Amid miner capitulation, Hut 8 maintained BTC ‘HODL strategy’ in July

Canadian Bitcoin (BTC) miner Hut 8 Mining Corp. added to its massive BTC reserves in July, as the firm maintained its long-term “HODL strategy” in the face of market volatility. The Alberta-based company generated 330 Bitcoin in July at an average production rate of 10.61 BTC per day, bringing its total reserves to 7,736 BTC. […]

Crypto.com secures regulatory license in Italy

Digital asset exchange Crypto.com has received approval from Italian regulators to offer its services in the Mediterranean country — a move the company says aligns with its vision of “building lasting growth in the region.” On Tuesday, Crypto.com announced that it had officially received registration and regulatory approval from Organismo Agenti e Mediatori, also known […]

3AC’s founders are nowhere to be found

In the world of crypto, there’s no such thing as “too big to fail.” Three Arrows Capital, once the most recognizable hedge fund in the industry, has essentially gone belly-up after its founders believed their own hype and decided to go full-degen mode during the worst macro climate of a generation. Since the proverbial shit […]

Circle discloses full breakdown of $55.7B USDC reserves

Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings for the first time — a move designed to offer transparency and instill greater trust ain the stablecoin issuer.  As of June 30, Circle’s $55.7 billion reserves were comprised of $42.12 billion in short-term United States Treasuries and $13.58 billion in […]

‘Web5,’ Metaverse sports and Bitcoin monetization startups generate buzz

A lot has happened in the Bitcoin (BTC) and cryptocurrency markets since our last edition of VC Roundup. The monumental collapse of the Terra ecosystem spilled over into other segments of the digital asset market, exposing over-leveraged traders, lending platforms and venture capital funds. In the process, Bitcoin’s price plumbed new lows, falling below the […]

Celsius pays down 143M in DAI loans since July 1

Celsius (CEL) has repaid a substantial amount of its outstanding debt to Maker (MKR) protocol since the beginning of the month, signaling that the troubled crypto lending platform was trying to stave off a complete collapse amid credible rumors of insolvency.  Since July 1, Celsius has repaid $142.8 million worth of Dai (DAI) stablecoins across […]

Crypto was in full swing at Collision Conference, June 17-23

For all the gloom and doom in the cryptocurrency market these days, our industry continues to make inroads into mainstream tech. This week, I had the pleasure of attending the sold-out Collision Conference in Toronto, and crypto was featured prominently. During the event, I got to moderate three panels, including two that were crypto-focused. The […]

Three Arrows Capital has failed to meet margin calls: Report

Venture firm Three Arrows Capital (3AC) has reportedly failed to meet margin calls from its lenders, raising the spectre of insolvency after this week’s crypto market collapse triggered unforeseen liquidations for the Singapore-based company. Crypto lender BlockFi was among the firms to liquidate at least some of 3AC’s positions, according to the Financial Times. Citing […]

MoneyGram’s USDC transfer service launches in several countries

Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients.  The service is being rolled out across several key remittance markets, including Canada, the United States, Kenya and the Philippines, Circle and MoneyGram announced […]