CRYPTOCURRENCY
Jump Crypto Enters Confidential Phase in SEC vs. Terraform Labs Case
Jump Crypto has been granted access to confidential documents in the SEC vs. Terraform Labs case, allegedly implicating them in the TerraUSD devaluation and Terra's collapse.
Ethereum Foundation's 1.7K ETH Sale Signals Potential Price Downturn
The Ethereum Foundation's sale of 1,700 ETH, coupled with pessimistic views from a crypto trading KOL and Mike Alfred, has fueled concerns about Ethereum's financial outlook. These developments may signal a potential downturn in ETH prices.
Web3 Startups Witness 76% Plunge in Venture Funding in Q2 2023
Web3 startups saw a 76% drop in Q2 2023 funding, with only $1.8B raised. Despite VC downturn, Bitcoin and Ether prices surged. Future of Web3 funding remains uncertain.
Argo Shares Plunges 72% After Fundraising Fails to Go Through
Shares of Bitcoin miner Argo fell 72% on Monday after a strategic investor failed to participate in the company's fundraising event
WisdomTree Third-Quarter Crypto Assets’ AUM Drop 36% As Market Losses Continue
WisdomTree has seen its crypto assets under management fall by 36% in what the company said has been triggered by the ongoing market turbulence.
Binance Launches $500M Fund for Distressed Bitcoin Miners
Private and publicly-listed bitcoin miners can now apply for loans with Binance as the crypto exchange launched a $500 million fund to cope with the ongoing downturn of the crypto-market conditions.
Stone Ridge Shutting down Bitcoin Futures Fund, Returning Money to Investors
Stone Ridge’s Bitcoin Futures Fund suffers losses triggered by market downturn and competition.
Payments Firm Bolt Scraps $1.5B Proposed Acquisition of Crypto Firm Wyre
Bolt said that it has pulled out of a $1.5 billion deal to buy crypto firm Wyre amid market downturn.
Galaxy Digital’s Q2 Net Loss Tripled To $554.7 Million Amid Market Turmoil
Galaxy Digital said its net loss in the second quarter had risen three times the amount it experienced during the same period last year. The asset manager stated that the losses were triggered by the ongoing market downturn.
Crypto Downturn Hits Luxury Watches Market Sales
Reports show that crypto traders and users are more likely to purchase luxury items. The meltdown in crypto prices has directly impacted the pricing of luxury watches.