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“Crypto Firms On Alert During Market Uncertainty”

6/13 Celsius was one of the major players to shake the crypto world after it paused withdrawals, swaps and transfers between accounts

Multiple cryptocurrency exchanges and lending platforms have announced halts on withdrawals in the past two weeks as markets across the world have been grappling with bear territory.

6/14 Binance paused bitcoin withdrawals for about three hours amid Celsius’ impact

6/15 more market volatility came after it was reported digital assets-focused hedge fund firm Three Arrows Capital (3AC) is facing potential insolvency after a $400 million liquidation

6/16 Finblox, a Hong-Kong based crypto staking and yield generation platform which secured investment from 3AC, said it will impose a $1,500 monthly withdrawal limit and pause reward distribution

6/17 Crypto lender Babel Finance suspended withdrawals and redemptions on Friday

6/20 Hong Kong-based crypto exchange Hoo said in a blog post it would be delaying withdrawals for 24 to 72 hours (The exchange reopened withdrawal for some tokens starting Wednesday 6/23)

6/21 Sydney-based crypto lender Maple Finance also faced liquidity pressures, lenders must wait for borrower repayments. “There may be instances where there is insufficient cash in pools,”

6/22 crypto broker Voyager Digital revealed Wednesday it had exposure to 3AC where the company sought to recover about $657 million allegedly loaned to the hedge fund

6/23 Crypto exchange CoinFLEX was one of the most recent firms to announce a pause in withdrawals

6/27 Monday, Voyager issued a notice of default to 3AC after the latter failed to make any required payments and engaged Moelis & Company as financial advisors, and accessed the first $75 million of its line of credit with Alameda Research

“When one of the largest crypto hedge funds can be underwater due to leverage, participants in the market must be aware of the total leverage in the market and how it is affected during times when this credit suddenly vanishes,” Mads Eberhardt, Cryptocurrency Analyst at Saxo Bank told Blockworks

“[That] has the power to take many crypto lenders to their knees, effectively fueling the contagion further,” 🔥🔥🔥🔥🔥🔥

https://blockworks.co/which-crypto-firms-are-on-defense-during-market-uncertainty/

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“Hacktivist group Anonymous sets sights on Do Kwon after LUNA meltdown”

Anonymous intends to investigate Kwon's history since he entered the crypto industry and believes that there are several other crimes that he might have committed

“There is no doubt that there are many more crimes to be discovered in your trail of destruction.”

https://cryptoslate.com/hacktivist-group-anonymous-takes-aim-at-terra-founder-do-kwon/

Join us:
@QuantumStellarInitiative
@QuantumStellarInitiativeChat
Lobstr ✅ QSI.xmint.io
http://www.QSIResources.com
https://youtube.com/channel/UChCxSaSZyyvFnMINo3sUQtQ