Per a report from Sedaily, the trading arm of Korean startup Uprise has lost of all its clients’ funds. The platform was used by wealthy individuals and institutions to trade crypto futures contracts via an artificial intelligence (AI) tool. Related Reading | Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000 According to the …
Continue reading “How This Company Lost 99% Of Its Clients Funds Shorting LUNA”
Bitcoin has been struggling for the last month and has struggled to hold the $20,000, losing its footing multiple times. Through this time, altcoins, while having followed the digital asset on the way down, had begun to gather momentum through the small recoveries recorded over the last couple of weeks. As July draws in on …
Continue reading “Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000”
Bitcoin has been moving sideways around its current levels with no clear direction on lower timeframes. The cryptocurrency has experienced its worst-selling pressure in years but has held firmly around its 2017 all-time high. Related Reading | Crypto Trading Volumes In India Sink Due To Heavy Taxation, What’s Ahead? At the time of writing, Bitcoin trades …
Continue reading “Bitcoin Approaches 2018 Like Drawdown, Why $20,000 Is A Crucial Level”
Ripple Labs, an American money transfer network and blockchain company, has conducted many tests on its ledger to determine the efficiency and throughput of NFT transactions. On July 6, 2022, the San Francisco-based blockchain company performed several tests on its ledger to identify the throughput for NFT transactions. Ripple loaded its network with more than …
Continue reading “Ripple Test Its NFT Throughput Rate, Its Functionality Exceeds 750 TPS”
A popular analyst is bullish on the short-term prospects of three altcoins despite the gloomy sentiment surrounding the crypto markets. Crypto strategist Michaël van de Poppe tells his 614,500 Twitter followers that leading smart contract platform Ethereum (ETH) appears poised for a quick rally after recapturing a key low timeframe support. “Ethereum needs to break …
Embattled crypto brokerage Voyager Digital is filing for chapter 11 bankruptcy after a prominent borrower defaulted on a sizable loan. In a new press release, Voyager says the firm has commenced a restructuring process after crypto hedge fund Three Arrows Capital (3AC) failed to pay back a loan worth about $650 million. Voyager Digital CEO …
Trading across the cryptocurrency market was relatively subdued on July 5 as the ecosystem continues to digest the fallout from the Three Arrows Capital scandal and Voyager Digital announcing that it has filed for Chapter 11 bankruptcy protection. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has spent the …
Crypto mining firm Riot Blockchain said it has begun relocating rigs from its New York data facility, with the majority intended to end up in central Texas. In a Wednesday announcement, Riot said it has transitioned some of its mining rigs from a Massena, New York facility — named Coinmint — as part of an …
BlockFi appears to be managing damage control as it sent out an email to users Wednesday evening for investors “looking for reassurance in this crypto bear market.” The email confirmed that BlockFi continues to put risk management first while navigating market volatility. Battle-tested and leadership Interestingly, the company that just received a $400 million credit …
Shiba Inu (SHIB) lead developer Shytoshi Kusama has released a new update for the meme coin community on the plans to launch a stablecoin and reward token. SHI stablecoin According to Kusama, the SHI stablecoin won’t be affected by market fluctuations. He admitted that there are now valid concerns about stablecoins following the crash of …
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FTX has “enough cash on hand to do a $2 billion deal if necessary” to help support the crypto industry through difficult times, CEO Sam Bankman-Fried told Reuters. SBF also told CNN that FTX has remained profitable throughout the bear market and should continue to do so. Regarding the bear market playing out within the …
Continue reading “FTX willing to use $2B in cash to bail out crypto industry, stop contagion”
Cryptocurrency miners are considered one of the main drivers of the crypto industry but the latest market downturn has put the profitability of the once-lucrative business into question. Falling crypto prices and rising electricity costs around the world mean miners operate on very tight margins and some might not even be profitable at all, according to …
Continue reading “Crypto mining profitability varies wildly based on location”
A petition to the European Parliament for the creation of a crypto compensation fund is gathering steam following recent scandals, in particular happenings at Celsius Network. The petition organizer, Jonathan Levy, wrote that the EU must create a fund paid for by “taxing” transactions to provide restitution for victims of crypto crime. Although Celsius is …
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Hardware wallets designed to securely store cryptocurrency have seen a several-fold increase this spring in Russia, on the backdrop of currency restrictions introduced amid foreign sanctions. Ledger and Tangem have been the most popular products on the market, a media report revealed. Russians Buy More Hardware Crypto Wallets, Market Players Say Russian crypto users have …
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Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over …
