Bitcoin
Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images The co-founders of failed crypto hedge fund Three Arrows Capital appear to be on the run from creditors, according to court documents recently filed in New York. Lawyers representing the creditors say the physical whereabouts of Zhu […]
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From $10 billion to zero: How a crypto hedge fund collapsed and dragged many investors down with it
As recently as March, Three Arrows Capital managed about $10 billion in assets, making it one of the most prominent crypto hedge funds in the world. Now the firm, also known as 3AC, is headed to bankruptcy court after the plunge in cryptocurrency prices and a particularly risky trading strategy combined to wipe out its […]
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Bitcoin heads toward best week since October as crypto collapse stabilizes
The value of bitcoin exceeded the threshold of $66,895 in October for the first time in history. Chesnot | Getty Images The price of bitcoin got a small relief bounce this week as investors hoped that the worst of the crypto liquidity crisis is over. By Friday, bitcoin had risen about 11% for the week […]
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Embattled crypto lender Celsius is a ‘fraud’ and ‘Ponzi scheme,’ lawsuit alleges
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.” Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Crypto […]
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World’s largest bitcoin fund slams the SEC, sues over crypto ETF rejection
Digital currency asset manager Grayscale is in a legal fight with the U.S. Securities and Exchange Commission over its latest rejection of the company’s prospective spot bitcoin exchange-traded fund. Last Wednesday, the SEC denied Grayscale’s application to convert its bitcoin trust to a spot ETF. The company filed a lawsuit the same day. Grayscale Bitcoin […]
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Mike Novogratz says most of the crypto carnage is done, but prices could be stuck for a while
Galaxy Digital CEO Mike Novogratz said crypto doesn’t have much further to fall, but it could remain in choppy sideways trading before new capital enters the space. Cryptocurrency prices have been tumbling all year with other risk assets as the Federal Reserve began raising interest rates to fight persistently high inflation. The price of bitcoin […]
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Underwater bitcoin miners are turning up the selling pressure on crypto
Bitcoin prices have fallen so low that the cryptocurrency’s miners have become sellers, further pressuring the already downcast market. Recent data shows an increase in the amount of bitcoin moved by miners from the mining pool to crypto exchanges in June, as the price of the cryptocurrency slid from $30,000 to $20,000, according to CryptoQuant. […]
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Billions in bitcoin trapped on lending platforms like Celsius may turn into a tax writeoff for investors
Crypto lending platforms like Celsius, Anchor, and Voyager Digital rose to prominence for offering almost unbelievable returns of up to 20% annually on customer deposits. Now, much of that crypto cash is trapped, as plunging token prices force platforms to temporarily suspend or limit withdrawals. In the wake of its own solvency crisis, Celsius — […]
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Another crypto lender Vauld pauses withdrawals as market crash takes its toll
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Crypto lender Vauld on Monday paused all […]
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Bitcoin Family say they lost $1 million on their investment this year, but sold a lot at peak
‘Bitcoin Family’ opens a bitcoin beach bar in Lagos, Portugal Didi Taihuttu The “Bitcoin Family” is down more than $1 million on their bitcoin investment since the world’s most popular digital coin peaked at around $69,000 in Nov. 2021 — but patriarch Didi Taihuttu is as bullish as ever. “I’m buying bitcoin daily,” Taihuttu told […]
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