Investors redeemed a net $5.8 million from short bitcoin funds in the seven days through June 17, the crypto asset manager CoinShares wrote Monday in a report. (A “short” position in financial markets is a bet on a price decline.) At the beginning of the week, assets under management (AUM) in these funds had hit an all-time high of $64 million. Original
The Cointelegraph Research Terminal, the leading provider of premium databases and institutional-grade research on blockchain and digital assets, has added a new report to its expanding library from the industry leader in tokenization. This report from Security Token Market and sister company Security Token Advisors covers the rapidly emerging asset-backed real estate tokenization industry. This report has information on the developing shifts in the industry and is a must for any firm or business with a portfolio that encompasses real estate. The tokenized real estate industry is growing rapidly amid…
Terra (LUNA) employees are reportedly unable to leave South Korea as the country’s prosecutors imposed a departure ban on key developers of the project. Korean media outlet JTBC reported on Monday that an investigation team from Seoul Southern District Prosecutor’s Office has imposed a travel ban on key team members of Terraform Labs. The prosecutors imposed the ban to eliminate the possibility that key officials within the company may go abroad to avoid any further investigation. The report also highlighted that Terra CEO Do Kwon, who is a key figure…
The bad actors pose a “significant threat” to LinkedIn and its consumers, according to Sean Ragan, the FBI’s special agent in charge of the San Francisco and Sacramento, California field offices, according to the report. “This type of fraudulent activity is significant, and there are many potential victims, and there are many past and current victims,” Ragan said. In a typical scenario, according to the report, a scammer will pose as a professional with a fake profile and reach out to a LinkedIn user, starting with small talk before elevating…
Crypto-focused hedge fund and venture capital firm Three Arrows Capital is considering the sale of remaining assets and even a bailout as it grapples with the prospect of insolvency in the wake of a violent collapse in digital asset markets. The firm, which also goes by 3AC, has hired legal and financial advisers to explore solutions for its investors and lenders, The Wall Street Journal reported Friday. Several options are on the table, including asset sales and a rescue package by another firm, co-founder Kyle Davies told the Journal. In…
Terra’s implosion in mid-May and falling bitcoin prices affected the fund’s portfolio, its founders confirmed. Source
Since 2020, miners on the Ethereum blockchain have extracted around $600 million from other investors by miners, according to a new report by the Bank for International Settlements (BIS) focusing on common malpractice in the crypto mining industry. The June 16 bulletin, “Miners as intermediaries: extractable value and market manipulation in crypto and DeFi,” suggests three key takeaways from the BIS’ research on the functioning of the Ethereum protocol. The first is hardly surprising, which observed that Ether (ETH) and the decentralized finance (DeFi) protocols built on it “rely on…
CEO Zac Prince tweeted that the crypto lender “exercised our best business judgment.” Source
Venture firm Three Arrows Capital (3AC) has reportedly failed to meet margin calls from its lenders, raising the spectre of insolvency after this week’s crypto market collapse triggered unforeseen liquidations for the Singapore-based company. Crypto lender BlockFi was among the firms to liquidate at least some of 3AC’s positions, according to the Financial Times. Citing people familiar with the matter, FT reported that 3AC had borrowed Bitcoin (BTC) from the lender but was unable to meet a margin call after the market turned sour earlier this week. The issues surrounding…
Securities regulators from five U.S. states have reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals. According to a Thursday report from Reuters, Texas State Securities Board director of enforcement division Joseph Rotunda said regulators in Alabama, Kentucky, New Jersey, Texas and Washington began investigating Celsius after the platform announced it would be “pausing all withdrawals, swaps and transfers between accounts.” Rotunda reportedly called the investigation a “priority” for the Texas regulator and confirmed to Cointelegraph the enforcement division was “looking at the…