Day: December 21, 2023

Three Arrows Capital Founders See $1 Billion Asset Freeze

A court has frozen the assets of the Three Arrows Capital founders. The company owes $3.3 billion to creditors and filed for bankruptcy after the collapse of the Terra ecosystem last year. One of the most notable events in the crypto industry last year was the collapse of the Terra ecosystem. After Terra failed, many companies connected or exposed to it suffered losses as well. One of these was Three Arrows Capital which filed for bankruptcy in July 2022.  Now, about $1 billion in assets belonging to Three Arrows Capital’s…

Bitcoin Price Eyes $44K Mark as Crypto Market Cap Is Close to $1.7T

The overall crypto market cap was close the $1.7 trillion mark on Wednesday, signaling that more money might be flowing into the crypto industry. Bitcoin (BTC) price rebounded from some of its losses from yesterday, edging close to the $44,000 level early Thursday morning. Recall that on Wednesday, US stocks recorded an unexpected drop that saw the S&P 500 index closing 1.42% lower on the day. This drop, albeit unsurprisingly, was enough to impact riskier assets like Bitcoin and the rest. And as a result, the broader market immediately went…

Oasys Teams Up with Datachain and TOKI to Transform Web3 Gaming Interoperability

This partnership with Datachain and TOKI marks the latest in a series of high-profile collaborations for Oasys, demonstrating its commitment to expanding its ecosystem and progressing through its roadmap. Oasys, a leading gaming-focused blockchain, has forged strategic partnerships with Datachain and TOKI to enhance the interoperability of Web3 games built. This collaboration with Oasys demonstrates the industry’s commitment to pushing the boundaries of Web3 gaming despite difficult conditions in the broader crypto market over the last 18 months. Oasys’ Commitment to Unique Blockchain Experiences Daiki Moriyama, Director of Oasys, emphasizes…

Redditors Redflag Deepfake Video Featuring Ripple CEO Brad Garlinghouse

A Reddit user has reported that Google is unwilling to take down a video advertisement that appears to be an attempted scam targeting cryptocurrency users. Reddit users have recently uncovered a deepfake video featuring Ripple CEO Brad Garlinghouse, urging XRP holders to transfer their tokens to a specific address with the promise of receiving double the amount – a notorious tactic employed by scammers. A Reddit user reported the fraudulent video in a Reddit thread, thus encountering the deceptive advertisement on YouTube between Nov. 25 and Dec. 3. Additional users…

Crypto Lobbying Surges in 2023 amidst Push for Stablecoin Regulation

The House Financial Services and House Agriculture Committees have advanced bills actively seeking to provide a clear regulatory framework to govern the crypro and stablecoin market.  In 2023, the crypto industry witnessed a substantial surge in lobbying efforts aimed explicitly at shaping stablecoin regulations and influencing legislative outcomes in the United States, Bloomberg reported. According to the report, lobbying on stablecoin legislation experienced a significant uptick this year, with 161 reports – a remarkable 79% increase compared to last year. The Rise of Stablecoins and Regulatory Urgency For clarity, Stablecoins…

Spartan Group Executives Highlight Exciting Updates Expected of Web3 Sector in 2024

In 2024, the Web3 industry is expected to become more robust, with increased Bitcoin involvement, mergers, acquisitions, and RWA tokens. Blockchain investment and advisory firm The Spartan Group has highlighted a few exciting things in the Web3 space that are expected in 2024. In a recent Medium publication, the company revealed predictions made by several stakeholders connected to the Spartan Group, each one offering their thoughts on blockchain and Web3 next year. According to Spartan Capital’s co-founder, partner, and CIO Kelvin Koh, 2024 will be an exciting year for AAA-quality Web3…

This Year’s Top Performers and What to Watch in 2024

Layer-1 blockchain Solana (SOL) led the way in 2023 in terms of token price gains, with other altcoins Avalanche (AVAX), Stacks (STX) and Helium’s (HNT) following closely behind. Solana, which began its sharp increase in mid-October, has risen over 700% since the start of the year. HNT also made considerable gains, climbing 500%. Most of the advance came this month, following the company’s move into the mobile space. For Avalanche, there have been a number of institutional partnerships that helped lift the token some 300% year-to-date. Looking forward, analysts pointed…

XRP Whales Show Exchange Inflow Activity, Bad Sign For Price?

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On-chain data shows that XRP whales have been making exchange inflows in the past day, a sign that may be negative for the asset’s price. XRP Whales Have Made Multiple Large Exchange Inflows Today According to data from the cryptocurrency transaction tracker service Whale Alert, the XRP network has handled a few large transactions during the last 24 hours. In total, there have been four such transfers, each worth at least $10.9 million. Given the huge scale of these moves, it’s likely that whale entities were responsible for them. The…

Hong Kong’s HashKey Exchange restricts large third-party deposits except from Binance

Hong Kong’s HashKey Exchange says crypto deposits greater than $1,024 will only be allowed from Binance. In a blog announcement on Dec. 21, HashKey Exchange said it wants to meet regulatory requirements introduced by the Hong Kong Securities and Futures Commission (SFC), which is why the exchange will not accept crypto deposits from third-party exchanges except Binance. Those users who send more than 8,000HKD (around $1,024) would have to adhere to regulatory Travel Rule guidelines. “Currently, HashKey Exchange only accepts a single digital asset deposit of equal amounts greater than…