Cryptocurrency Analysis and News Portal
“Crypto liquidity is dominated by just a handful of trading firms, including Wintermute, Amber Group, B2C2, Genesis, Cumberland, and (the now-defunct) Alameda. With the loss of one of the largest market makers, we can expect a significant drop in liquidity, which we will call the “Alameda Gap,” Kaiko wrote in
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Hundreds of people have lost their jobs at companies owned by crypto venture capital firm Digital Currency Group (DCG), as the long crypto winter, made colder by the FTX collapse, continues to affect the sector. Amid the recent layoffs, London-based cryptocurrency exchange Luno announced on Jan. 25 a reduction of 35%
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An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF,
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Never underestimate how quickly things can deteriorate in a sector as volatile as crypto, especially in a bear market. Prices can always go lower in the depts of crypto winter and casualties can multiply overnight. 2022 has been a year of never-ending contagion; with everyone focused on Binance, high-profile Bitcoin
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Amber has completed a new $300 million Series C funding round, led by blockchain-focused venture capital company Fenbushi Capital US, the firm announced on Twitter on Dec. 15.The new funding round comes as Amber has decided to pause its previous Series B funding and proceed with Series C instead due
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The round was led by Fenbushi Capital U.S., and other crypto investors and family offices, the firm said on Twitter. Singapore's investment fund Temasek, heavyweight venture capital firm Sequoia Capital China and Coinbase Ventures have previously invested in Amber Group, according to information platform Crunchbase. Source
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Orthogonal Trading’s insolvency, triggered $31 million of loans in the credit pool to default this week. The bad debt represents 80% of the credit pool’s outstanding loans. When Sherlock invested in the pool, however, Orthogonal’s borrowings only accounted for 14% of the pool’s loans. Source
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Shortly after Orthogonal got served with default notices on $36 million of crypto loans from Maple Finance, the firm’s credit team published a statement saying it was “speechless” and unaware of the extent of the trading team’s exposures. Source
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However, more Nexus funds appear to be endangered. Orthogonal Trading’s defaulted debt on Maple’s wrapped ether credit pool amounts to some $5 million (3,900 wETH). On top of that, embattled market maker Auros Global failed to repay a $3.1 million (2,400 wETH) loan and has another $7.5 million (6,000 wETH)
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Miami’s annual Art Basel festival, now in its 20th year, connects galleries, artists and collectors to create unique artist-led experiences and bolster local art scenes. This year, the event welcomed over 76,000 attendees from 88 countries in the first week of December. Original Source
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