Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto
After a short-lived recovery, Bitcoin, Ether and other cryptocurrencies are trading lower on fears of a contagion risk from a possible financial implosion at Three Arrows Capital.
-
-
Hong Kong to research retail CBDC cybersecurity with Israel, BIS
The Hong Kong Monetary Authority (HKMA) announced a joint research project with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre to study cybersecurity issues in retail central bank digital currencies (CBDCs). See related article: Hong Kong now exploring retail CBDC in upcoming Project Aurum Fast facts…
-
NFTs in China must be reviewed: China media watchdog
Digital collectibles in mainland China will enjoy copyright protection only after a review, National Press and Publication Administration blockchain copyright director Liu Tianjiao said. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts See related article: China-run media outlet criticizes NFT platform as a payment risk
-
Tether market cap shrinks below US$70B, lowest since October 2021
The market capitalization of Tether, the world’s largest stablecoin, has dipped to an eight-month low of US$69.4 billion, according to CoinGecko data. See related article: Tether, USDT market cap has dropped by US$10B since UST collapse Fast facts Tether’s market cap has fallen almost US$3 billion since June 14 as investors pull out in a…
-
Elon Musk faces possible class-action lawsuit over Dogecoin losses
Keith Johnson, a U.S. investor in the Dogecoin cryptocurrency, has filed a US$258 billion class-action lawsuit against Elon Musk and two of the companies he heads, alleging illegal behavior to manipulate the memecoin’s price. See related article: What is the real value of joke coins like Dogecoin and SHIB? Fast facts The lawsuit alleges: “Since…
-
USDC operator Circle introduces new Euro Coin stablecoin
USD Coin (USDC) creator Circle announced on Thursday it will release the Euro Coin (EUROC), a redeemable stablecoin pegged to the euro, on June 30. See related story: US$500 mln in USDC added to TRON DAO USDD reserve Fast facts Ethereum-based EUROC will join Circle’s USDC, which is the world’s second-largest stablecoin with over US$54…
-
BlockFi among those that foreclosed on Three Arrows Capital: report
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…
-
Bitcoin, crypto return to red after rate hike rally wears off
Thursday’s crypto market recovery was short-lived as most major tokens fell by at least 7% in the past day, with Bitcoin trading within reach of US$20,000 for the first time since December 2020. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts The world’s largest cryptocurrency fell up to 10%…
-
Huobi closes Thai crypto unit, regulator revokes license
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…
-
Client accuses Bitcoin, Ethereum backer Three Arrows Capital of misappropriating funds
The crypto hedge fund got called out on social media Thursday for allegedly misappropriating US$1 million to cover risks of insolvency.