Tag: Report

Three Arrows Capital Founders Break Their Silence, Look to Move to Dubai: Report

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BlockFi had $1.8B in outstanding loans in Q2: Report

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Centralized crypto lender BlockFi disclosed that as of the end of Q2, it had $1.8 billion in outstanding loans from institutional and retail investors and $600 million in “net exposure.” The disclosure came from its July 21 Transparency Report for Q2 where the firm outlined its risks relating to liquidity and credit, and shared details on its institutional and retail loan portfolios. Of the outstanding loans to borrowers — valued at $1.8 billion — the firm reported that $600 million are uncollateralized loans. Institutional loans accounted for $1.5 billion of…

Workers in volatile economies most likely to take pay in crypto: Report

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Residents in nations with volatile economies are more likely to receive their pay in crypto, according to global hiring platform Deel.  In its “State of Global Hiring Report” shared with Cointelegraph on July 21, the firm found that despite the 2022 bear market, crypto represented 5% of all global payments withdrawn from the platform every month, up from 2% in the second half of 2021.  Residents in nations with volatile economic situations and currencies were most likely to take their payments in crypto, according to the report. These included countries in Latin…

Hardware wallet industry to outstrip crypto exchanges: Report

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The crypto hardware wallet industry could be growing at a faster pace than cryptocurrency exchanges, data from several studies suggest. The current bear market has accelerated the development of the cold wallet industry, while many centralized crypto exchanges were scrambling to maintain operations. According to a report by business intelligence firm Vantage Market Research, the revenue of global crypto trading platforms amounted to $330 million in 2021. Released on July 21, the report suggests that the global crypto exchange market revenue would reach a value of $675 million by 2028 with…

Crypto lender Vauld seeks protection against creditors: Report

Singapore crypto exchange Vauld Group is seeking a moratorium against its creditors — a move that would give the troubled lender more time to restructure its business after collapsing asset prices impacted its operations earlier this month. Vauld filed an application in Singapore on July 8 seeking a moratorium order, The Wall Street Journal reported Wednesday. If granted, the moratorium would provide the distressed lender more time to seek out a proper restructuring plan. The Journal said a Singaporean moratorium order is similar to Chapter 11 bankruptcy in the United…

Bitcoin price dips under $23K after earnings report reveals Tesla sold 75% of its BTC

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“Easy come, easy go” was the story on July 20. The day started on a positive note with Bitcoin (BTC) climbing above $24,300, only to end the official trading day in the red after less than stellar Q2 earning news showed Tesla sold 75% of its Bitcoin and Minecraft creator Mojang Studios reversed course by deciding to ban NFTs on its platform. Daily cryptocurrency market performance. Source: Coin360 A potential source of the afternoon downturn can be traced to Tesla’s Q2 earnings data, which showed that the electric car company sold…