At the end of the day, many investors feel pressure to know everything about alternative assets, including cryptocurrencies, before pulling the trigger. That is often an unrealistic expectation, given the asset class is nuanced, and wrapping your head around it can be time-consuming. Instead, look to experts – including advisors – who are immersed in the space day-in, day-out, and there to help. Source
The bankrupt crypto lender Celsius filed an adversary complaint against EquitiesFirst Holdings on Sept. 6. EquitiesFirst Holdings is an Indianapolis-based private lending company that owed Celsius nearly $439 million worth of cash and bitcoin (BTC). Initially, Celsius took collateralized loans in 2019 to help support its operations. Later on, in July 2021, Celsius aimed to retrieve the collateral it had pledged to EquitiesFirst, but EquitiesFirst couldn’t return the assets that Celsius provided. Celsius, a digital-asset lending firm, filed for Chapter 11 bankruptcy protection in July. The company cited the decline…
He declined to guess which of the ongoing crypto legislative efforts are most likely to make headway, though he said Congress should go at it incrementally, biting off smaller pieces rather than a comprehensive approach. He said that’s what his two-page Stablecoin Transparency Act was trying to do, just setting up some simple rules more immediately. Source
The Tokyo Game Show 2023 will feature Oasys and double jump.tokyo, highlighting the latest trends in blockchain gaming. The Tokyo Game Show 2023, renowned as one of Japan’s largest gaming expos, is set to host a significant exhibition on blockchain gaming. Oasys, a blockchain-based game development platform, and double jump.tokyo will be the main attraction, showcasing the latest trends in the blockchain gaming industry. According to the Tokyo Game Show announcement, the event will take place from September 21st to 24th at the Makuhari Messe Convention Center, bringing together video…
August turned out to be not only an unfavorable month for the prices of major cryptocurrencies but also for the performance of the largest exchanges. According to data collected by Finance Magnates Intelligence, the top ten platforms in terms of spot volumes recorded their worst month in nearly three years. Total volumes fell to $359.59 billion, losing 13% monthly and a staggering 50% year-over-year (YoY). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! The…
Crypto exchange Binance is refunding users 1 million Tether ($1 million) over its handling of the CyberConnect (CYBER) token incident. As narrated by the exchange on Sept. 7, a price discrepancy on listed CYBER tokens occurred the week prior due to a liquidity crunch constricting CYBER cross-chain bridges on Korean cryptocurrency exchange Upbit. This led to arbitrageurs borrowing CYBER from Binance to profit from the differential. In turn, Binance users who staked CYBER in its Flexible Earn Program were barred from redemptions as the staked assets had been borrowed, reaching…
Bans on aggressive marketing were set to take effect in October, but companies can apply to delay some aspects until January. Source
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The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November. Source
A BNB Chain rug pull scams users out of $2 million ($11 million at today’s BNB prices). Users ask Binance for help. Binance says it has frozen the funds but then retracts the statement. The funds sat in the address for nearly two years when Binance suddenly took action to freeze the scammer’s wallet, which had grown to $10.8 million. Previously, Binance had stated that it could not freeze wallets outside exchange addresses due to BNB Chain’s decentralized nature. Users are unhappy and demand Binance to do more. This is…