Cryptocurrency Analysis and News Portal
On-chain data shows that a wallet linked to Celsius repaid the remaining $41.2 million of the loan in DAI, the Maker protocol's stablecoin. That prompted the Maker protocol to release 21,962 wrapped bitcoins (WBTC), a bitcoin equivalent token of the Ethereum blockchain, which was pledged as collateral of the loan.
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Crypto miners have been selling bitcoin as their revenues have slumped along with the bear market. The firm said that it has been using derivatives to limit downside risk since fourth-quarter 2021, and hired a full-time trader to improve its "capabilities within risk and treasury management." Source
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Celsius has been at the center of most crypto controversies in the last month. The lending platform had had to pause withdrawals, transfers, and swaps on its platform, citing extreme market conditions as the reason, but that was only the beginning of its troubles. However, Celsius looks to be taking
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It’s been another day of watching the ripples of contagion spread through the crypto market. With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the fallout from the insolvency was partly to blame
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Crypto miner Bitfarms (BITF) raised $34 million with the sale of 1,500 bitcoin (BTC), applying those funds to trim a credit-backed facility from Galaxy Digital (GLXY.TO) to $66 million from $100 million. Alongside, the company entered a new $37 million equipment financing deal with NYDIG. Original Source
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Summary: Bitcoin’s drop to a local low of $22,600 has rekindled discussions surrounding MicroStrategy’s possible margin call on its $205 million loan if Bitcoin drops below $21k. However, MicroStrategy’s CFO had in early May clarified that the company was ready to post more Bitcoin collateral for the loan. Michael Saylor had also pointed
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Quick take: Michael Saylor has clarified that MicroStrategy can collateralize its $205 million loan from SilverGate bank with its 115,109 Bitcoin holdings He also added that Microstrategy could post ‘some other type’ of collateral if Bitcoin fell below $3,562 There have been a lot of murmurs about Microstrategy getting a margin call on
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The Alborz JV will use the proceeds to purchase S19j Pro mining rigs for its 40 megawatt data center in Texas. Original Source
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America’s largest crypto exchange Coinbase has been revealed as the mystery firm that took out Wall Street’s first Bitcoin-backed loan from Goldman Sachs.Goldman Sachs has $2.5 trillion assets under management as of 2021.Bloomberg reported on Tuesday that the Bitcoin-backed loan issued by Goldman had been taken out by Coinbase as
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Prominent trading firm Jane Street has made its first stride into decentralized finance (DeFi), borrowing $25 million in USDC from BlockTower Capital via DeFi marketplace Clearpool, with plans to eventually increase that amount to $50 million, Clearpool confirmed in a press release Tuesday. Bloomberg first reported on the news. Source
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