Tag: Report

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…

FTX and FTX US seek even more funding following acquisitions: Report

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Crypto exchange FTX and its United States subsidiary FTX US have reportedly each set new fundraising targets following the firms planning several high profile acquisitions and credit lines to firms. According to a Wednesday report from Bloomberg, FTX co-founder Sam Bankman-Fried discussed raising money matching that of a January funding round in which the firm closed on a $400 million round, bringing it to $32 billion in valuation. FTX US reportedly set similar goals, having raised $400 million in January to reach an $8 billion valuation. The report followed both…

South Korean authorities raid 15 entities linked to Terra collapse: Report

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Prosecutors in South Korea behind the investigation of Terraform Labs have reportedly executed a search and seizure in 15 firms, including seven crypto exchanges. According to a Wednesday report from News1 Korea, the Joint Financial and Securities Crime Investigation Team of the Seoul Southern District Prosecutors Office raided the offices of Upbit, Bithumb, Coinone, Korbit and Copax as well as other businesses connected to the collapse of Terra. Authorities reportedly obtained data related to TerraUSD (formerly UST) and Terra (LUNA) — now Luna Classic (LUNC) — transactions, in which roughly…

Bitcoin May See Another 5 – 6 Months of Downward or Sideways Price Movement – Grayscale Report.

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In brief: The team at Grayscale has forecasted that Bitcoin could see another five to six months of downward or sideways price movement. The Grayscale team cites the traditional 4-year Bitcoin and crypto cycle as their basis for the conclusion. The team also highlighted an increase in the number of wallets holding 0.001 – 0.01 BTC, 0.01 – 0.1 BTC, and 0.1 – 1 BTC. A team of analysts from Grayscale has released a report analyzing the ongoing Bitcoin and crypto bear market. Bitcoin Might See Another 5 – 6…