. See related article: Celsius community adopts GameStop tactics to squeeze out short sellers Fast facts CEL token gained 17% over the past 24 hours, peaking at US$0.94,…
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BlockFi’s deal with Sam Bankman-Fried’s FTX will prioritize clients
The crypto lender signed definitive agreements with FTX US for a US$400 million revolving credit facility that will be subordinate to all client funds. The crypto exchange also has an option to acquire BlockFi for about US$240 million based on performance targets. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts…
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Meitu’s Bitcoin, crypto investments down by over US$50 mln
Hong Kong-listed beauty app Meitu said on Friday it is expecting a net loss of up to 349.9 million yuan (US$52 million) in the first half of 2022, driven by tumbling cryptocurrency prices. See related article: Hong Kong-listed Meitu buys more Bitcoin, now has US$100 million in crypto Fast facts See related article: Software firm…
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Samsung produces 3nm chips that can be used for Bitcoin mining
South Korean tech giant Samsung has started producing chips using its latest 3-nanometer (nm) technology, the company said Thursday. The new chips can be used for Bitcoin mining hardware. See related article: LG to follow Samsung adding NFT features to flagship TVs Fast facts One of the earliest clients for Samsung’s 3nm chips could be…
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Indian crypto trading volume drops as much as 63% after new tax
Trading volume in Indian cryptocurrency exchanges dropped by as much as 63% since July 1, when a 1% tax deducted at source (TDS) was imposed. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts Daily trading volume at cryptocurrency exchange WazirX fell more than 63% on July 1 to US$5.36…
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Three Arrows Capital files for Chapter 15 bankruptcy
Crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy in a federal bankruptcy court in the Southern District of New York on Friday, in hopes to shield its U.S. assets after a court in the British Virgin Islands reportedly ordered the firm into liquidation last week. See related article: Three Arrows Capital…
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EU’s new crypto rule requires stablecoin issuers to hold more reserves
European Union officials agreed to the Markets in Crypto-Assets (MiCA) law on Thursday, placing cryptocurrencies, issuers and service providers under the EU’s first regulatory framework for the industry. The rules are expected to kick in as early as 2024. See related article: European Union to track all crypto transfers Fast facts All stablecoins will fall…
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Roger Ver says he will issue statement on default dispute with CoinFLEX
Early Bitcoin adopter and Bitcoin Cash promoter Roger Ver told Forkast he will issue an official statement before Monday responding to allegations he defaulted on a US$47 million loan in USDC from CoinFLEX. See related article: Roger Ver denies defaulting on US$47 mln loan from CoinFLEX Fast facts Ver told Forkast in a phone interview…
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VanEck files for spot Bitcoin ETF despite Grayscale rejection
Investment firm VanEck has filed an application for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), despite Grayscale’s application getting rejected on Tuesday. See related article: Next step for spot Bitcoin ETF in the US may be a courtroom battle Fast facts VanEck had filed for a spot Bitcoin…