PARIS — Celsius and Voyager Digital were once two of the biggest names in the crypto lending space, because they offered retail investors outrageous annual returns, sometimes approaching 20%. Now, both are bankrupt, as a crash in token prices — coupled with an erosion of liquidity following a series of rate hikes by the Federal … Read more
Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, it doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the … Read more
It’s been a brutal stretch for the crypto market, and a hard time for cryptocurrency investors to keep their emotions in check. The sector’s market cap collapse was led by terraUSD, one of the most popular US dollar-pegged stablecoins, which imploded virtually overnight. But bitcoin and ethereum, too, saw massive price declines from their recent … Read more
Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Bitcoin exchange Binance’s move to participate in Elon Musk’s $44 billion takeover of Twitter could boost digital currency evangelists’ hopes for the development of a more “decentralized,” crypto-friendly social media platform. … Read more
Illustrative image of two commemorative bitcoins with a green background. Arthur Widak | nur photo | Getty Images Stripe will allow businesses to pay their users via cryptocurrencies, starting with Twitter, in the latest sign of how large financial firms are warming to digital assets. The $95 billion online payments company said Friday it will … Read more
PARIS — Crypto firm Tether is planning to reduce its holdings of commercial debt in its reserves, as the issuer of the world’s most-used “stablecoin” continues to face questions about what its digital currency is actually backed by. Last year, Tether revealed that it held some cash but also bought a large amount of commercial … Read more
The tactics the groups are using, according to Meta, include posing as journalists and independent news outlets online to push Russian talking points, attempting to hack dozens of Ukrainian soldiers’ Facebook accounts, and running coordinated campaigns to try to get posts by critics of Russia removed from social media. The hackers were successful in “a … Read more
By THALIA BEATY, Associated Press NEW YORK (AP) — Ukraine, which has waged a staunch defense against Russian invasion, says it has pioneered a new source of financial support: People around the world who have donated millions of dollars directly to its war effort via cryptocurrencies such as bitcoin. Since Feb. 26, when Ukrainian officials … Read more
Facebook finds itself again at the center of a controversy. It’s as if the social media giant, which changed its name last October to become Meta Platforms (fb) – Get Meta Platforms Inc. Class A Reportwas struggling to manage its practices. Australia’s consumer watchdog (ACCC) has decided to sue Meta for allegedly “aided and abetted” … Read more
Global trading revenue generated by cryptocurrency exchanges hit $24.3bn in 2021 to surpass total revenue generated by traditional stock exchanges such as the New York Stock Exchange and the Nasdaq for the first-time ever, according to a report published by financial-services consultancy Opimas. The report estimates that revenue at crypto exchanges increased seven times from … Read more