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The post Three Arrow Capital (3AC) Lands Into Trouble With Singapore Regulatory Authority appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The Singapore Regulatory Authority namely, Monetary Authority of Singapore (MAS) on Thursday has reprimanded Three Arrow Capital (3AC) for providing false information and exceeding assets under management threshold, in a press release . The reprimand relates to transgressions committed by 3AC before notifying MAS in April 2022. The MAS has been looking into these violations since June 2021. In August 2013, 3AC received its Registered Fund Management Company (RFMC) status. This allowed them to manage assets of not more than $250 million. 3AC had exceeded its allowable assets under management for RFMC between July 2020 and September 2020 and between November 2020 and August 2021. In 2021, 3AC informed MAS about replacing their management funding from Singapore to another unrelated entity in British Virgin Isl
The post This Is Why Pantera Capital Considering To Exit Its Bitcoin Holdings appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Bitcoin dropped under $20,000 yet again, dragging several other altcoins with it. Though macroeconomic concerns put further pressure on crypto, this dip might be because various financial institutions and crypto hedge funds have been liquidating or have been forced to shut down part of their investments. Values in the global cryptocurrency industry fell by -5.91% in the last 24 hours, accounting for a greater loss than in recent days. Pantera Capital To Invest In Altcoins? Meanwhile, Pantera Capital’s Dan Morehead argues that the Federal Reserve has been committing critical errors for quite a long time. Therefore, these blunders are now affecting the cryptocurrency space, contributing to a massive breakdown in the coming days. The fall of Terra, according to Morehead, is an illustration of an unstable economic framework.
The post Peter Schiff Takes a Dig at Microstrategy’s Recent BTC Purchase appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The latest Bitcoin purchase by MicroStrategy has been criticized by Peter Schiff. MicroStrategy, a top provider of business information, has come under fire from Peter Schiff for its most recent Bitcoin acquisition. The well-known critic of Bitcoin attacked MicroStrategy and its CEO, Michael Saylor, on Twitter for recently acquiring additional BTC, calling the move a waste of money. Schiff was taken aback by MicroStrategy’s continued willingness to invest additional money in the top asset class despite the losses the company has suffered as a result of its Bitcoin investments. So $MSTR is down $1.4 billion on #Bitcoin , yet you continue to average down, throwing not so good money after incredibly bad. I's sure that but for your buying Bitcoin's price would be lower. But now that you're done the decline can resum
The post Pentagon Finds Major Security Loop Holes in Bitcoin Blockchain appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The price of cryptocurrencies just fell, wiping out hundreds of millions of dollars. The solvency of numerous tokens has been questioned after the Terra crisis. Record outflows and liquidations indicate a lack of confidence in the cryptocurrency market. DARPA , the research arm of the Pentagon, ordered a study to examine how truly decentralized blockchains are. The security firm hired by DARPA, Trail of Bits, focused largely on Bitcoin and Ethereum but also discovered evidence of significant security holes in the blockchain system. The study explained how decentralized bitcoin and Ethereum are. It also showed that in the case of Bitcoin and Ethereum, only a set of four entities and two entities, respectively, are required to modify historical transactions. Effectiveness of mining questioned? The effectiveness of the mining met
The post Alert Traders! FTX CEO Claims Several Exchanges Are On The Brink of Bankruptcy appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide In a recent interview, FTX CEO Sam Bankman-Fried cautioned people that some tiny crypto exchanges have become “secretly bankrupt,” and more are on the verge of failing. While in conversation with Forbes, Bankman-Fried cautioned that aggressive investment at the time of the crypto rise in the last two years has brought about a series of disasters following a price slump. It’s just not this; the other reason may also be due to several modest firms providing double-digit payouts that won’t sustain after crypto prices start seeing a downfall. It goes without saying that small exchanges, that provide returns above what their financial position permits them to, are likely to fail. Bankman-Fried’s remarks pop up as the founder offers credit facilities to two troubled companies, Voyager Digital and BlockFi. Celsius, o
The post British Virgin Island Orders Liquidation For Three Arrow Capital: Reports appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide According to Sky News reports, the British Virgin Islands has ordered cryptocurrency hedge fund firm Three Arrows Capital (3AC) bankrupt. This move will worsen the crypto space’s instability. As per the allegation, associates from Teneo Restructuring in the British Virgin Islands have also been connected to managing the Singapore-based company’s bankruptcy. Recently at the start of this week, Voyager Digital announced that it had served a consent order on Three Arrows Capital. According to the company, one of its subsidiaries sent 3AC a refusal warning for failing to pay off a debt. The debt contains 15,250 Bitcoin and $350 million in USDC, totaling approximately $660 million. According to the study, insolvency might be a turning point for the fast-developing crypto industry’s future. Nevertheless, the initial financ
