Law Decoded, June 13–20: Celsius exodus and liquidity crisis
American platform became the first one to freeze the withdrawal operations, but might not be the last Last week, the Celsius Network wrote its name in the alarming recent history…
BTC Markets becomes first Australian crypto firm to get a financial services license
While the license isn’t currently needed for crypto companies in Australia, BTC Markets says it is preparing the exchange for upcoming regulations, which may help it gain other complementary certifications.…
Crypto lending platform Babel Finance reaches counterparty debt agreement
The firm emphasized that it will “actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks.” Hong Kong-based crypto lending firm Babel…
Crypto winter freezes sports sponsorships for digital asset firms
The crypto market downturn has made it difficult for crypto firms to pull the trigger on any new sponsorship deals with the sports teams they spent hundreds of millions on…
Coinbase Lays Off One-Fifth Of Employees Amid Falling Market Prices
Following major selloffs, the cryptocurrency market has lost billions of dollars in recent weeks. To deal with the current recession, certain exchanges, including Coinbase, Gemini, and Crypto,com, have announced layoffs.…
Cardano Mithril Update – Over 1000 projects to be built
Cardano (ADA) blockchain is growing rapidly. They have more advancements coming up in the future. Cardano developers Input-Output Global announced that 1,003 projects are being developed for the blockchain amongst…
Microstrategy is Still Buying Bitcoin: Michael Saylor tells CNBC
The cryptocurrency bitcoin has seen a 70% drop in recent days. Michael Saylor, the CEO of MicroStrategy, has not regretted his decision to turn his company into a highly leveraged…
Top Altcoins to Buy in the Crypto Crash as Alt/BTC price show an Uptick
The impact of last week’s crash seems to be in the recovery mode. Bitcoin is once again above $20k levels, and the crypto news we have been reading since the…
China’s WeChat bans crypto and NFT-related accounts
The policy also covers secondary NFT trading as the firm notes that “accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt…
Deutsche Bank Expects Sooner, More Severe US Recession as the Fed Takes ‘Aggressive Hiking Path’
Deutsche Bank has updated its recession forecast. The bank’s economists now see “an earlier and somewhat more severe recession” than previously predicted. “The Fed has undertaken a more aggressive hiking…
President Biden Insists US Recession Is Not Inevitable — Treasury Secretary Yellen Concurs
President Joe Biden and Treasury Secretary Janet Yellen say that a U.S. recession is not inevitable, dismissing the concerns of many economists who have predicted an upcoming recession. In addition,…
SEC Chair Warns of ‘Too Good to Be True’ Crypto Products — US Treasury Calls for Urgent Regulation
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned the public about crypto investments that seem “too good to be true.” Meanwhile, the U.S. Treasury…
Ethereum testnet Beacon Chain launched and ready for trial merge
The Sepolia testnet is the next in line after Ropsten to undergo a merge trial run since its Beacon Chain is now live and ready to give developers valuable information…
Bancor pauses impermanent loss protection citing ‘hostile’ market conditions
Veteran DeFi protocol Bancor came under heavy scrutiny for pausing the impermanent loss protection program at a time when liquidity providers need it the most. Bancor, a decentralized finance (DeFi)…
What decentralization? Solana lender Solend approves whale wallet takeover to avoid DeFi implosion
There’s more trouble in DeFi as Solend launches a spur-of-the-moment move to crack into a whale’s wallet. On Sunday, the decentralized finance (DeFi) sector came under scrutiny again after Solend,…