🔻Ethereum NFT trading volume declined 55% slipping from 1.3 million ETH to just 584M ETH
◾In terms of USD, there was a 70% drop from $2.6B to about $672M.
https://decrypt.co/104101/ethereum-nft-trading-volume-falls-by-70-in-june-but-number-of-sales-steady?utm_source=telegram&utm_medium=social&utm_campaign=smt
◾In terms of USD, there was a 70% drop from $2.6B to about $672M.
https://decrypt.co/104101/ethereum-nft-trading-volume-falls-by-70-in-june-but-number-of-sales-steady?utm_source=telegram&utm_medium=social&utm_campaign=smt
Decrypt
Ethereum NFT Trading Volume Falls By 70% in June—But Number of Sales Steady - Decrypt
The total volume of Ethereum NFT trades has declined this month, partly due to the falling price of ETH, but traders are still trading.
💥 Tether (USDT) launches on Cosmos Ecosystem, following its launch on the OKC blockchain.
◾This will significantly reduce the user's USDT deposit and withdrawal costs on the OKX platform and improve the on-chain transfer experience.
◾This will significantly reduce the user's USDT deposit and withdrawal costs on the OKX platform and improve the on-chain transfer experience.
🚨 Binance will disable off-chain fund transfers between itself and WazirX on August 11.
GameStop Wallet version 0.6.9 adds ImmutableX Layer 2 support
This latest update, version 0.6.9, allows users to access their ImmutableX assets, send and receive goods, and connect to immutable-enabled dapps.
https://twitter.com/GameStopNFT/status/1556766458276974592?s=20&t=GhCvgLbsXNW9lt13le5ICQ
This latest update, version 0.6.9, allows users to access their ImmutableX assets, send and receive goods, and connect to immutable-enabled dapps.
https://twitter.com/GameStopNFT/status/1556766458276974592?s=20&t=GhCvgLbsXNW9lt13le5ICQ
Voyager Digital reportedly had deep ties with SBF-owned Alameda Research.
Financial documents of Voyager revealed that they lent nearly $1.6 billion in crypto loans to an entity registered in the British Virgin Islands, the same place Alameda is registered.
Financial documents of Voyager revealed that they lent nearly $1.6 billion in crypto loans to an entity registered in the British Virgin Islands, the same place Alameda is registered.
BabyDoge announced that the launch of its swap protocol would take place in a week.
The protocol will also include such features as farming and staking.
The team claims that it was the first swap to make it possible to swap tokens with zero fees.
https://u.today/testnet-of-babydoge-swap-to-go-live-next-week
The protocol will also include such features as farming and staking.
The team claims that it was the first swap to make it possible to swap tokens with zero fees.
https://u.today/testnet-of-babydoge-swap-to-go-live-next-week
U.Today
Testnet of BabyDoge Swap to Go Live Next Week
BabyDoge announced a testnet launch of its new swap protocol
Real Madrid and Barcelona have filed for a joint metaverse-related trademark application.
The application covers virtual reality and augmented reality software and games as well as virtual reality clothing, footwear, headgear, sportswear, and more.
The application covers virtual reality and augmented reality software and games as well as virtual reality clothing, footwear, headgear, sportswear, and more.
Do Kwon has said South Korean investigators looking into the collapse of Terra have not reached out to him.
He says he “literally didn’t think about even for one second” what would happen if Terra collapsed.
https://www.theblock.co/post/163521/south-korean-investigators-havent-reached-out-about-terra-collapse-says-do-kwon?utm_source=telegram1&utm_medium=social
He says he “literally didn’t think about even for one second” what would happen if Terra collapsed.
https://www.theblock.co/post/163521/south-korean-investigators-havent-reached-out-about-terra-collapse-says-do-kwon?utm_source=telegram1&utm_medium=social
The Block
South Korean investigators 'haven’t reached out' about Terra collapse, says Do Kwon
Do Kwon has said South Korean investigators looking into the collapse of Terra have not reached out to him and that he has never been in touch with them.
Celsius Network said a freshly-found $70 million pile of cash would likely help the firm continue operating through the end of 2022.
Crypto lender Celsius Network, which is going through bankruptcy proceedings, said a freshly-found $70 million pile of cash would likely help the firm continue operating through the end of 2022.
According to a document, filed Thursday by the firm’s legal partner Kirkland & Ellis for a lackluster third bankruptcy hearing in the U.S. Bankruptcy Court for the Southern District of New York, Celsius expects “approximately $70 million of proceeds from the repayment of USD denominated loans.”
During the hearing, a Kirkland & Ellis lawyer said the loans were mistakenly believed to be in dollar-pegged stablecoins, which the lender would not have been able to use to finance its operations.
The extra money means a much-needed boost to Celsius’ scarce liquidity and will extend its runway to pay its business and restructuring costs as it seeks to find a more durable solution to its cash crunch problem. The firm’s costs far exceed its proceeds from its bitcoin mining operation, which is not yet profitable.
According to the Celsius’ provision, it expects to receive the majority of the repayment by October 7. The forecast shows that its disposable cash balance will stand at $42 million by the end of November. Extrapolating its weekly net cash flows, the cash pile will only barely last through the end of this year.