The post Carbon Credit Token Gives Consumers And Business Unparalleled Access To EU Carbon Futures Through Blockchain Technology appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The $851 billion carbon credit market indicates a formidable push for sustainability to bring the world closer to a unified goal of becoming carbon neutral by 2050. However, despite 622 of the 2,000 largest publicly traded companies committing to go net-zero, many have failed to actually implement policies that offer real impact. This has revealed a dire need for change. CC Token , a digital climate project providing access to the regulated carbon credit market via blockchain technology, will list CCT on the MEXC Global exchange. MEXC Global is a centralized crypto exchange with 6 million users in more than 70 countries around the world. The first cryptocurrency collateralized by European Union Allowance (EUA) futures is coming to the MEXC Global Exchange, its second C
The post Is Terra Labs Involved in Price Manipulation With $3.6B USDT & UST? Decoding the Truth appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra Labs may have roughly $3.6 billion in USDT and UST, as shown in a CoinDesk Korea article. According to the news source, the money could be used for exchange and DeFi price gouging or financial fraud. Nevertheless, officials will need to verify the same with exchanges like Binance, Coinbase, Huobi, and Kucoin. Do Kwon , CEO of TerraForm Labs, has so far declared his assets via his SNS or Terra Foundation. Among these are LUNA (Terra), UST (Terra USD), and BTC (Bitcoin). In the event of UST (Terra USD) collapse, the company was expected to safeguard prices with the currency owned by them. On the other hand, on-chain data analysis indicated that TerraForm Labs and Luna Foundation Guard (LFG) wallets also had a substantial quantity of money from unidentified resources. The entire amount of illegal
The post Amidst Ongoing Bankruptcy, Celsius Withdraws ETH Stake appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Despite the advice of experts and attorneys, Celsius’ management intends to postpone filing for Chapter 11 bankruptcy. Instead, consumers are invited to demonstrate appreciation by using “HODL Mode” on their accounts, which effectively blocks outbound transfers. Conversely, Celsius has once again withdrawn its Ethereum (ETH) holdings in Bancor’s liquidity pool to settle debts and maintain weekly payouts. Celsius Reduces ETH Stake In Bancor On June 28, PeckShieldAlert revealed that a suspicious Celsius account withdrew 12,880 Ethereum (ETH) for $1,190.73 and obtained approximately 7,183 ETH from a Bancor liquidity pool. Following turning off the Transitory Loss Safeguard, Celsius began reducing ETH stakes in Bancor. Last Thursday, the firm withdrew around 2000 ETH from the liquidity pool and received approximately 1150 ETH. Furthermore
The post Here Is How Hedge Funds Are Actual Heroes For USDT, Per Tether CTO appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Today, Paolo Ardoino, Tether’s Chief Technology Officer, responded to what he described as “public and planned” attacks against USDT by several hedge funds. He stated that this might be done to propagate more FUD in the aftermath of TERRA/LUNA’s demise. Hedge Funds Are Sacred Heroes? USDT’s claim as the most stable coin linked to the US dollar has recently been questioned. Recent developments, such as a new priority for USDC and USDT’s continual depeg, have aroused suspicions in the cryptocurrency world. Paolo Ardoino describes the mechanics of the “public attacks” on USDT in a lengthy conversation on Twitter, claiming that hedge funds have worked to destroy USDT liquidity by short-selling extensively and further re-purchasing at a discounted cost. He further stated that despite tether having tried to demonstrate clarity a
The post The Crypto Winter Get Intense With Institutional Selling! Outflows Solely Focused on Bitcoin appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Several digital assets, including Bitcoin and Ethereum, have been affected by the recent crypto crash that has captured the attention of the entire globe. Ethereum almost reached its 2017 lows at $880 during the “crypto winter.” After reaching its all-time high in November of last year at $69,000, BTC lost about 50 percent of its value. Currently, the market is recovering and BTC is strengthening above the $20,000 milestone . The alternative cryptocurrencies are gaining momentum with marginal profits as they follow BTCs suit. At the time of writing, BTC is trading at $20,778 and has decreased by more than one percent in the last 24 hours. Price Declines Call for Liquidations It’s possible that a sharp decline in market capitalization, together with a number of liquidations and margin calls receive
