15:48 July 03, 2022
Blockfi has signed definitive agreements with FTX worth $680 million, and $240 million could help acquire the company. Blockfi has agreed with Sam Bankman-Fried's crypto firm FTX, and the deal aims to protect client funds. Unfortunately, Blockfi has raised interest rates for its Blockfi Interest Accounts, and the company has experienced $80 million in losses. Blockfi’s co-founder Zac Prince said that the company's 3AC losses would be a part of its "ongoing bankruptcy case(s)" and will release more information as it becomes available. In addition, he explained that Blockfi's main goal has always been to protect client funds and that it was important for the company to bolster its balance sheet.
15:40 July 03, 2022
BTC.com reports that 915 unconfirmed transactions are currently active on the Bitcoin network. The network has 213.63 EH/s of computing power; the 24-hour transaction rate is 2.53 transactions per second. Currently, the difficulty of the entire network is 29.57 T. According to forecasts, the difficulty of the network will decrease by 0.23% to 29.50 T in the coming days. Therefore, there are 3 days and 2 hours left before the adjustment.
15:18 July 03, 2022
North Korea is facing a cash crisis after the ongoing market-wide sell-off significantly devalued its stash of stolen crypto assets. The East Asian country had made a fortune for itself through funding hacks into crypto wallets that made off with hundreds of millions of dollars. In March, the US Treasury Department blamed the Korean Government-linked Lazarus Group for planning and executing Axie Infinity's Ronin Bridge hack, which saw almost $615 million stolen. The hack became one of the largest ever in the crypto sector. With cyber-related crimes soaring in the recent past, North Korea has increasingly come under scrutiny by Western Nations. Moreover, the ongoing market slump has greatly affected North Korea's efforts to evade sanctions and fund its nuclear and missile programs.
15:13 July 03, 2022
Public companies are widely misunderstood, especially among the bitcoin and crypto crowd. It is because they are intentionally convoluted and confusing to make the investment bankers, lawyers, and insiders on Wall Street feel smart. A company goes public by selling some or all of its equity to underwriters, who then issue stock by trading openly on exchanges like the Nasdaq or New York Stock Exchange. Going public is dumb because it focuses on short-term growth over long-term growth, requires quarterly financial reporting, and opens the capital markets to private companies. Especially in crypto, going public isn't a one-size-fits-all solution. Coinbase, a company that has survived multiple bear markets, is now facing a public shareholder far more impatient than the private shareholder. Going public has led to an unsavory situation for Coinbase, as the company has had to cut back on hiring and rescind new job offers due to the market downturn.
14:56 July 03, 2022
A series of statements by Circle's founder and CEO, Jeremy Allaire, responded to rumors that the USDC stablecoin nearly collapsed. Given the history of scammers in cryptocurrency, Allaire said, it’s understandable why some users are paranoid. However, we have always tried to hold ourselves to the highest standard we can afford. Thus, it allows us to work with regulators, top guarantee companies, and leading financial institutions.
14:44 July 03, 2022
Solana's [SOL] falling wedge breakdown reignited its near-term bearish inclinations, and a break below the current pattern can open doorways for a near-term decline. SOL's recent movements have chalked out a bearish pennant on the chart, which could aid the sellers in testing the $31-$32 range in the coming sessions. However, a compelling close above the 61.8% support could help buyers prevent further drawdowns. The Relative Strength Index failed to find a spot beyond the 45-mark resistance over the last few days, and the Accumulation/Distribution line registered lower troughs. Thus, it could help the buyers hold the 61.8% level on the chart.
14:26 July 03, 2022
Tether destroyed 447 million USDT generated by exchanging USDT between Tron and Ethereum. These tokens have been authorized but not issued, but are stored in the treasury, so the total supply of USDT will not change.
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