Crypto lender Celsius has gone on the offensive against former staking and DeFi strategy associate KeyFi and its CEO, which had sued it a week before it went bankrupt. Bankrupt crypto lending company Celsius countersued decentralized finance (DeFi) protocol KeyFi and its CEO Jason Stone on Tuesday in the United States Bankruptcy Court claiming Stone…
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Majority of the DeFi tokens traded in red with several registering double digit losses over the past week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, Celsius’s financial troubles mounted further as a new…
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There are signs of further turbulence ahead. The absence of a BTC futures premium, $470 million in liquidations and excessive stablecoin lending all point toward new yearly lows. On Friday, August 19, the total crypto market capitalization dropped by 9.1%, but more importantly, the all-important $1 trillion psychological support was tapped. The market’s latest venture…
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Singaporean law offers temporary protection against any legal proceedings and claims, which the company believes would provide a breathing space to focus on its recovery plan. Singapore-based crypto lending platform Hodlnaut is seeking judicial management to manage its ongoing liquidity crisis and avoid the forced liquidation of assets in the current bear market. The crypto…
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The latest findings could brew more trouble for the crypto lender for allegedly misleading and offering incorrect details in the court documents. A new bankruptcy coin report filed on Sunday shows that troubled crypto lender Celsius’ actual debt stands at $2.85 billion against their bankruptcy filing claims of a $1.2 billion deficit. The latest report…
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Hodlnaut avoided 3AC exposure and earlier denied ever buying UST, but several reports and on-chain data have shown that the lending firm at one point owned over $150M worth of UST. Singapore-based crypto lending platform Hodlnaut has become the latest firm to suspend withdrawals, and deposits blaming market conditions and lack of liquidity. The crypto…
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Troubled crypto lender Voyager Digital said it plans to “restore access” to cash deposits in USD this week. Here’s what the process might look like. In a Friday blog post, Voyager said clients with cash in their accounts would be able to withdraw up to USD 100,000 in a 24-hour period starting as early as…
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It’s every crypto investor’s worst nightmare, depositing money with a platform that later goes bust, making it all but impossible to recover funds. It’s also bad enough investing in the native token of any such platform, the collapse of which will send that token plummeting to Earth like a lead balloon…. Read More: How to…
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Decentralized money markets function without a custodian, allowing only the original user to withdraw funds deposited by lenders and borrowers. The seamless flow of capital between borrowers and lenders is a key aspect of a vibrant economy. Anyone with an extra asset can lend it to put their idle capital to work, while people needing…
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The lending firm said clients with U.S. dollars in their accounts could withdraw up to $100,000 in a 24-hour period, with the funds received in 5–10 business days. Crypto lender Voyager Digital Holdings has reported users may be able to make cash withdrawals from the app more than a month after suspending trading, deposits, withdrawals…
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