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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 ...
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...
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....
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...
