Day: June 19, 2023

Crypto lender Delio to resume withdrawals after counterparty contagion

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According to a recent report by local news outlet Decenter, South Korean crypto lending platform Delio will resume withdrawals, albeit with no fixed schedule, after pausing them on June 14. In a meeting with investors on June 17, CEO Jung Sang-ho explained, “[Delio] will secure as much capital as possible to compensate” and that “users’ withdrawals would come in phases.” No details regarding the specific repayment period, method and amount of damage were disclosed, however.  Delio is one of South Korea’s largest crypto lending firms and claims to hold an…

Crypto investment products experience outflows for 9th consecutive week

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On June 19, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” revealing that cryptocurrency investment products experienced outflows totaling $5.1 million last week. The outflows contributed to the continuation of a nine-week streak of outflows, resulting in a cumulative total of $423 million. Weekly crypto asset flows. Source: CoinShares The report noted that despite this downward trend, there was a glimmer of hope toward the end of the week, as news emerged that BlackRock, one of the world’s largest asset managers, had submitted an application for…

USDT issuer freezes Ethereum address with over $4.1m

Tether Holdings Limited, the Hong Kong-based company and the issuer of USDT, the world’s largest stablecoin by circulating supply, has frozen an account holding over $4.1 million of the token on Ethereum, on-chain data on June 19 reveals. Tether freezes $4.1 million of USDT on Ethereum Tether froze $4.11 million of USDT on June 19 without explaining, records captured by WhaleAlert on the same day reveal. On Etherscan, an analytics platform for tracking ethereum (ETH) and Ethereum-based tokens, records show that the USDT issuer had marked the wallet as frozen. At the same…

Fed rate pause triggers traders’ pivot to stocks — Will Bitcoin catch up?

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After a momentary retest of the $25,000 support on June 15, Bitcoin gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish as the cryptocurrency has declined by 12.7% in two months. The dismissal of Binance.US’s temporary restraining order by Judge Amy Berman Jackson of the United States district court is somewhat related to investors’ sentiment improving. On June 16, the exchange reportedly reached an agreement with the U.S. Securities and Exchange Commission (SEC), avoiding the freeze of its assets. On a longer timeframe, the…

IMF envisions ‘new class’ of cross-border payment platform with single ledger

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The International Monetary Fund (IMF) has presented the outlines of a “new class” of cross-border payment system that provides but does not require a single ledger to record central bank digital currency (CBDC) transactions, programmability and improved information management.  IMF officials chose a roundtable on CBDC policy to reveal their new platform concept on June 19. At the event, held in conjunction with the central bank of Morocco, IMF director of the monetary and capital markets department Tobias Adrian said the new type of platform could benefit individual and institutional…

Analyst Suggests Replacing FAANG with MATANA in Hierarchy of Stocks

Ray Wang, Constellation Research Principal Analyst, believes that due to market changes FAANG should be replaced with MATANA in stock ranking. In the ever-evolving tech world, the dominance of FAANG – Facebook Inc, now Meta Platforms Inc (NASDAQ: META), Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX), and Google alongside its parent company Alphabet Inc (NASDAQ: GOOGL) – has been unquestionable. However, as the sector evolves, some experts suggest that it is necessary to rethink the hierarchy and put a new lineup at the top even before earlier…

Terraform Labs Founder Do Kwon Found Guilty of Document Forgery and Sentenced to 4 Months in Jail

A court in Montenegro has found Do Kwon guilty of document forgery and has sentenced him to jail. Kwon will remain in custody longer pending the country’s response to an extradition request. CEO and co-founder of Terraform Labs Do Kwon has been found guilty of document forgery and sentenced to a four-month jail term. Kwon was convicted and sentenced by a Basic Court in Podgorica, the capital of Montenegro. Authorities in Montenegro arrested Do Kwon back in March for carrying fake documents. Law enforcement arrested Kwon and Han Chang-Joon, another…

Binance Comes to Agreement With SEC Following Attempt To Freeze Crypto Exchange’s Assets

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Binance has come to an agreement with the U.S. Securities and Exchange Commission (SEC) after the regulator attempted to freeze the American arm of the firm’s assets. In a new court filing, the SEC has agreed to a proposal that lets Binance.US maintain sole possession of its customers’ assets. “It is further ordered that on or before the date the Court issues this Consent Order, Stipulating Defendants will, through their officers and employees or a non-affiliated third party custodian within the United States, ensure, and each confirm to counsel of…

Realtor may have accepted $3M offer for Washington DC property linked to Sam Bankman-Fried

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An unidentified buyer or buyers could soon own a property previously linked to defunct cryptocurrency exchange FTX and its former CEO Sam Bankman-Fried in Washington D.C.’s Capitol Hill neighborhood. According to an updated posting on Realtor.com, the D.C. property was listed as “contingent”, suggesting that the party handling the deal has accepted an offer but the transaction was not yet finalized. The townhouse located near the U.S. Capitol building was reportedly owned by Guarding Against Pandemics, a nonprofit organization established by Gabriel Bankman-Fried, brother of the former FTX CEO. Cointelegraph…