Avalanche Withdraws From Three Arrows Capital Amid Liquidation Concerns
The hedge fund Three Arrows Capital liquidation issues saw Avalanche pulling away from the firm as it stated on Friday that it has little exposure to it. Avalanche mentioned in a tweet that Three Arrows never had any influence over Avalanche’s treasury funds. The comments come as Three Arrows’ positions face potential liquidation as the […]
The world’s most expensive modern postage stamp launches in UAE
To commemorate the 50th anniversary of the country’s founding, the United Arab Emirates has issued the world’s most expensive modern postage stamp. The first issue of the modern postage stamp was released in four editions by the Emirates Post Grou p, a government-owned post agency. A digital version of each physical stamp in the collection […]
Tether’s USDT market cap dips for an 8-month low
During the current market downturn, Tether (USDT), the largest stablecoin and third-largest digital currency by market capitalization continue to lose value dipping below $70B in the last 8 months. USDT’s market cap fell below $70 billion for the first time since October 2021 on June 16. The slump came following a string of losses that […]
BIS warns about threat in crypto mining
According to a new analysis by the Bank for International Settlements (BIS) concentrating on frequent wrongdoing in the crypto mining sector, miners on the Ethereum blockchain have taken about $600 million from other investors since 2020. “Miners as intermediaries: extractable value and market manipulation in crypto and DeFi, ” a BIS bulletin published on June […]
MakerDAO Adopts An Alternative As Ethereum (stETH) Falls
MakerDAO moves to cut stETH exposure by approving Rocket Pool ETH (rETH) as the new alternative. Following the de-peg of stETH, MakerDAO approved a proposal on Friday to adopt an alternative to Lido-Staked Ethereum (stETH) as collateral. The platform authorized Rocket Pool ETH (rETH) as a new vault type, or collateral, in a governance proposal that […]