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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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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Will Mt. Gox Bitcoin eruption smother hopes of rapid crypto recovery?
Top blockchain and crypto news: Payback time for Mt. Gox investors. USDC issuer strikes back as critics circle. Chinese bank fiasco hits a nerve.
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Lightspeed launches US$500 mln fund for India, SEA
Lightspeed India Partners (LSIP) announced on Tuesday the closing of a US$500 million early stage fund (LSIP Fund IV) for India and Southeast Asia, as part of venture capital firm Lightspeed Venture Partners’ (LSVP) US$7.1 billion commitment. See related article: Huobi Ventures bets on DeFi and gaming in $10M GameFi fund Fast facts In addition…
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Financial Stability Board calls for high regulatory standards for stablecoins
The failure of a crypto market player may have spillover effects on traditional finance such as short-term funding markets, says the Basel-based international body.
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Voyager crypto refund plan unconfirmed; fiat to be returned in full
Voyager Digital said in a Monday blog update that customers’ USD deposits will be returned in full “after a reconciliation and fraud prevention process” but it has yet to receive the green light on its cryptocurrency refund proposal. See related article: Voyager faces delisting from Toronto Stock Exchange after bankruptcy filing Fast facts Voyager filed…
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Inter-country use key for CBDCs to reach potential: report
For central bank digital currencies to enhance cross-border payments, issuing institutions must take functionality into account to avoid unintended barriers, a joint report by three international financial bodies says.
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Celsius repays over US$113 mln in debt; recovers US$122 mln in collateral
Celsius Network repaid around US$78 million in USDC to Aave and US$35 million in DAI to Compound on Monday, blockchain data on Etherscan shows. See related article: Celsius repays debts, cuts jobs amid bankruptcy fears Fast facts The troubled cryptocurrency lender unlocked at least US$122 million in collateral through its latest set of repayments. Celsius…
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Bitcoin miners in Texas halt operations amid heat wave
Many cryptocurrency miners in Texas, one of the largest Bitcoin mining hubs in the U.S., are halting their operations as the state’s electrical grid faces surging power demand amid a heat wave. See related article: Marathon Digital says Montana storm knocked out most Bitcoin rigs Fast facts Nasdaq-listed miner Core Scientific on Tuesday said that…
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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.