El Salvador's Debt Rating Cut to CC at Fitch
Ratings company Fitch downgraded El Salvador's long-term foreign currency issuer default rating (IDR), saying it is likely to default on a bond repayment due January. Original Source
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Debt
El Salvador Launches 2 Debt Repurchase Offers Amid Uncertainty Over Its Bitcoin Bond
In July, when El Salvador’s President Nayib Bukele presented the repurchase plan, it was seen as an attempt to counter speculation about a potential default by El Salvador, amid strained relations between the Central American country and the traditional credit market, particularly after El Salvador established bitcoin as legal tender
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Rome’s Financial Volatility to Shock the Eurozone — Hedge Funds Bet $39 Billion Against Italian Debt – Economics Bitcoin News
Hedge funds are betting against Rome’s liabilities as S&P Market Intelligence data indicates investors have amassed a $37 billion short bet against Italian debt. The hedge funds are betting large against Italian bonds and investors haven’t bet this high against Rome since 2008, as Italy faces political uncertainty, an energy
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Step aside, Warren Buffett; stablecoin issuers hold more US debt than Berkshire Hathaway
Warren Buffett raised eyebrows this week when his firm, Berkshire Hathaway, upped its exposure to United States Treasury bills. If you’re one of the few remaining bulls out there, Buffett’s flight to safety is concerning because it signals that the Oracle of Omaha would rather get a 3% yield instead
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Stablecoin issuers hold more US debt than Berkshire Hathaway: Report
Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players.Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan, The Financial
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Nearly $55M worth of Bored Ape, CryptoPunks NFTs risk liquidation amid debt crisis
Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks nonfungible tokens (NFTs), who used them as collateral to take out loans in Ether (ETH), have failed to repay their debts. The situation could lead up to the NFT sector's first massive liquidation event.gm.As a result of the floor dropping
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Bitcoin Miner Stronghold Digital in Debt Restructuring Negotiations With Lenders
"This delay principally relates to the Company’s ongoing negotiations of potentially material transactions with its lenders to restructure or refinance certain financing agreements in order improve the Company’s financial position, and for the Company to be able to continue as a going concern for at least the next 12 months,"
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Crypto Mining Hosting Firm Applied Blockchain Adds $15M Loan to Pay Off Debt, Fund Growth
Debt has been a sore spot for some crypto miners, some of whom have faced margin calls on their loans as the value of their collateral, usually bitcoin or equipment, has diminished during the past few months' market rout. However, given the capital heavy nature of the mining business, raising
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Argo Blockchain keeps cashing out BTC to pay the debt to Galaxy Digital
Cryptocurrency mining firm Argo Blockchain continues to sell its Bitcoin (BTC) holdings to cut its debt to Michael Novogratz’s crypto investment firm Galaxy Digital.Argo sold another 887 Bitcoin in July to reduce obligations under a BTC-backed loan agreement with Galaxy Digital, the firm announced on Friday.With the average BTC price
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Zipmex gradually resuming Z Wallet withdrawals, says debt moratorium is not bankruptcy
Crypto exchange Zipmex, which operates in Thailand, Indonesia, Singapore and Australia, released a statement this week denying reports that it has filed for bankruptcy and announcing its progress in resuming withdrawals from its Z Wallets. Zipmex customers can withdraw Solana (SOL) from their wallets Tuesday and will be able to withdraw
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