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The auction for parts of bankrupt Singaporean cryptocurrency hedge fund Three Arrows Capital’s (3AC) nonfungible tokens (NFT) collection fetched $2.5 million at its conclusion on May 19.Facilitated by fine arts broker Sotheby’s, collectibles on sale included Tyler Hobbs Fidenza #725, Larva Labs Autoglyph #187 and Tyler Hobbs Fidenza #861. The highest
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On April 30, 2023, Pakistan's Dawn newspaper reported that banks have formally warned customers against using debit or credit cards for crypto trading. But Dawn also said that cryptocurrencies are gaining increasing popularity in the nation with the annual trading volume for Pakistan-based wallets going up to $25 billion, up
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Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is largely driven by credit card usage. Druckenmiller, a seasoned investment mogul, warns that
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In doing so, Polychain, one of the oldest and richest crypto hedge funds, seemingly thumbed its nose at a slightly risky arbitrage trade that could end up paying millions of dollars more. It is forgoing the opportunity to redeem its ROOK tokens via the “rage quit” smart contract, where it
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"Some argue that crypto assets could be in demand in a high-interest rates/high inflation environment because they could serve as a store of value. We think the track record for crypto is too short to prove this," the New York-based agency added, drawing attention to bitcoin's (BTC) weak correlation with
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The open letter escalated a fight already being waged between Aragon, a crypto governance project building tools for decentralized autonomous organizations (DAOs), and a tight-knit group of activist investors critical of project leadership and demanding they give disenchanted investors an exit ramp. Original Source
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The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago.On May 3 the Securities and Exchange Commission (SEC) published amendments to Form
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“The SEC is a regulator that requires transparency from its registrants, but it is continuing to withhold regulatory clarity by not defining digital assets,” said Anne-Marie Kelley, a partner at Mercury Strategies who was a longtime SEC official. She suggested the commission may have deleted the definition because “any recognition
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The total value of NFTs held by Three Arrows Capital (3AC) is $2.4 million. The Grails NFT collection includes NFTs from some popular Web3 projects as well as from some of the most notable artists. On Wednesday, April 19, the popular London-based auction house Sotheby’s announced that it will facilitate the
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AWR, which is based in London, will become a market maker at one of Japan's largest FX and digital assets exchanges, GMO Coin, a subsidiary of GMO Financial Holdings, AWR said. Market makers are entities tasked with providing liquidity on an exchange by creating buy and sell orders. Source
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