Day: June 17, 2022
Business

Crypto carnage pushes Celsius, Three Arrows Capital closer to insolvency, June 9-16

[ad_1] The 2022 version of crypto winter has been unlike anything we’ve seen before. As I warned last month, the meltdown of the Terra ecosystem didn’t end with Luna Classic (LUNC) hitting zero. The biggest threat was contagion. As the dust began to settle, we finally got a glimpse of who was left holding the bag. Crypto lender Celsius and Singapore-based venture firm Three Arrows Capital suffered heavy losses during
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Business

Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi

[ad_1] This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH).Trading firm 8 Blocks Capital called out to platforms holding funds owned by
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Bitcoin News

Three Arrows Capital (3AC) Liquidated for Millions as It Fails to Meet Margin Calls

[ad_1] The latest development around venture firm Three Arrows Capital (3AC) is that it has reportedly failed to meet margin calls from lenders. This has once again brought up the potential risk of the firm going into insolvency after it was severely hit by the crypto market meltdown earlier in the week. The report also cited that BlockFi, a crypto lender, was one of several companies that liquidated some of
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Business

Market selling might ease, but traders are on the sidelines until BTC confirms $20K as support

[ad_1] The total crypto market capitalization fell off a cliff between June 10 and June 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell by 28% within a week and Ether (ETH) faced an agonizing 34.5% correction.Total crypto market cap, USD billion. Source: TradingViewPresently, the total crypto capitalization is at $890 million, a 24.5% negative performance since June 10. That certainly raises
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Business

Senators join chorus of disapproval of ‘backdoor regulation’ in SEC staff accounting bulletin

[ad_1] United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts to “regulation disguised as staff guidance” and does not adhere to the Administrative Procedure Act.SAB 121 provides guidance on
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BLOCKCHAIN

Sweeping layoffs, hiring, and firing as crypto prices take a massive downturn

[ad_1] Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing woes of sudden unemployment.Words of encouragement and sympathy also poured out across Twitter and LinkedIn consoling individuals released from their responsibilities. Some expressed frustration, confusion, and anger while others expressed gratitude, renewed vision, and reflections.My heart is
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ALTCOIN

President Of Panama Suspends Crypto Bill Citing FATF Guidelines

[ad_1] The President of Panama, Laurentino Cortizo, has temporarily vetoed Bill No. 697, a bill dubbed the “crypto bill.” The President took this decision after saying that the bill requires more work to fit Panama’s financial regulations better. In May, President Cortizo warned that he wouldn’t sign the bill if it didn’t include additional Anti-Money Laundering (AML) regulations after the country’s National Assembly passed the bill in late April 2022.
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