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Basel Committee Finalizes Rules for Bank Exposure to Cryptocurrency Assets
19.12.2022
The Basel Committee, the organization in charge of setting global bank standards, has finalized its new rules related to banks and cryptocurrency exposure. The document establishes two different crypto asset classes, including tokenized real assets and stablecoins in one, and other cryptocurrencies...
Maple Finance's $54M of Sour Debt Shows Risks of Crypto Lending Without Collateral
12.12.2022
Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project's MPL token has plunged, and depositors are likely to stomach big losses. Here's how it happened, and what comes next
Document Claims Alameda CEO Caroline Ellison’s FTX Margin Position Was Negative $1.3B in May 2022
5.12.2022
In a number of recent interviews, the former co-founder of FTX, Sam Bankman-Fried (SBF), explained that he “wasn’t running Alameda” and he “didn’t know the size of their position.” In a more recent discussion with The Block’s Frank Chaparro,...
US Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices
2.12.2022
On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse...
BlockFi sues FTX's Bankman-Fried over shares in Robinhood
29.11.2022
BlockFi is demanding Bankman-Fried’s investment company turn over its shares in Robinhood as collateral it agreed to pay as part of a pledge agreement
Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starting the Domino Effect
18.11.2022
An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study...
Crypto.com’s Exposure to FTX Less Than $10 Million Says CEO — CRO Token Not Used as Collateral
15.11.2022
According to the CEO of Crypto.com, Kris Marszalek, his firm had recovered much of the $1 billion that had been sent to FTX when the crypto exchange collapsed. However, he acknowledged that at the time of FTX’s collapse, Crypto.com’s exposure to the crypto platform was below...
Binance CEO shares 'two big lessons' after FTX's liquidity crunch
9.11.2022
CZ took to Twitter on Nov. 8 sharing "two big lessons" that crypto companies should learn amid the downfall of crypto exchange FTX
Bitgo Reveals Wrapped Dogecoin Token Built on Ethereum
6.11.2022
On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between...
Indian Central Bank RBI Begins First Digital Rupee Pilot Today
1.11.2022
India’s central bank, the Reserve Bank of India (RBI), is launching its first digital rupee pilot on Nov. 1. with the participation of nine banks. “Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or...
TrueFi's $4M Bad Debt in Limbo Shows Risk of Crypto Lending Without Collateral
13.10.2022
Decentralized lending protocol TrueFi’s experience with loan defaults reveals its recourse for recovering bad debts: old-school solutions that can be time-sapping and costly, such as taking borrowers to court
Report: UK Gold Dealer Sold Out of Bullion After Pound’s Record Fall Causes Demand to Skyrocket
4.10.2022
The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran out of gold coins and bars after the demand for the precious metal skyrocketed. The pound’s plunge to a record low versus the dollar, as well as the turmoil in financial markets, is said to be the cause of...
Celsius Creditors Move to Subpoena Lending Firm Equities First for $439M Collateral Repayment
30.9.2022
Celsius said that Equities First still owes its $439 million
Compound Treasury to let institutions use digital assets as collateral when borrowing USD or USDC
14.9.2022
Accredited institutions can borrow USD OR USDC starting at 6% APR, according to the company
Chinese municipal bank issues first-ever digital yuan loan using intellectual property as collateral
3.8.2022
The unnamed recipient of the loan said the e-CNY transaction was fast and efficient; they received an equivalent of 500,000 CNY, which was $74,020 at the time of publication
Aave DAO Approves the Launch of a Collateral-Backed Stablecoin Called GHO
1.8.2022
On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called “GHO.” Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S....
Two Soccer Teams Transfer a South American Player Using USDC, But There’s Collateral Damage
29.7.2022
The news was hailed as a historic event for South American football, but it could bring unexpected consequences for Argentinian club Banfield, amid local FX restrictions
US State Regulator Warns About Crypto Interest-Bearing Accounts Amid Market Downturn
25.7.2022
The financial regulator of the U.S. state of Arizona has warned investors about crypto interest-bearing accounts. “Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said....
BlockFi Has Stopped Accepting GBTC as Collateral: Report
12.7.2022
The company's exposure to the Grayscale Trust is now minimal, says CEO Zac Prince
100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao’s Stablecoin Vault
11.7.2022
Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a governance vote that provides “collateral integration from a U.S.-based bank.” The Makerdao governance vote passed by a majority vote of more than 87%, and it allows the U.S. financial...