After five weeks in hiding, the disgraced founders of Three Arrows Capital (3AC) spoke extensively to Bloomberg about the spectacular implosion of their once high-flying hedge fund, saying their bungled crypto speculation unleashed cascading margin calls on loans that should never have been made.
Author: hassan
hassan
Hassan Shittu contributed to Blockchain Journal as a cryptocurrency journalist, covering blockchain technology, digital asset markets, and broader industry developments. His reporting focused on delivering clear, timely coverage of crypto-related news, with attention to market structure, ecosystem trends, and factual accuracy.
Silvergate receives a total deposit of $13.3 billion in the second quarter. This is down from $14.7 billion in the previous three months. Earnings per share rose to $1.12, beating Wall Street estimates of $0.84. Silvergate showed continued strength in the second quarter of 2022, with the financial services group that has positioned itself as a “crypto bank” reporting record earnings despite a crash in digital assets.
Less than 24 hours after the Thai-based cryptocurrency exchange Zipmex halted customer withdrawal due to “volatile market conditions,” the SEC queried it to clarify the reason behind its action. This pressure from the Thai Securities and Exchange Commission (SEC) has prompted the company to announce plans to resume entire operations.
Electronics big L.G. is now the most recent firm to give attention to the Metaverse by submitting non-fungible tokens (NFT) logos for its LG ART LAB to the United States Patent and Trademark Office (USPTO) on July 19. The trademark software was shared in a tweet by licensed trademark legal professional Michael Kondoudis on July 19.
The CEO of Thai crypto exchange Zipmex denied rumors of financial trouble just moments before the group announced it would pause withdrawals on the platform. The platform said the move could help to solidify the exchange’s integrity as contagion in crypto continues.
As reported by the world’s largest digital asset manager, Grayscale Investments, a cryptocurrency market cycle has an average lifespan of 4 years (1275 days), and a bear market begins when the realized price moves below the market price (the current trading price of the asset).
Celsius Network has filed for Chapter 11 bankruptcy protection after deliberating for nearly a month. Before the first bankruptcy hearing on July 18, customers’ access to their funds was cut off while the lender looked for ways to stay afloat.
After several months of gradual declines, the number of Ethereum wallets containing between 1,000 and 100,000 ETH jumped to a local peak. At the same time, smaller ETH addresses have also been rising, perhaps stacking for the upcoming Merge.
The Dutch central bank (DNB) has revealed imposing the world’s largest cryptocurrency exchange – Binance – an administrative fine of 3.325 million euros ($3.37 million) for offering services in the Netherlands without proper registration.
The Internet has contributed to the standard and easy living of humans. The world wide web is a combination of what stands as the internet where we access information easily anywhere, anytime, and anyone today.