Just as things seemed to be settling down in the digital currency space, Vauld, a lender backed by Coinbase, has suspended withdrawals and hired advisors to explore restructuring.
The conditions are ripe for a long ‘crypto winter’ from which many coins will never recover, and as we can all see, it’s a multi-faceted problem with no easy solutions in sight.
There’s no light at the end of the tunnel just yet in the world of digital currency as troubles continue for firms caught up in the recent volatility of the market.
Gone in 60 seconds! This is what happened when Bitcoin-powered Twetch dropped its latest NFT collection, "Cozy Hoodie," during its launch on Wednesday this week.
CoinGeek's Patrick Thompson looks at how the speculative era is inching to an end following the recent events in Bitcoin that have had a domino effect on the broader digital assets market.
Several “crypto hedge funds” have been rumored to be insolvent as they were exposed to digital currency prices via leverage, and somewhat linked to other companies that all have issues simply because the prices fell.
Celsius Network claimed that the freeze was in the interest of its customers, but regulators in Texas, Kentucky, New Jersey, and even the Securities and Exchange Commission are not taking their word.
Joshua Henslee released a video sharing his thoughts on why a second major crash in the digital currency sector is happening and why he thinks we’re entering a longer-term bear market.
The announcement follows reports over the past few days that the Celsius Network had been borrowing millions of dollars worth of USD stablecoins (USDC and USDT) to cover withdrawals.
Lido Staked Ethereum (stETH) has lost its peg to Ethereum (ETH), and the price of the Celsius Network token ($CEL) has plummeted 35% on the day—and 91% on the year—as of press time.
The digital asset lending company recently updated its risk disclosure to point out that aside from lost keys and stolen coins, regulators are now a risk.