Day: June 13, 2022

Binance Resumes Bitcoin Withdrawals After Pause

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MicroStrategy Could be Forced to Add More Bitcoin Collateral for its Loan if BTC Drops Below $21k

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Summary: Bitcoin’s drop to a local low of $22,600 has rekindled discussions surrounding MicroStrategy’s possible margin call on its $205 million loan if Bitcoin drops below $21k. However, MicroStrategy’s CFO had in early May clarified that the company was ready to post more Bitcoin collateral for the loan. Michael Saylor had also pointed out that the company could post some other collateral besides Bitcoin if the price of BTC fell below $3,562. Bitcoin has had a tumultuous weekend rolling into the new week after a substantial drop in value from…

BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

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The United States equities markets extended their decline to start the week on June 13. The S&P 500 hit a new year-to-date low and dipped into bear market territory, falling more than 20% from its all-time high made on Jan. 4.  The cryptocurrency markets are tracking the equities markets lower and the selling pressure further intensified due to the rumored liquidity crisis of major lending platform Celsius and traders possibly selling positions to meet margin calls. This pulled the total crypto market capitalization below $1 trillion. Daily cryptocurrency market performance.…

Floor price of popular NFT collections collapse due to bear market

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It appears there is no respite anywhere in the crypto realm in the face of Monday’s extraordinary market sell-off. Based on data from NFT Price Floor, the floor prices for Bored Ape Yacht Club (BAYC) and CryptoPunks, two of the most popular nonfungible token, or NFT, collections on the market, have fallen to 74 ETH ($92,223) and 48 ETH ($69,473), respectively.  In comparison, pieces in the BAYC collection had an all-time high floor price of 153.70 ETH, while the same metric amounted to 123 ETH for CryptoPunks. The data aggregator…

New York Lawmakers Pass Bill That Could Ban Certain Bitcoin Mining Operations

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io New York lawmakers have passed a bill that, if signed into law by Governor Kathy Hochul, would ban bitcoin mining operations that use carbon-based power sources to operate.» Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We…

Avaxfi, a Defi Lending Platform, Secures VC Funding From Zen Capital

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Zen Capital is a crypto venture capital fund company that has quietly built a portfolio of promising companies. This crypto venture capital fund is led by a team of entrepreneurs and technologists who believe that the power of decentralized technology can change the world. One of the company’s goals is to work with blockchain entrepreneurs looking to build cryptocurrency platforms that will be relevant for years. Zen capital is a Limited Partner of Pantera Capital. Pantera Capital is the first US institutional asset manager focused exclusively on blockchain technology. Zen…

Binance resumes withdrawals as many retail crypto investors monitor exchanges

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Many social media users seem to be waiting for other crypto exchanges including Coinbase and Kraken to follow in Binance’s and Celsius’ footsteps by suspending withdrawals. Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility.  In an update during what many are calling cryptocurrency’s ‘Black Monday’, Binance said on its website the exchange would be processing Bitcoin (BTC) network withdrawals within “the next couple of hours” following the resumption of activity. The platform announced Monday that it had…

Bitcoin derivatives data shows no ‘bottom’ in sight as traders avoid leveraged long positions

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Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This shows that traders are demanding higher rates to hold their debt instruments and expect inflation to remain a persistent challenge. Louis S. Barnes, a senior loan officer at Cherry Creek, stated that as the United States reported its highest inflation in 40 years, the mortgage-backed securities (MBS) markets had zero buyers. Barnes added: “Stocks are down 2%…

Lawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as ‘Safe’ – Bitcoin News

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A class-action lawsuit against Binance US has been filed in California that alleges the exchange misled investors and sold unregistered securities to roughly 2,000 plaintiffs. The case was filed by the law firm Roche Freedman LLP, a company known for high-profile crypto lawsuits during the last few years. The lawsuit accuses Binance US of marketing terrausd (UST) as a firmly fixed stablecoin tied to the value of the U.S. dollar. Class-Action Lawsuit Filed Against Binance US Over the Terra UST Collapse — 2,000 Plaintiffs Say They Were Misled by the…