The company initially forecasted – without accounting for the loan repayments – that it would run out of cash by October. It later revised its forecast to say it would probably survive till the end of the year, citing $61 million in loans maturing. The document that contains the latest cash flow forecast declared a slightly greater figure than that, $70 million.
The troubled lender found itself in the middle of a recent insolvency crisis in the crypto industry. The firm filed for Chapter 11 bankruptcy protection in July and later revealed it was $2.8 billion short of crypto holdings that it owed to its customers.
Crypto lender Celsius Network, which is going through bankruptcy proceedings, said a freshly-found $70 million pile of cash would likely help the firm continue operating through the end of 2022.
According to a document, filed Thursday by the firm’s legal partner Kirkland & Ellis for a lackluster third bankruptcy hearing in the U.S. Bankruptcy Court for the Southern District of New York, Celsius expects “approximately $70 million of proceeds from the repayment of USD denominated loans.”
During the hearing, a Kirkland & Ellis lawyer said the loans were mistakenly believed to be in dollar-pegged stablecoins, which the lender would not have been able to use to finance its operations.
The extra money means a much-needed boost to Celsius’ scarce liquidity and will extend its runway to pay its business and restructuring costs as it seeks to find a more durable solution to its cash crunch problem. The firm’s costs far exceed its proceeds from its bitcoin mining operation, which is not yet profitable.
According to the Celsius’ provision, it expects to receive the majority of the repayment by October 7. The forecast shows that its disposable cash balance will stand at $42 million by the end of November. Extrapolating its weekly net cash flows, the cash pile will only barely last through the end of this year.
The company initially forecasted – without accounting for the loan repayments – that it would run out of cash by October. It later revised its forecast to say it would probably survive till the end of the year, citing $61 million in loans maturing. The document that contains the latest cash flow forecast declared a slightly greater figure than that, $70 million.
The troubled lender found itself in the middle of a recent insolvency crisis in the crypto industry. The firm filed for Chapter 11 bankruptcy protection in July and later revealed it was $2.8 billion short of crypto holdings that it owed to its customers.
CoinDesk
Crypto Lender Celsius Network Says $70M Cash Relief Will Bolster Efforts to Survive the Year
The extra cash from loan repayments, previously believed to be in stablecoins, means a much needed boost for the cash-strapped lender.
3AC withdraws $45 million from Curve and Convex
Troubled crypto hedge fund Three Arrows Capital (3AC) has reclaimed $45 million in deposits it had previously staked on two different decentralized exchanges: Curve and Convex Finance.
At 4:34 am ET on Tuesday, the firm withdrew 20,945 staked ether (stETH), worth $33.3 million, from Curve Finance, according to on-chain activity on an Ethereum address that Nansen has marked as belonging to 3AC. Staked ether is token offered by Lido Finance that allows staked ether (ETH) to be used in other trades in a process known as liquid staking.
On-chain data also shows the firm took out funds from Convex Finance, a yield optimizer for Curve. From Convex, it withdrew nearly $12 million worth of crypto, including 2,421 wrapped ether (3.98 million) 202.7 wrapped bitcoin ($4 million) and 4,051,367 USDT stablecoin.
The assets currently sit in the same wallet address used to transact with Curve. This address holds assets worth a total of $57.86 million. Crypto derivatives firm 21 Shares says that 3AC holds $86.8 million in tokens and NFTs holdings on Ethereum across several addresses tied to the firm.
Earlier this summer, the collapse of Three Arrows Capital sent the crypto space into chaos and caused many of its lenders to suffer heavy losses. The Block reported that the firm had owed creditors more than $3.5 billion. The fund filed Chapter 15 bankruptcy in New York on July 1.
While social media commentators have speculated that the firm may be looking to liquidate its holdings to pay off creditors, the purpose of today's withdrawals is unclear.
Troubled crypto hedge fund Three Arrows Capital (3AC) has reclaimed $45 million in deposits it had previously staked on two different decentralized exchanges: Curve and Convex Finance.
At 4:34 am ET on Tuesday, the firm withdrew 20,945 staked ether (stETH), worth $33.3 million, from Curve Finance, according to on-chain activity on an Ethereum address that Nansen has marked as belonging to 3AC. Staked ether is token offered by Lido Finance that allows staked ether (ETH) to be used in other trades in a process known as liquid staking.
On-chain data also shows the firm took out funds from Convex Finance, a yield optimizer for Curve. From Convex, it withdrew nearly $12 million worth of crypto, including 2,421 wrapped ether (3.98 million) 202.7 wrapped bitcoin ($4 million) and 4,051,367 USDT stablecoin.
The assets currently sit in the same wallet address used to transact with Curve. This address holds assets worth a total of $57.86 million. Crypto derivatives firm 21 Shares says that 3AC holds $86.8 million in tokens and NFTs holdings on Ethereum across several addresses tied to the firm.