The post Unizen Announces $200 Million Capital Commitment Deal From Global Emerging Markets (GEM)  appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Crypto exchange aggregator Unizen has today successfully acquired a $200 million capital commitment from Global Emerging Markets (GEM) in a bid to bolster innovation on the platform. The funding, which is set to be released in milestone-based stages will also be used to expand the team, improve current features, and market the exchange globally. According to the company’s executive team, Unizen needs to meet some undisclosed criteria in order to “unlock” more and more of the $200M commitment funding, to make sure the initial funding (also undisclosed) is optimized to the fullest. “We are proud to welcome GEM to the Unizen Ecosystem as a potent and strategically aligned growth partner that can support the rapid expansion of the Unizen platform, brand and community,” Sean Noga, CEO of Unizen commented
The post Did Celsius Network CEO Attempt To Flee? Here Is What You Need To Know appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide 2022 will undoubtedly be remembered as one of the worst years for the crypto industry. Although acquisition grabbed center stage, losses quickly followed. Furthermore, the demise of Terra and the Celsius Network intensified the market turbulence. Once the crypto-verse began to recover, Celsius decided to halt transfers, claiming “severe market circumstances.” The unexpected news prompted the community to declare the site bankrupt. Rejecting these reports, Celsius Network CEO Alex Mashinsky stated that the money was secure and that the company was working tirelessly to resolve the problem. But, unfortunately, things appear to be changing dramatically. Today morning, crypto expert Mike Alfred announced on Twitter that Mashinsky was allegedly attempting to escape the country. As stated in the above tweet, it is unclear w
The post The Year 2022 Accounts For The Worst Bear Market, Claims Glassnode Report appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Till today, 2022 has been an exceptionally difficult year for the financial market, with stocks, bonds, and virtual currencies all failing in the face of restrictive financial conditions. Inflation and restricting liquidity in the economy has put enormous strain on the excessively bought crypto industry. Almost all of the current suffering originates from overvalued funds, as well as the rehypothecation of security coming into effect, both on and off-chain. During this period, Bitcoin and Ethereum also have dropped beneath their prior cycle ATHs, the first in the record. As a result, a large chunk of the market has experienced unrecognized damage, with all 2021-22 investors being submerged. Since this financial crisis worsens, an increasing number of buyers are abandoning their investments, resulting in historic act
The post Do Kwon’s Crimes will Be Brought to Light, Vows Anonymous appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra’s demise shocked people all around the world. A few people issued significant threats to the project’s developers, while others experienced severe loss and desired justice. South Korea continues to investigate the stunning collapse of the crypto project in great detail. Amid the turmoil, Kwon lives in freedom and even launched another initiative. However, many people, notably the hacktivist community ‘Anonymous,’ found this infuriating and disrespectful. Anonymous released a YouTube video to take control of the situation. Regarding the failure of the Terra (LUNA) and TerraUSD (UST) ecosystems in May , the hacktivist group has vowed to ensure that Do Kwon, Terra’s designer, and founder, is “brought to justice as soon as appropriate.” The group was confident that Kwon was also responsible for several other atrocities. Hack
The post How Goldman Sachs Could Benefit From Celsius’s Financial Struggle appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide As per Fortune data, Goldman Sachs is financing $2 billion to purchase the property of struggling crypto creditor Celsius as it approaches bankruptcy. Although Celsius may not file bankruptcy, Goldman Sachs users will be allowed to purchase its holdings at reduced prices. In the meantime, Celsius has reportedly appointed more restructuring attorneys from the consulting company Alvarez & Marsal. Goldman Sachs Looks To Purchase Celsius At A Much Lower Price As per individuals who are aware of the situation, Goldman Sachs is gaining interest and promises from Web3 crypto funds, troubled investment financing, and standard finance companies, as per what Fortune published today. Furthermore, Goldman Sachs is already boosting its presence in the cryptocurrency sector. For example, Goldman Sachs is negotiating with the FTX cryp
The post Celsius Network To Declare Bankruptcy? Know The Complete Story appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide According to the latest Wall Street Journal article, the struggling crypto funding service, Celsius Network , could be planning to declare bankruptcy after hiring structural advisors from consultancy company Alvarez & Marsal. Celsius Network unexpectedly banned customer withdrawals, swaps, and exchanges in early June, claiming the present market collapse to be the reason. From this moment on, the site has given its consumers no details related to restoring its services. Meanwhile, on June 15, its CEO, Alex Mashinsky, published an unclear remark stating that his staff was “working 24/7.” According to readily viewable data, Celsius is now seeking fresh funding from investors. However, judging from the scenario, the lending site is discussing the option of declaring bankruptcy. The terms claim that if Celsius declares bankru
