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Singapore-based Bybit bought almost a third of the 16 billion won of convertible debt T-Scientific issued at the end of last month. T-Scientific (057680) is listed on the South Korean stock exchange. Convertible debt is a fixed-income security that pays interest, but can be converted into equity under certain conditions. Original
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The news comes after Wintermute's DeFi operation suffered a $160 million hack in late September, one of the largest hacks in recent months. At the time, Wintermute’s outstanding DeFi debt amounted to $200 million, CoinDesk reported earlier. Evgeny Gaevoy, the firm’s CEO, said then the company remained solvent after the
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The end of Stronghold's deal with Northern Data will eliminate all profit sharing obligations, which it estimates would have been $10 million-$25 million (depending on the price of bitcoin) until September 2024, according to a statement on Friday. The cash outflow under the previous deal would be about 35% of
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"Defaults are ordinary course in this asset class and critically important to refining risk parameters and pricing over time," Roshan Dharia, head of lending at Archblock, a core TrueFi contributor which oversees borrower relationships on the protocol, told CryptoX. "We have historically been heavily focused on borrower counterparty risk, asset
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To date, Step has now raised over $500 million in equity and debt financing. Financial backers have included Crosslink Capital, payments firm Stripe, Coatue, General Catalyst, TikTok star Charl D’Amelio, actor Will Smith, and musicians Justin Timberlake and The Chainsmokers, among others. Source
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Hacker proposes to send back stolen MSOL, SOL, and MNGO if Mango Finance promises to pay back bad debt using USDC available in its treasury. Original Source
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U.S. Senator Cynthia Lummis says she loves that bitcoin cannot be stopped and that governments cannot just confiscate the cryptocurrency. “It’s actually comforting to know that bitcoin is there,” she said, citing concerns about the national debt and inflation. U.S. Senator: Bitcoin Is Something Governments Cannot Take U.S. Senator Cynthia Lummis (R-WY)
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I ruminated on this project for months before starting and I quickly realized that not only is the stigma behind having student loan debt building on a principal shame of not having enough money to support one's self during college, but there's also added shame in disclosing just how much
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“This is really how we resolve this, how we get out,” Oren Blonstein, Celsius’ chief compliance officer, told employees at the meeting. “What we do in this pivotal moment can be through unprecedented, really innovative solutions and this [plan] is one of them.” Original Source
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Cryptocurrency market maker Wintermute has $200 million in outstanding DeFi debt to several counterparties, according to data provided by Nansen. Source
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