There is a reason centralized exchanges have dominated despite being antithetical to crypto’s core tenets. The following opinion editorial was written by Bitcoin.com CEO Dennis Jarvis. The gross mismanagement and outright fraud in 2022 by many opaque centralized exchanges are driving people back to the core tenets of crypto, such as decentralization, self-custody, transparency, and…
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“During 2022, Bitfarms began taking proactive actions to increase financial flexibility and to reduce indebtedness and capital expenditure obligations,” according to CFO Jeff Lucas. Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market. On…
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Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG orchestrated a “campaign of lies” in…
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Before FTX collapsed it was assumed that Alameda Research was one of the top quantitative trading firms and market makers within the industry. However, much of that perception may have been a facade as a recent report details that Alameda suffered from financial troubles as early as 2018. People familiar with the matter said Alameda…
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Cryptocurrency exchange Binance has set out to support crypto miners through a lending program established by its mining pool. Presenting the initiative this week, the coin trading platform also unveiled that Binance Pool intends to launch cloud mining products. Leading Exchange Binance Looking to Help Bitcoin Miners in Difficult Times for Crypto Business Binance, the…
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After repayment of TrueFi’s $92 million loan, Wintermute still owes $97.4 million to Maple Finance and Clearpool in loans. When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest…
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Over 98% of voting tokens favor the deal, which also stipulates that Mango Markets won’t pursue criminal charges. Following a $117 million exploit on Oct. 11, the Mango Markets community is set to make a deal with its hacker, allowing the hacker to keep $47 million as a bug bounty, according to the decentralized finance (DeFI)…
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TrueFi does not expect Blockwater Technologies’ default to affect its stablecoin lending pools or capital market portfolios. On Oct. 10, unsecured lending protocol TrueFi issued a default notice to Blockwater Technologies for missing a scheduled payment related to its $3.4 million Binance USD (BUSD) loan, the first declared default on the platform to date. According to…
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The institutional lending platform has facilitated $1.8 billion worth of digital currency loans since May 2021. On Tuesday, institutional crypto lending protocol Maple Finance and its delegate Icebreaker Finance announced that they would provide up to $300 million worth of secured debt financing to public and private Bitcoin mining firms. Qualified entities meeting treasury management…
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With liquidity drying up in the wake of CeFi contagion, borrowers are turning to decentralized finance for their credit needs. Netherlands-based crypto investment firm Maven 11 has launched its third lending pool on Maple Finance, giving borrowers access to liquidity amid the bear market. The $30 million pool financed by institutional lenders will be utilized…
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