The post Top Reason Why Goldman Sachs Is All Set To Acquire Celsius Network! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The globe’s greatest financial firm, Goldman Sachs, has begun to consider acquiring assets from Celsius Network, a struggling crypto lending startup. As per publicly accessible data, Goldman Sachs is preparing a $2 billion monetary cash reserve for the investment. If the sale drops ahead, it will most certainly be at a massively diminished cost, particularly if the business declares bankruptcy. This appears to be a possibility given that it recently acquired a new company to assist it in the bankruptcy case. As per sources, Citigroup and Akin Gump urged Celsius to file for insolvency. Goldman Sachs has begun an industry-wide demand accumulation by finding potential buyers and obtaining significant agreements through them. As shown in the reports, Goldman Sachs is already recruiting participants in Web3 crypto funds that fo
The post Elon Musk to Receive More Data From Twitter To Analyse Bot Accounts appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide After Elon Musk expressed his displeasure with Twitter’s data on bots and spam accounts, the company agreed to share more information with him. Twitter provided additional information on bots, including real-time API data, which is probably all Elon Musk needs to move forward with the $44 billion acquisition offer, as reported by Business Insider. The statistics on daily active users is not sufficient, according to a letter Musk’s attorneys delivered to Twitter, according to sources. Elon Musk requires more information because his staff was unable to analyze bot accounts. Earlier, Elon Musk had threatened to end the relationship with Twitter if the social media company did not reveal information about bot accounts. While maintaining that less than 5% of accounts on Twitter are bots, Twitter published data on daily active
The post Not In A State To Support Failed & Poor Performing Cryptos, Claims Binance appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Following FTX’s assistance to insolvent crypto lenders BlockFi and Voyager, there have been suggestions that Binance may also declare some bailouts. Binance has finally broken the silence and addressed the situation. The firm stated that it is not in the mindset to assist “poor” or failing cryptocurrency initiatives, which also include ‘ill-considered,’ ‘badly handled,’ or ‘poorly organized’ undertakings. Binance stated in its most recent article that bailouts for such ventures are unnecessary and must not be safeguarded. The post asserts not to keep terrible firms going. However they should allow better ventures to prove their worth, which they will. During the current market downturn, crypto lending businesses were in demand to sell due to huge take on debt. However, Binance highlights certain kinds of ente
The post AuroraFS New Web3Tube Version Includes Authorized Access Control appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide As the cryptocurrency industry continues Bearish momentum, the AuroraFS P2P Cloud Storage and Distribution Network has been one active example of an innovative decentralized project that continues to build during these turbulent times affecting all regulated and unregulated financial markets. Identifying which projects are still working has been pointed out by industry experts, as a dependable and clear indicator of which networks to watch to rise out of the current market conditions experienced as of late. The AuroraFS decentralized network has made the pre-scheduled upgrades to its prized Web3Tube decentralized video storage and sharing platform. A security enhancement made to the entire system comes in the form of a network protocol now in place, referred to as Authorized Access Control, AAC for short. Authorized Access Con
The post With GARI Mining, Chingari App Users Collectively Earn Over $300K In Crypto Rewards appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide After enabling users to earn cryptocurrency rewards for engaging with its mobile application, Chingari has revealed on Twitter that it has paid out over $300,000 just one week after the feature went live. The GARI Network said more than 111,000 users have so far claimed $313,573 worth of GARI tokens from a pool of 400,000 that has been set aside as a reward for users who perform activities in its app such as uploading, liking, sharing, and commenting on videos. In the first 8 days of #Garimining , over 111k users mined GARI tokens from a pool of 400k which means $ 313,573 worth of GARIs has been rewarded to our beloved community just for social media entertainment on the @Chingari_IN app. Crazy right! How much have you earned? Comment pic.twitter.com/FL1t8rqF6E — GARI Network (DAO) (@GariToken) J
The post These 3 Factors To Give Nod To Cardano’s Vasil Hardfork! But Is Another Important Launch On The Horizon? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The seventh-largest cryptocurrency Cardano (ADA) has been under consideration of hodlers. As the developmentally sound protocol lines up major upgrades for release. The Vasil Hardfork has been on the top of the list. And is what the industry is looking forward to for not one but many reasons. While the Vasil Hardfork sees a delay for valid reasons such as bugs and security. The makers have also shed light on the three factors which will determine the rollout of the hard fork on the testnet. Amidst the bustle around the hard fork, Cardano also has an imperative launch, which could help it weigh heavier against the competition. Will Vasil Go Live Only After These 3 Checks? It is now a known fact to the masses from the industry. That Input-Output Global has postponed the testnet of t