Earlier this summer, the collapse of Three Arrows Capital sent the crypto space into chaos and caused many of its lenders to suffer heavy losses. The Block reported that the firm had owed creditors more than $3.5 billion. The fund filed Chapter 15 bankruptcy in New York on July 1.
While social media commentators have speculated that the firm may be looking to liquidate its holdings to pay off creditors, the purpose of today's withdrawals is unclear.
Tether has been ordered by a U.S. Judge in New York to produce financial records relating to the backing of USDT
The order relates to an ongoing lawsuit that alleges that unbacked USDT issuances have caused $1.4 trillion in damage to the market.
https://www.coindesk.com/markets/2022/09/21/stablecoin-issuer-tether-ordered-to-produce-documents-showing-backing-of-usdt/
The order relates to an ongoing lawsuit that alleges that unbacked USDT issuances have caused $1.4 trillion in damage to the market.
https://www.coindesk.com/markets/2022/09/21/stablecoin-issuer-tether-ordered-to-produce-documents-showing-backing-of-usdt/
CoinDesk
Stablecoin Issuer Tether Ordered to Produce Documents Showing Backing of USDT
The order relates to a lawsuit that alleges unbacked USDT issuances have caused $1.4 trillion in damage to the market.
September’s exchange trading volume jumped to $733 billion, or a 16% month-over-month increase.
It was the first notable jump in crypto exchange trading volume since April and May of this year.
https://www.theblock.co/post/174320/crypto-exchange-volumes-grew-16-in-september-after-a-3-month-lull?utm_source=telegram1&utm_medium=social
It was the first notable jump in crypto exchange trading volume since April and May of this year.
https://www.theblock.co/post/174320/crypto-exchange-volumes-grew-16-in-september-after-a-3-month-lull?utm_source=telegram1&utm_medium=social
The Block
Crypto exchange volumes increase 16% in September after 3-month lull
September's increase was the first notable jump in crypto exchange trading volume since April and May of this year.
🔔 The ApeCoin DAO is considering whether to push back the launch of NFT and ApeCoin (APE) staking in order to allow for a bug bounty program.
◾️The bounty program would allocate 1 million APE ($4.5 million) to potential bounties.
◾️Holders of Bored Apes and Mutant Apes will be able to stake their NFTs and large amounts of ApeCoin in order to receive staking rewards.
◾️Over the next three years, 175 million ApeCoin ($794.5 million) will be distributed to stakers.
◾️The bounty program would allocate 1 million APE ($4.5 million) to potential bounties.
◾️Holders of Bored Apes and Mutant Apes will be able to stake their NFTs and large amounts of ApeCoin in order to receive staking rewards.
◾️Over the next three years, 175 million ApeCoin ($794.5 million) will be distributed to stakers.
Liquidations of the Solana whale account (3oS…RbE) have been occurring, the whale has 2.5M $SOL ( worth over $51M) in collateral and $44 Million USDC in debt.
Solana Whale is in liquidation and currently has 2,450,418.5 SOL (worth over $51 million) in collateral and 44,871,609.6 USDC in debt. However, Solana is currently facing congestion due to the update of the oracle.
Solana Whale is in liquidation and currently has 2,450,418.5 SOL (worth over $51 million) in collateral and 44,871,609.6 USDC in debt. However, Solana is currently facing congestion due to the update of the oracle.
Liquidity for stablecoin swaps on the Curve 3pool is now at its lowest level since the Luna collapse in May as traders continue to swap Tether’s USDT for other stablecoins
The Block
Stablecoin liquidity on Curve's 3pool falls to lowest level since Luna crash
Tether’s dominance of the Curve 3pool has risen to 86% amid massive swaps from USDT to stablecoins like USDC and DAI.
A collapse of FTX could set the industry back seven or eight years or even longer, according to 3AC founder Zhu Su.
https://www.bloomberg.com/news/articles/2022-11-22/fallen-hedge-fund-3ac-s-founder-says-ftx-set-crypto-back-years?utm_campaign=socialflow-organic&utm_medium=social&utm_source=twitter&utm_content=crypto
https://www.bloomberg.com/news/articles/2022-11-22/fallen-hedge-fund-3ac-s-founder-says-ftx-set-crypto-back-years?utm_campaign=socialflow-organic&utm_medium=social&utm_source=twitter&utm_content=crypto
Bloomberg.com
Fallen Hedge Fund Three Arrows Capital’s Founder Says FTX Set Crypto Back Years
A string of high-profile crypto crises could set the industry back by almost a decade, according to the co-founder of Three Arrows Capital, whose June implosion was one of the largest hedge-fund trading busts.
ConsenSys says it collects the IP addresses and wallet address information of those who access the Ethereum wallet MetaMask via the blockchain infrastructure service Infura.
https://www.theblock.co/post/189717/consensys-says-it-collects-ip-addresses-of-metamask-users-via-infura
https://www.theblock.co/post/189717/consensys-says-it-collects-ip-addresses-of-metamask-users-via-infura
The Block
ConsenSys says it collects IP addresses of MetaMask users via Infura
ConsenSys has updated its privacy policy, stating that it collects IP addresses and wallet addresses of some MetaMask users.