Celsius files for bankruptcy after closing DeFi loans
The embattled U.S. crypto lender wants to continue certain operations during the restructuring process but customers will have to wait for the Chapter 11 proceedings to address their claims.
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Questions over Circle’s USDC reserves linger despite assurances
Fresh claims that emerged over the weekend about the status of Circle’s USDC reserves cast doubts on the ability of the so-called stablecoin to maintain its peg. In a deep dive, Forkast examined the allegations and reached out to the company for its version of events.
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MATIC crypto skyrockets as Polygon joins Disney accelerator
Polygon was selected as one of the 2022 participants for Disney’s accelerator program on Wednesday, triggering the project’s cryptocurrency MATIC to rise by more than 15%. See related article: Aespa, NCT’s SM Entertainment builds metaverse studio Kwangya Fast facts The Walt Disney Company did not announce any of its own crypto projects, but the 2022…
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Why Singapore needs to rethink its approach to regulating crypto
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
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Bitcoin, Ethereum rebound pulls back amid worries of BTC dump from Mt. Gox, Celsius
Gains made by two of the world’s largest cryptocurrencies were partially eroded as speculation of a glut of Bitcoin from Mt. Gox’s customers and creditors and Celsius Network’s payback of its debt circulated over the weekend.
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South Korea’s SK Telecom to build its first Web3 wallet
SK Telecom has partnered with blockchain firms AhnLab Blockchain Company and Atomrigs Labs to develop and operate a digital wallet for cryptocurrency management and Web3 access, the South Korean telecommunications giant announced on Monday. See related article: South Korea’s second-largest conglomerate to issue own cryptocurrency Fast facts SK Telecom said users of its wallet will…
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Celsius lost over US$350 million in DeFi: report
Celsius deployed over US$1 billion of assets in decentralized finance (DeFi) and incurred over US$350 million in losses, according to a report by blockchain analytics firm Arkham Intelligence. See related article: Celsius repays debts, cuts jobs amid bankruptcy fears Fast facts Celsius handed over about US$530 million in corporate funds to an asset manager who…
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Three Arrows Capital collapse sends tremors through crypto industry
Top blockchain and crypto news: Three Arrows target bankruptcy protection. Polium’s Web3 game plan pilloried. China’s tech giants get hands-on with NFTs.
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Three Arrows, Voyager failures raise questions of who is next in crypto fall from grace
The crypto winter is killing off companies that took on big risks when markets were booming. So is this the shakeout all financial markets go through?
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Crypto’s biggest problem is not volatility, but scalability
Notwithstanding this bear market, Web3’s more pressing issue is its inability to handle large volumes, writes Greg Gopman. Can sidechains offer a solution?