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Cypher announces recovery plan, says it will ‘socialize’ losses in initial stage

Crypto trading platform Cypher has published a plan to recover from its $1 million exploit, stating it will “socialize” losses across the platform in an initial stage of the recovery. In the first stage of the plan, the Solana-based trading platform will produce a “pro rata redemption package” of current

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XRP, ADA Post Highest Losses Among Crypto Majors; BTC Price Steady as ‘Buy the Dip’ Allure Fades

“Data suggests that long volatility strategies have been deployed extensively over the weekend after the price crashed below the $25,000 level,” the analysts wrote. “In turbulent times, traders might expect high volatility to continue and use options strategies (like straddles or strangles) to profit from this.” Source

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Bitdeer’s losses widen in Q2 after one-time $33M listing fee, shares up 44%

Bitcoin miner Bitdeer Technologies, a firm spun off from prominent Bitcoin application-specific integrated circuit (ASIC) manufacturer Bitmain, recorded a net loss of $40.4 million in the second quarter of 2023, up from a net loss of $15.6 million in Q2 2022.The company disclosed in its earnings report published on Aug.

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