The crypto market seems to be gaining some momentum this week. Bitcoin’s price is moving steadily and happens to be stable even after the news about Elon Musk’s Tesla selling 75% of its bitcoin holdings. Ether is making new highs from Monday. Doge fell sharply after the Tesla quarterly earnings report.
Author: joyabia
joyabia
Joy Abia contributed to Blockchain Journal during 2022, covering topics related to finance, digital assets, and the intersection between traditional financial systems and emerging fintech models. Her reporting focused on explaining financial concepts, market structures, and investment-related developments within the broader crypto and blockchain landscape.
Tesla has just released its quarterly earning reports and it shows that the company liquidated 75% of its Bitcoin holdings worth $936m.
If you ask me to score how bad things are for crypto right now on a scale of 1 to 10, I’d honestly say 10 because, according to data from CryptoCompare, bitcoin alone lost 58% of its value in the second quarter of 2022, which happens to be the worst quarterly loss in over a decade.
Three Arrows Capital, also known as 3AC, happens to be in more trouble than we thought. The bankruptcy filings reveal that the company is owing about 27 companies. The filing also reveals that the founders paid $50 million for a yacht. To top up the chaos, its founders have been reported missing.
Dubai, led by the Chief Executives of the City, has launched its strategy to become a global hub for future technology and innovation. The strategy is built upon the already existing reputation that the country has as a conducive environment for about 1,000 blockchain and metaverse businesses.
The Australian central bank governor suggested on Sunday that with proper regulatory measures set in place, the business of issuing digital tokens can be left in the hands of private sector leaders because they are better at it.
The most popular cryptocurrency is up about 6.5% from last week’s low, and the entire crypto market is rising along with it. The bulls are taking a stance and are gaining more strength in the market despite the long days of the bear party. Is the crypto winter over?
According to Celsius Network CEO Alex Mashinsky, the company owes its customers $4.7 billion. The corporation filed for Chapter 11 bankruptcy on Wednesday at the U.S. Bankruptcy Court for the Southern District of New York, which led to this discovery.
On-chain analysis reports show that the average total value received by cryptocurrency mixers has risen significantly in the second quarter of 2022. This value reaches an all-time-high. What could this mean?
The UK court has approved allowing anyone to sue another individual or blockchain participant on the blockchain directly with a nonfungible token. The court documents were signed this week.