Zhu described the complex network of Three Arrows entities registered in different jurisdictions including Singapore, the British Virgin Islands and the U.S. state of Delaware. As a result of the diffuse structure, the Singapore-based entity – Three Arrows Capital Pte Ltd (TACPL) – may not be able to comply completely with the liquidators’ demands, according to Zhu. Source
As the crypto community tries to navigate the bear market and recover from the onslaught brought about by stablecoin incidents like the Terra crash, another algorithmic stablecoin shows signs of struggle as it falls below its dollar peg. Algorithmic stablecoin Neutrino Dollar (USDN) has deviated from the dollar once again, marking the fourth time that USDN struggled to maintain its dollar peg this year. The Waves-backed stablecoin is trading at $0.90 at the time of writing. Correlation =/ Causation here But every time #USDN from #WAVES has depegged There has…
The Monetary Authority of Singapore (MAS) has started taking measures to prepare for new cryptocurrency regulations addressing the ongoing liquidity crisis and withdrawal issues. Singapore’s central bank has sent detailed questionnaires to some applicants and holders of the MAS’ Digital Payment Token licenses, Bloomberg reported on Friday. Sent over the last month, the questionnaires were reportedly seeking “highly granular information” about business activity and holdings by examined crypto firms. The checks were focused on firms’ financial stability and interconnection, with questions including top tokens owned, top lending and borrowing counterparties,…
Cryptocurrency exchange Binance will suspend deposits and withdrawals of Ether (ETH) and ERC-20 tokens during the blockchain’s transition to its proof-of-stake (PoS) Beacon chain in September. The world’s largest exchange by transaction volume announced the move in a bid to provide stability during ‘The Merge’ which is touted to take place in mid-September 2022. Binance becomes the second major exchange to announce the suspension of ETH deposits and withdrawals, following Coinbase earlier in August 2022. According to an announcement from Binance, the exchange is timing suspensions with two important upgrades…
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video, I’m going to talk about the future of Bitcoin and whether or not it’s still a good investment for the long term. Hey, in this video I’m going to be talking about something that’s been on a lot of people’s minds lately- Bitcoin. A lot of people are wondering if it’s still a good investment and whether or not it will hold its value in the long run. So let’s take a closer look at what’s going on with…
The decision comes as Thailand’s retail trader market is dwindling. Data from the country’s Securities and Exchange Commission cited by Bloomberg showed the number of active trading accounts fell to 260,000 in July from 692,000 in January, coinciding with a fall in crypto prices. Bitcoin (BTC) is now 69% lower than its record high, with ether (ETH) and other major cryptocurrencies such as solana (SOL) registering declines of as much as 86%, CoinGecko data shows. Source
Ethereum is a few weeks away from officially moving to a proof-of-stake (PoS) mining consensus from its current proof-of-work (PoW) one. The transition officially dubbed the Merge is slated for Sept. 15, but in the run-up to the major upgrade, Ethereum node centralization has become a hot topic. As Cointelegraph reported last week, the majority of 4,653 active Ethereum nodes are being run through centralized web providers like Amazon Web Services (AWS), which experts believe could expose the Ethereum blockchain to the central point of failure post Merge. Distribution of…
With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said. The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52%, is the third highest out of 26 countries. Just Over Half Own BTC According to Finder’s crypto adoption trends report for August 2022, about four million people, or 10% of South Africans, are cryptocurrency holders. With this crypto ownership rate, South Africa is ranked eighteenth out of twenty-six…
Algorithmic stablecoin USDN, which is designed to mimic the value of the U.S. Dollar, has fallen to $0.91. Source
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Kazakh Authorities Bust 202MW of Illegal Crypto Mines The Central Asian country has struggled to meet electricity demand, particularly after miners flocked there from China. Join this channel to get access to perks: Affiliate Links Amazon: HiveOS: Trezor: Cryptocom: CashApp: PrimeXBT: sonofatech.com/primexbt Parallel Miner: Coinbase: Twitter Facebook Instagram #cryptomining #cryptominingmorning #cryptominingmorningshow ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version