Day: June 23, 2022

Are Small Cap Crypto Assets Rebounding A Sign Risk Appetite Returning?

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The crypto market just saw some slight recovery, but the performances are upside down. Opposite to the way sellouts usually play out, the Bitcoin dominance dropped dramatically as the asset is underperforming the Small Cap index. From last November’s $3 trillion market cap, the crypto market is now down to around $800 billion: Crypto total market cap down to $879.871 billion in the daily chart | Source: TradingView.com Smaller Altcoins Make A Strong Comeback Last week the crypto market saw its bottom, followed now by some slight recovery. As per…

Alameda Ventures Bails Out Voyager With $200M & 15K BTC

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Apparently, Voyager Digital is out of the woods. The company ran into liquidity issues when Three Arrows Capital failed to pay a huge loan to them. Welcome to another chapter of the crypto death spiral caused by the Terra/ Luna collapse. Who came to the rescue this time? Sam Bankman-Fried’s other company, Alameda Ventures. Is this man bailing out crypto or is he taking total control of the industry? In a recent press release, Voyager Digital announced that it “entered into a definitive agreement with Alameda Ventures Ltd. related to…

Bitcoin Slips to Nearly $20K, Citi Sees 50% Chance of Recession

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APRIL WILL BE A BIG MONTH FOR CRYPTOCURRENCY (HERE’S WHY)

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Canada’s Ontario Regulator Bans Crypto Exchange Kucoin, Fines Bybit

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Canadian state regulator, the Ontario Securities Commission (OSC), has taken enforcement action against two cryptocurrency exchanges, Bybit and Kucoin, for not complying with local regulations. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. The OSC issued a warning on March 29, 2021, to the unauthorized crypto exchange in the state to contact the regulator or face enforcement action. However, both exchanges continued to operate in the Canadian state without approaching the regulator…

Crickets on day 1… but Proshares short Bitcoin ETF volume up 380% on day 2

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The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two. On launch day June 21, the ProShares Bitcoin Short Strategy Exchange-Traded Fund (BITI) traded a lackluster 183,300 shares which ETF analyst at Bloomberg Eric Balchunas noted in a tweet was “less than 1% of the volume $BITO had at this time on Day One.” However the next day’s trading volume jumped nearly four times to 886,200 shares worth about $36.2…

Nexo hires Citibank to advise on acquisitions during market turmoil

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Crypto lending platform Nexo, says that its strong balance sheet means it can ride to the rescue to provide liquidity during the current market turmoil by acquiring the assets of struggling crypto firms.  In a blog post, Nexo announced that it is currently receiving advice from banking giant Citigroup on how best to acquire the assets of insolvent crypto firms so that investors can regain access to blocked funds. Last week Antoni Trenchev, co-founder and managing partner at Nexo, told Bloomberg that the current crypto crash reminds him of the…

Voyager’s 60% share price plunge leads sea of red for crypto stocks

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A 60% plunge of Voyager Digital’s (VYGVF) share price since it disclosed its Three Arrows Capital (3AC) exposure has been accompanied by further falls in crypto industry stocks. According to data from trading view, VYGVF plunged as much as 60% during regular trading hours on June 22 before closing at $0.5998 to mark a drop of 50.84% for the day. The sharp drop followed Voyager Digital disclosing that the potentially insolvent Three Arrows Capital (3AC) owes the company 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) worth around roughly…

Cardano Vasil Hard Fork Postponed to Allow for More Testing – Blockchain Bitcoin News

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A The Input-Output Global (IOG) team has said it will postpone sending the Vasil hard fork update proposal because it still needs to solve seven outstanding bugs that are currently ranked as non-severe. While acknowledging that the news will likely be disappointing for some, the IOG team insisted it was “taking an abundance of caution to ensure that we do this deployment correctly.” More Time Needed The core Input-Output Global (IOG) team working to facilitate a Cardano Testnet upgrade announced recently that it had “agreed” to delay sending the Vasil…

A ‘very ambitious’ $100M Metaverse R&D hub is being built in Melbourne

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Thailand-based metaverse startup Translucia Global Innovation has partnered with the Australian software development firm Two Bulls and set aside an initial budget of $100 million to build a Metaverse Research and Development Center (MRDC) in Melbourne. Translucia is a subsidiary of art and entertainment company T&B Media Global, which in October 2021, launched its Translucia Metaverse project, with a first-stage investment of $283 million for the virtual world. Now, T&B are partnering with Two Bulls to build the MRDC to bring the project to life with a slated soft launch for…