It has been a very trying week for the community as the crypto industry took a beating like never before. Crypto lending platforms like Celsius and Babel Finance suspended all withdrawals to protect liquidity, while VC firm Three Arrows Capital had to be liquidated. Keep reading to find out more.
Bitcoin
Despite being approved by the Panamanian national assembly only a couple of months ago, President Laurentino Cortizo has paused the country’s Bitcoin adoption.
Despite the drop in BTC’s value and the economic troubles in El Salvador, Prezidentas Nayibas Bukele has hinted that the country might buy bitcoin yet again.
After a decade or so of solid growth, crypto looks to be having a similar crash as to what was experienced in the early 2000s after the dot-com burbulas popped, as BTC drops below the $20K mark.
Ethereum
Ethereum’s core developers have announced that the ‘sunkumo bomba,’ which is a crucial component of The Merge, has been postponed by two months.
"Goldman Sachs" expanded its Ethereum trading options with the first-ever ETH-linked derivative trade.
defi
Stablecoin troubles are still plaguing the community, as Tron’s newly launched stablecoin, the USD, runs into trouble only a few months after its launch.
Altcoins
Billionaire CEO Elon Musk has been padavė ieškinį 258 mlrd by a disgruntled investor over alleged claims of running a pyramid scheme for Dogecoin.
Despite the worst market downturn, Ripple has revealed that they will continue to hire, with CEO Garlinghouse urging investors not to panic.
Technologija
Blockchain analytics platform Nansen has launched and rolled the much-awaited encrypted Web3-based messaging app – Nansen Connect.
MetaMask, Phantom, and other browser wallets disclosed that they patched a kritinis saugumo pažeidžiamumas that could have exposed sensitive user login credentials on compromised devices.
Atsakingas verslas
A new report has revealed that venture firm „Three Arrows Capital“ (3AC) has reportedly failed to meet margin calls from lenders, bringing up the risk of insolvency.
The crypto lending platform Celsijaus is trying everything, including a company restructuring, to stay solvent after suspending withdrawals.
Transcripts of Elon Musk discussing his plans for Twitter and crypto payments in a Q&A have been leaked.
„Babel Finance“ suspends all further withdrawals, citing that it is “facing unusual liquidity pressures” as the crypto market flounders.
The Kazakhstani government has approved legislation that will regulate interactions between local crypto exchanges and financial institutions, even allowing registered exchanges to have bank accounts in the country.
Huobi’s operations in Thailand have been halted as the Thai SEC revoked the crypto platforms operations in May this year.
NFT
The leading NFT marketplace OpenSea has announced that it is moving to the Seaport blockchain, a new web3 marketplace protocol designed for safely and efficiently trading NFTs.
The Swiss watchmaker Tag Heuer has created a smartwatch feature that will allow users to flaunt their NFT collection.
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Source: https://cryptodaily.co.uk/2022/06/crypto-weekly-roundup-market-tanks-celsius-and-3ac-struggles-metamask-vulnerability-difficulty-bomb-usdd-stumbles-and-more