With various events pointing to a crypto winter developing, it has been a difficult time for cryptocurrency investors and the Web3 space over the past few months. Since the historic collapse of Luna, the digital asset backing $UST, a stablecoin…
Key Takeaways Voyager filed for Chapter 11 bankruptcy on Tuesday. The platform has over 100,000 creditors and about $1 billion to $10 billion in assets. The now insolvent 3AC had defaulted on a $665 million loan to Voyager. Crypto lending…
Key Takeaways Vauld believes suspension would help them facilitate their exploration of the suitability of potential restructuring options, together with their financial and legal advisors. The current market climate has led to a significant amount of customer withdrawals over $197.7…
Key Takeaways BlockFi CEO Zac Prince took to twitter to confirm that the firm is not being sold to FTX. CNBC recently reported that crypto billionaire Sam Bankman-Fried’s FTX was likely to buy BlockFi for $25 million- a 99% discount…
Key Takeaways: Three Arrows Capital plunges into liquidation. The reason behind the insolvency is the recent market crash. A court in British Virgin Islands ordered its liquidation in 29 July 2022. Recently, rumors of insolvency of one of the largest…
Key Takeaways Sam Bankman-Fried, the creator of the well-known exchange FTX, recently cautioned that some cryptocurrency exchanges are “secretly insolvent” and may soon fail. SBF’s companies FTX and Alameda Ventures provided quick credit lifelines to BlockFi and Voyager, respectively. These…
Key Takeaways Roger Ver has rubbished the allegations and stated that CoinFLEX owes him money. Recently, CoinFLEX launched Recovery Value USD (rvUSD) token to raise funds to cover outstanding debts unpaid by a high-profile customer. According to CoinFLEX CEO Lamb,…
Key Takeaways CoinFLEX cited extreme market conditions last week and continued uncertainty involving a counterparty as reasons to halt withdrawals. The firm will also halt all FLEX Coin trading in perps and spot in the short term Crypto exchange CoinFLEX…
Key Takeaway CoinDCX has halted withdrawals citing wallet maintenance and hence making the users concerned. CoinDCX announced that its wallet maintenance is extended until further notice.” We are trying our best to complete the upgrade at the earliest possible and…
Key Takeaways BlockFi lost over US$285,000,000 in the last two years of the bull market. Out of the total loss, $221 million was lost during the 2021 bull run when Bitcoin price reached up to $69k. BlockFi was also among…
