Genesis's $2.8 billion lending unit temporarily suspends withdrawals
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Earlier today LFG published an Audit report 'defending' they tried their best for UST's peg.
From the report:
LFG spent $2.8B (80,081 $BTC and 49.8M in stablecoins) to defend $UST’s peg, consistent with LFG’s tweets on May 16th, 2022
Additionally, TFL went above and beyond and spent $613M of its own capital to defend the $UST peg
Do Kwon:
Many of you lost a lot of money in UST - for this I am sorry. While the system was transparent and open source, _I_ as its creator should have understood and communicated its risks better.
UST was my life's work - this combined with seeing it gain more lindy effects and holders every day and eventually become one of the largest cryptos by market cap blinded me to its potential risks and focused me on what seemed like its inevitable rise.
Full report: https://medium.com/terra-money/lfg-technical-audit-report-ddaf3f51e7d
Do Kwon tweet thread: https://twitter.com/stablekwon/status/1592874492224999424
In summary, we tried, we screwed you, we might come back (to screw you, again)
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From the report:
LFG spent $2.8B (80,081 $BTC and 49.8M in stablecoins) to defend $UST’s peg, consistent with LFG’s tweets on May 16th, 2022
Additionally, TFL went above and beyond and spent $613M of its own capital to defend the $UST peg
Do Kwon:
Many of you lost a lot of money in UST - for this I am sorry. While the system was transparent and open source, _I_ as its creator should have understood and communicated its risks better.
UST was my life's work - this combined with seeing it gain more lindy effects and holders every day and eventually become one of the largest cryptos by market cap blinded me to its potential risks and focused me on what seemed like its inevitable rise.
Full report: https://medium.com/terra-money/lfg-technical-audit-report-ddaf3f51e7d
Do Kwon tweet thread: https://twitter.com/stablekwon/status/1592874492224999424
In summary, we tried, we screwed you, we might come back (to screw you, again)
📍 Follow @Coins for the hottest news in crypto.
Medium
LFG — Technical Audit Report
JS Held, an experienced third-party auditing firm, was hired to conduct a technical audit providing full transparency into the trading…
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Despite all the FUD on crypto.com, the exchange stood at highest net inflow to outflow ratio (more inflows than outflows). Interesting.
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📍 Follow @Coins for the hottest news in crypto.
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Sex tape of SBF and Caroline?
Keep an 👁 on this space for more.. 😂
📍 Follow @Coins for the hottest news in crypto.
Keep an 👁 on this space for more.. 😂
📍 Follow @Coins for the hottest news in crypto.
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Coins ( ₿ )
Genesis's $2.8 billion lending unit temporarily suspends withdrawals 📍 Follow @Coins for the hottest news in crypto.
Rumors are that CZ is reaching out to Genesis for a potential bid to buy.
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📍 Follow @Coins for the hottest news in crypto.
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Temasek releases statement on its investment in FTX.
We invested US$210 million for a minority stake of ~1% in FTX International, and invested US$65 million for a minority stake of ~1.5% in FTX US, across 2 funding rounds from October 2021 to January 2022. The cost of our investment in FTX was 0.09% of our net portfolio value of S$403 billion as of 31 March 2022.
Full statement: https://www.temasek.com.sg/en/news-and-resources/news-room/statements/2022/statement-FTX
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We invested US$210 million for a minority stake of ~1% in FTX International, and invested US$65 million for a minority stake of ~1.5% in FTX US, across 2 funding rounds from October 2021 to January 2022. The cost of our investment in FTX was 0.09% of our net portfolio value of S$403 billion as of 31 March 2022.
Full statement: https://www.temasek.com.sg/en/news-and-resources/news-room/statements/2022/statement-FTX
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Temasek
FTX Statement and FAQs
Innovative technologies, including blockchain technology, are enablers with the potential to transform sectors and create a more connected world. The nascency of the blockchain and digital asset industry presents innumerable opportunities as well as significant…
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Ok, it is all over the CT. So we will say it too:
Justin Bieber purchased this Bored Ape NFT in January for $1.31 million.
Today, it’s worth $74,382.
Surprisingly, the Ape looks as sad as the markets have been over the last couple of months.
📍 Follow @Coins for the hottest news in crypto.
Justin Bieber purchased this Bored Ape NFT in January for $1.31 million.
Today, it’s worth $74,382.
Surprisingly, the Ape looks as sad as the markets have been over the last couple of months.
📍 Follow @Coins for the hottest news in crypto.
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ETH Staking Yields Rise Above 10% APR:
Staking APR on stETH has reached an all-time high of 10.7% since the Merge. Since stETH is a rebasing token, holders can expect a higher increase in the number of stETH tokens held.
Lido attributes this increase to higher-than-expected execution layer rewards. Recently, the liquid staking protocol also had to increase rebasing oracle limits from 10% to 17.5% to let the increased rewards flow to stETH token holders.
As a result of the increased rewards, the yield earned by recursive borrowing strategies such as icETH has also reached an all-time high of 25.5% since the Merge.
📍 Follow @Coins for the hottest news in crypto.
Staking APR on stETH has reached an all-time high of 10.7% since the Merge. Since stETH is a rebasing token, holders can expect a higher increase in the number of stETH tokens held.
Lido attributes this increase to higher-than-expected execution layer rewards. Recently, the liquid staking protocol also had to increase rebasing oracle limits from 10% to 17.5% to let the increased rewards flow to stETH token holders.
As a result of the increased rewards, the yield earned by recursive borrowing strategies such as icETH has also reached an all-time high of 25.5% since the Merge.
