Hodlnaut avoided 3AC exposure and earlier denied ever buying UST, but several reports and on-chain data have shown that the lending firm at one point owned over $150M worth of UST. Blaming market conditions and lack of liquidity, Singapore-based crypto lending platform Hodlnaut has become the latest firm to suspend withdrawals and deposits.The crypto lending… More
Su Zhu revealed the 3AC team had close ties to Terra co-founder Do Kwon, which made them overlook several red flags with the project that eventually led to a multi-million dollar loss for the hedge fund. The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week… More
According to the MAS managing director, TerraForm Labs, Luna Foundation Guard and Vauld were “not licensed or regulated” by Singapore’s financial watchdog. Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of… More
While a classic technical indicator could be hinting at BTC price falling below $13,000 as well. Bitcoin (BTC) investors in China plan to buy the dip despite an ongoing market correction and a nationwide crypto ban, a new survey shows.Consensus sees Bitcoin at $10KA survey of 2,200 people conducted on China-based social media platform Weibo… More
USDT is under attack from short sellers. Would they go away if only the company hired a Big Four accounting firm to audit its balance sheet? There is an old Arabic proverb: “The dogs bark, but the caravan moves on.” It could summarize the journey to date of Tether (USDT), the world’s largest stablecoin. Tether has… More
A recent ECB report says stablecoins are not practical as a mode of payment and their current form isn’t fit for use in the real economy. The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system.A section… More
The USTC price rally does not mean it would reclaim its lost U.S. dollar peg in the future. Terra’s $40-billion experiment to create a functional “algorithmic stablecoin” project has failed drastically following its collapse in May. Nonetheless, its native stablecoin TerraClassicUSD (USTC), earlier called TerraUSD (UST), has been thriving in the past week.Dead stablecoin walkingTo… More
XRP’s bearish outlook is driven by a mix of technical and fundamental factors that could see its price drop to $0.18 next. Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a “descending triangle” pattern, with its bias skewed toward the downside.Major XRP breakdown underwayTo recap, XRP started forming… More
All options are on the table for 3AC after this week’s crypto market collapse triggered mass liquidations for the hedge fund. 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… More
The lawsuit could be the first of many for U.S.-listed crypto exchanges that offered LUNA or UST to customers. Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST).A group of investors filed a class-action lawsuit in the Northern District of California on… More
Downside pressure for Terraform Labs’ LUNA2 mounts amid investigations and rumors from a “Terra insider.” Terra (LUNA2) reversed a portion of the losses this June 9 as its price per token rose by as much as 67.5% on the day, catching many traders off-guard with their perpetual swap positions.LUNA2 traders are shorting itIn detail, LUNA2’s… More
South Korean authorities are currently investigating Terraform Labs and its employees on several charges including tax evasion and market manipulation. Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities.The latest investigation revolves around the alleged embezzlement of Bitcoin (BTC) from the company’s treasury. According… More
Liquid staking firms could default on their Ether obligations if The Merge does not happen. The next big crypto crash could be around the corner due to Lido Staked Ether (stETH), a liquid token from the Lido protocol that is supposed to be 100% pegged by Ethereum’s native token, Ether (ETH).Notably, the stETH peg could… More
Mr. B alleges that the platform was designed only to offer an interest rate of 3.6%, but that changed at the last minute. Anchor Protocol was originally designed to offer an interest rate of 3.6%, but this was dialed up to 20% just a week before release to attract more investors, a core developer alleged… More
South Korea announced Digital Assets Committee, launched an investigation and met with Asia-Pacific financial authorities. On Friday, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government… More
AAPL 
GOOG 
MSFT 
AMZN 
TSLA 
TWTR 
DELL 
INTC 
AMD 
NVDA 
WMT