Day: June 17, 2022

Finblox withdrawal restrictions trigger concerns from the community

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In a tweet, Finblox announced that the firm is assessing the effects of 3AC’s situation on its liquidity. While the firm does this, it highlighted that it paused its reward distribution for all of its users and lowered its monthly withdrawal limit to 1,500 USD. Many of the platform’s users were disappointed with the news, sharing their frustrations about not being able to withdraw their funds. On the other hand, community members started calling out Finblox’s 90% Annual Percentage Yield (APY) offer on staking Axie Infinity Shards (AXS) as unsustainable.…

Bear market no issue for Binance Labs’ DeFi incubation program

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Binance Labs, the venture capital and incubation arm of the Binance cryptocurrency exchange, continues its business as usual despite the ongoing bear market. The VC firm is preparing to launch the fifth round of the Most Valuable Builder (MVB) accelerator program, the incubation program designed to support new projects focused on decentralized finance (DeFi) and Web3. Organized in cooperation with BNB Chain, the program looks to provide dedicated support to developers building decentralized apps on the BNB Chain blockchain network by providing incubation and investment. The MVB program was originally…

Bitfrost releases upgraded SALP 2.0 after protocol helped secure $450M via parachain auctions

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On Friday, Bitfrost, a Web 3.0 derivatives protocol that provides decentralized cross-chain liquidity for staked assets, launched the updated Slot Liquidity Auction Protocol dubbed “SALP 2.0.” Projects such as Moonbeam, Unique network, OAK network, Polkadex, etc., held their parachain crowdloans on Kusama and Polkadot via the original SALP. A total of 8,834,746 vsKSM ($439 million) and 3,045,564 vsDOT ($21 million) was minted through the protocol. The SALP protocol works by releasing the liquidity of tokens staked during an auction; liquid derivatives such as vsDOT and vsKSM are issued on a…

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Colombian Financial Superintendence Prepares Norms for Crypto Transactions – Regulation Bitcoin News

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The Colombian Financial Superintendence, the securities and financial watchdog of the country, is working on a document to regulate the transactions and operations made using cryptocurrency assets in the country. The organization announced that it will present the document in the coming weeks, which will issue norms for the treatment of these assets in the Colombian financial system. Colombian Financial Superintendence to Issue Crypto Norms Latam governments are now taking cryptocurrency regulation as a serious matter, as adoption in their countries is starting to reach relevant numbers. The…

Willing All in Assets For Bitcoin Investment In 2017, and Now This Is Family Life

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Bitcoin until now is considered as one of the cryptocurrencies with a bright future, or at least has a stable value to have a hedge against inflation. This makes many people keep Bitcoin as an asset. One of them is a well-known Dutch family, who later dubbed the ‘Bitcoin Family’ for selling all their assets which were then used to buy crypto. Didi Taihuttu as the head of the family is known to sell a number of assets ranging from businesses, houses,…

Employee quits after red flags at first crypto job, stays in blockchain for the tech

Crypto startups have a significant role to play in the development of the entire blockchain industry. However, while many business owners have big ideas that aim to change the world, some fail to invest to develop the most critical aspects of a business, resulting in employees quitting.  After being hired by a crypto startup, Roland Guirdonan from Chad, Central Africa, thought he got lucky as he accepted his first job offer in the crypto world. He later realized that while it seemed like a dream job, it was more of…

GBTC premium hits -34% all-time low as crypto funds ‘puke out’ tokens

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The largest Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC), is now trading at its biggest ever discount to the spot market. Data from on-chain analytics resource Coinglass shows GBTC shares down 34% versus BTC/USD on major exchanges as of June 17. GBTC suffers in market downturn Amid continued turmoil in DeFi spilling over to infect the crypto market, conditions have deteriorated for investors big and small. The latest figures now show that institutions have definitively failed to avoid the contagion, and the already underperforming GBTC has hit new lows.…

Anthony Scaramucci Reveals Buying Crypto During Crash, Suggests Staying Disciplined

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Many crypto investors have sold their assets due to the ongoing market volatility. However, the effects of the crash are still reverberating across all the exchanges and crypto firms. Some lost liquidity and couldn’t sustain users’ demands, while others downsized their staff capacity. Some investors seized the chance to add to their crypto portfolio amid the chaos. An example of such a future-oriented investor is Anthony Scaramucci. Scaramucci has revealed that SkyBridge Capital, his firm increased its ETH and BTC volume during the crash. So when others scrambled to sell…

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