📍 Follow @Coins for the hottest news in crypto.
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Nike's secondary market NFT sales are insane.
Nike is approaching $200m in revenue from Web3 ventures thus far, almost 20x of its closest industry competitor.
With its entry to .SWOOSH domain, ushering in a revolution for the Sporting Goods + Fashion Industries.
Nike are securing a slice of the $6 billion resale market previously outside of their grasp.
Clever move. More brands to surely follow. Exciting times ahead and we are very early in this.
📍 Follow @Coins for the hottest news in crypto.
Nike is approaching $200m in revenue from Web3 ventures thus far, almost 20x of its closest industry competitor.
With its entry to .SWOOSH domain, ushering in a revolution for the Sporting Goods + Fashion Industries.
Nike are securing a slice of the $6 billion resale market previously outside of their grasp.
Clever move. More brands to surely follow. Exciting times ahead and we are very early in this.
📍 Follow @Coins for the hottest news in crypto.
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Binance preparing to buy crypto-lender Voyager - Coindesk
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📍 Follow @Coins for the hottest news in crypto.
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U.S. Jobless Claims and Housing reports coming at 8:30am ET.
Expect some volatility.
📍 Follow @Coins for the hottest news in crypto.
Expect some volatility.
📍 Follow @Coins for the hottest news in crypto.
European cryptocurrency exchange Bitstamp has gained approval to operate in Spain from the country's central bank.
https://www.coindesk.com/business/2022/11/17/crypto-exchange-bitstamp-wins-registration-in-spain/
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https://www.coindesk.com/business/2022/11/17/crypto-exchange-bitstamp-wins-registration-in-spain/
📍 Follow @Coins for the hottest news in crypto.
CoinDesk
Crypto Exchange Bitstamp Wins Registration in Spain
Registration in Spain follows Bitstamp's approval in Italy in July.
Can your family retrieve funds from Binance if you are dead?
Now that's an interesting question!
https://www.cryptopolitan.com/can-family-retrieve-fund-from-binance-if-die/
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Now that's an interesting question!
https://www.cryptopolitan.com/can-family-retrieve-fund-from-binance-if-die/
📍 Follow @Coins for the hottest news in crypto.
Cryptopolitan
Can your family retrieve funds from Binance if you are dead? - Cryptopolitan
The discourse of “what happens to your cryptocurrency when you die” is becoming more of a concern than a question by crypto investors as the year progresses.
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Binance resumes deposits for USDT (SOL).
https://www.binance.com/en/support/announcement/deposits-of-usdt-sol-token-resumed-4df9fb3a27bf4735b7a726a3a9849ac0
📍 Follow @Coins for the hottest news in crypto.
https://www.binance.com/en/support/announcement/deposits-of-usdt-sol-token-resumed-4df9fb3a27bf4735b7a726a3a9849ac0
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Binance
Deposits of USDT (SOL) Token Resumed | Binance Support
Fellow Binancians, After internal assessment and review, Binance has now resumed deposits for USDT (SOL). Thanks for your support! Binance Team 2022-11-17 Trade on-the-go with Binance’s crypto tra...
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Jump Crypto denies shutdown rumor:
Jump Crypto says it isn’t closing its doors, despite rumors to the contrary.
Tweets spread earlier Thursday suggesting the trading firm, tied to Jump Capital, was facing significant headwinds.
Not so, according to the company. "We are still actively investing and trading, so if you’re looking for funding, please get in touch."
Numerous companies have come out in recent days to acknowledge exposure to the winding FTX fiasco.
Others have found themselves in significant trouble. Crypto lender Genesis Global Capital, the lending arm of Genesis Trading, halted withdrawals and new loans on Wednesday.
📍 Follow @Coins for the hottest news in crypto.
Jump Crypto says it isn’t closing its doors, despite rumors to the contrary.
Tweets spread earlier Thursday suggesting the trading firm, tied to Jump Capital, was facing significant headwinds.
Not so, according to the company. "We are still actively investing and trading, so if you’re looking for funding, please get in touch."
Numerous companies have come out in recent days to acknowledge exposure to the winding FTX fiasco.
Others have found themselves in significant trouble. Crypto lender Genesis Global Capital, the lending arm of Genesis Trading, halted withdrawals and new loans on Wednesday.
📍 Follow @Coins for the hottest news in crypto.
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Coins ( ₿ )
Binance X CR7 NFT collection Ronaldo on Binance. Nov18th 8am UTC. https://twitter.com/cz_binance/status/1592534989010526208 Ronaldo: https://twitter.com/Cristiano/status/1592520297290551308 📍 Follow @Coins for the hottest news in crypto.
Ronaldo's first NFT collection auction to go live in ~2.5h from now.
https://www.binance.com/en/nft/collection/the-cr7-nft-collection-645520095796019200
Bid seems to start from $1700 /NFT.
https://www.binance.com/en/nft/collection/the-cr7-nft-collection-645520095796019200
Bid seems to start from $1700 /NFT.
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Trust Wallet launches a browser extension, which directly integrates with Binance Pay and Coinbase Pay.
This is a game changer. Several friction points addressed by this simple integration. Makes it easier for the first timers.
The ecosystem continues to build and doesn't seem to give a damn about the prices.
📍 Follow @Coins for the hottest news in crypto.
This is a game changer. Several friction points addressed by this simple integration. Makes it easier for the first timers.
The ecosystem continues to build and doesn't seem to give a damn about the prices.
📍 Follow @Coins for the hottest news in crypto.
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