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Big declines across the board prompted over $307 million in liquidations of leveraged crypto long positions – bets on higher prices – over the past 24 hours, data from CoinGlass shows. This was the largest amount of liquidated longs in a day since August 17, when bitcoin (BTC) plunged from
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Crypto lender Hodlnaut’s days appear to be numbered after the High Court of Singapore ended judicial management and ordered its liquidation. Users’ funds have been frozen since August 2022. Former Hodlnaut interim judicial manager (IJM) Aaron Loh Cheng Lee announced in a letter dated Nov. 10 and posted on the website
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“The prior plan provided for the sale of assets of the debtors and a non-debtor affiliate, a discharge of the debtors, and the reorganization of any unsold assets for the benefit of the claim holders,” said Harrington, a Department of Justice official with responsibility for bankruptcy cases. “The liquidating plan
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The Ethereum price saw a notable price plunge on Monday when the Ethereum Foundation reportedly started selling coins. This plunge, in turn,
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The sale of tokens won’t flood the market because liquidations are bound by sell limits, the report said. Source
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The global crypto market cap is rising despite the US Consumer Price Index (CPI) coming higher than expected and FTX’s liquidation approval. According to a report by CNN, data from the US Bureau of Labor Statistics shows the CPI, used to measure inflation in the country, registered a 0.6% hike in
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This week’s quick plunge and rebound in cryptocurrency prices triggered $256 million in liquidation losses, Coinglass data shows. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Growing operational costs, lack of trust, and legal scrutiny mark massive losses for crypto market makers. The once lucrative crypto market making sector is navigating choppy waters, with soaring operational costs and a $2 trillion market slump.
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Silvergate CEO Alan Lane and two other key executives are set to depart from their positions amid a wind-down of the once crypto-friendly bank.Lane and the firm’s chief legal officer John Bonino will depart on Aug. 15, while Antonio Martino, chief financial officer of the company, will depart on Sept.
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Customers of Auckland, New Zealand-headquartered crypto exchange Dasset have been denied access to their funds, and the company’s representative has revealed the beginning of its liquidation. On Aug.14, local media outlet The Herald reported on the exchange’s troubles. According to the report, some customers have unsuccessfully tried to withdraw their funds for
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