Day: July 14, 2023

Hedge Fund Fir Tree Creates Fir Tree Digital Asset Opportunities Fund

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Everything that’s happened with Celsius and Alex Mashinsky so far

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On July 13, authorities arrested Alex Mashinsky, the former chief executive officer of Celsius Network. He faces criminal and civil charges stemming from his time at the cryptocurrency lending platform, which he helped co-found in 2017. Though the potential criminal proceedings of Mashinsky and indictment of Celsius are ongoing, the events of this week have been a culmination for many crypto users affected by the collapse of the platform. There were likely issues facing Celsius prior to the crypto market crash of 2022, buthe collapse of Terra put a spotlight…

Crypto will transcend international currencies — BlackRock CEO

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BlackRock CEO Larry Fink has delivered fresh remarks supporting cryptocurrencies’ role in democratizing investing worldwide, pointing to growing interest among the company’s clients in digital assets. “More and more of our global investors are asking us about crypto,” Fink said during an interview with CNBC’s ‘Squawk on the Street’ on July 14. BlackRock is the world’s largest asset manager, with over $8 trillion in assets spanning all types of investment products. In Fink’s view, cryptocurrencies have a “differentiating value versus other asset classes” in helping diversify portfolios. “[…] It’s so international it’s…

Solana price hits a 2023 high, but do strong fundamentals back the SOL rally?

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Solana’s (SOL) price briefly surged to a new year-to-date peak on June 14 after Ripple’s partial win against the United States Securities Exchange and Commission in the case contesting XRP’s (XRP) position as a security.  The token recorded gains of 48.09%, reaching a peak of $32.40 as news of the court ruling spread, before retracing below the $30.00 level. The positive gains following the verdict not only eliminated the losses from June 2023 when the SEC considered SOL a security in its lawsuit against Binance and Coinbase, but it also reclaimed…

Cryptocurrency Exchange Bitget Shatters Records with $1.44 Billion in Reserves

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Bitget, the popular cryptocurrency exchange, has made a groundbreaking announcement, revealing that its reserves have soared to an impressive $1.44 billion. What’s even more remarkable is that Bitget has achieved this milestone while becoming entirely debt-free. According to the exchange’s statement, Bitget’s reserve ratio currently stands at a staggering 223%, more than double the industry standard of 100% backing. This achievement reinforces Bitget’s commitment to providing a secure and trustworthy platform for its users. To break it down further, Bitget disclosed that it holds a reserve ratio of 454% for…

Indonesia Making Progress with National Cryptocurrency Exchange Scheduled to Be Launched This Month

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The Indonesian government is making progress in its plans to introduce a national cryptocurrency exchange and is expected to unveil the platform in the coming weeks, according to media reports. The country’s Commodity Futures Trading Supervisory Agency (CFTRA), also known as Bappebti, is spearheading the launch, which is scheduled for July 2023. Didid Noordiatmoko, the head of Bappebti, disclosed that all cryptocurrency transactions would be exclusively conducted through the national exchange. He further stated that discussions have been held to establish stock exchange regulations, with a particular focus on implementing…

Google Play Changes Policy on NFTs, Starbucks Announces Next NFT Journey

This week, Google made a big shift in their policy towards NFTs, allowing apps in the Google Play store to include the ability to buy, sell or earn tokenized assets. Meanwhile, Starbucks Odyssey, the brand’s Web3 loyalty program, announced their next Stamp would be “designed by Aku,” the NFT character launched by former LA Dodgers player-turned-artist Micah Johnson. Original Source AnnouncesGooglejourneyNFTNFTsPlayPolicyStarbucks CryptoX Portal

3AC co-founders’ OPNX exchange onboards FTX, Celsius bankruptcy claims

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OPNX, an exchange dedicated to the trading of bankruptcy claims against fallen crypto firms, has listed FTX and Celsius claims. According to the July 14 announcement, FTX claims specifically can be immediately onboarded and converted into collateral in the form of OPNX’s native reborn OX (reOX) tokens or oUSD, its credit currency. Users can then trade crypto futures using reOX as collateral. The claims are tokenized in partnership with Heimdall, which also handles onboarding and user verification. Developers wrote: “Claims will initially be converted into reOX tokens at a 100%…