However, more Nexus funds appear to be endangered. Orthogonal Trading’s defaulted debt on Maple’s wrapped ether credit pool amounts to some $5 million (3,900 wETH). On top of that, embattled market maker Auros Global failed to repay a $3.1 million (2,400 wETH) loan and has another $7.5 million (6,000 wETH) in active loans outstanding from the same pool. Source
“If a community already has a school, but it doesn’t have the resources needed, how are they ever going to learn how to use Bitcoin,” said Yusuf Nessary, co-founder and director of BWB, in an interview with CoinDesk. “So we thought to ourselves, what if we build a freestanding multi-room, co-op and incubation center, where community members can come any time of the day?” Original
The cryptocurrency-focused financial services firm won an auction to buy the company from crypto lender Celsius, which filed for Chapter 11 bankruptcy protection. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets. Original
The crypto world has had its fair share of drama as the bear market bites down on the entire landscape. In addition, global inflation has also caused most companies to resize their organizational structure. Crypto businesses are now planning for effective cost-management strategies to prevent a collapse. However, the fear in the market for most crypto users is high since trusted firms have collapsed. In light of recent events, Australian cryptocurrency exchange Swyftx has shown 90 of its employees the exit door. It represents a layoff of around 40% of…
“Silvergate conducted significant due diligence on FTX and its related entities including Alameda Research, both during the onboarding process and through ongoing monitoring,” said Lane, noting the lender followed all relevant regulatory procedures when receiving wires directed to Alameda. As is required by both the bank’s own systems and regulations, said Lane, any possible untoward activity was investigated and – if necessary – reported as such. Source
Nansen considers a wallet to be “smart money” if it is “historically profitable,” meaning it meets at least one of several conditions, including: making at least $100,000 by providing liquidity to decentralized finance (DeFi) protocol, SushiSwap and Uniwap, excluding so-called impermanent losses; having at least more than or equal to five times in realized profits on multiple non-fungible token (NFT) collections that were minted in the last 60 months or having made multiple trades on decentralized exchanges in a single transaction that are profitable. Source
On Monday, Dec. 5, 2022, market data shows that non-fungible token (NFT) sales dropped 5.23% lower than last week’s sales despite a 15.16% increase in NFT buyers. Out of the $112.70 million in NFT sales volume over the last week, Ethereum-based NFTs accounted for $86.59 million or 76.8% of the $112 million in sales volume. Seven-Day NFT Sales Dropped 5.23% Lower Than Last Week, Cryptopunk #4,181 Sells for $187K in This Week’s Top NFT Sale Roughly $112.70 million in NFT sales volume was recorded during the last seven days, according…
Bitcoin (BTC) price is showing notable resilience at the $17,000 level, and according to data from Glassnode, a number of metrics that track the pace of selling and the on-chain behavior of investors are beginning to show a reduction in the factors that trigger sharp sell-offs. The FTX bankruptcy fueled a historic sell-off resulting in $4.4 billion in realized Bitcoin losses. By analyzing realized losses with the daily weighted average metric, Glassnode analysts found that the on-chain losses are subsiding. According to Glassnode, Bitcoin hit an all-time low in the…
Maxine Waters, chair of the United States House Financial Services Committee, has called out former FTX CEO Sam Bankman-Fried for announcing on social media he intended to testify after “learning and reviewing what happened” at the exchange. In a Dec. 5 Twitter thread, Waters cited Bankman-Fried’s numerous media interviews in the wake of FTX’s bankruptcy as evidence that his information was “sufficient for testimony” before the committee. Waters will preside over a hearing investigating the collapse of FTX on Dec. 13, in which committee leadership said they expected Bankman-Fried and…
Bitcoin (BTC) bulls regained some control on Nov. 30 and they were successful in keeping BTC price above $16,800 for the past 5 days. While the level is lower than traders’ desired $19,000 to $20,000 target, the 8.6% gain since the Nov. 21, $15,500 low provides enough cushioning for eventual negative price surprises. One of these instances is the United States stock market trading down 1.5% on Dec. 5 after a stronger-than-expected reading of November ISM Services fueled concerns that the U.S. Federal Reserve (FED) will continue hiking interest rates.…