Search Results for: Three Arrow Capital

The Digital Currency Group (DCG) plans to close its prime brokerage subsidiary, TradeBlock, due to the ongoing crypto winter, uncertain regulatory environment, and broader economic challenges. The closure raises concerns about the cryptocurrency industry’s future and emphasizes the need for better cooperation and global coordination among stakeholders, regulators and international organizations to ensure consistency and clarity in crypto asset regulation.

Sotheby’s auctioned rare NFTs from the Grails collection, initially owned by bankrupt crypto hedge fund Three Arrows Capital (3AC), yielding $2,482,850. The collection features generative art pieces and significant digital artworks, with more NFTs from 3AC’s collection to be sold in the future.

MIAX, a subsidiary of Miami International Holdings, completed its acquisition of LedgerX, a regulated exchange and clearinghouse. This move supports MIAX’s growth strategy, allowing for the expansion of its capacity to introduce innovative products into the swaps and futures industry.

Crypto lender Voyager Digital’s liquidation plan received approval, enabling the return of approximately $1.33 billion in crypto assets to its customers. The firm’s bankruptcy highlights the importance of understanding the complex economic and regulatory landscape in the turbulent and unpredictable cryptocurrency market.

A recent study found that the 2022 crypto bank runs were majorly triggered by whale account holders withdrawing large portions of their funds. Crypto platforms’ run risks arose from allowing unrestricted withdrawals while using funds for risky, illiquid investments, highlighting policy concerns.

The rise of Bitcoin-based meme coins and NFTs after the Taproot upgrade has caused increased transaction fees and blockchain congestion. This highlights a conflict within the Bitcoin community between purists, who see it as an alternative currency, and advocates for its open nature. Addressing rising fees and preserving decentralization and censorship-resistance must be prioritized.

Elon Musk’s recent tweet featuring a Milady NFT caused the floor price to soar, showcasing the influence of prominent figures on the NFT market. Controversy surrounding the creator, Charlotte Fang, raises questions about the value of NFTs being driven by hype and celebrity endorsement rather than artistic or cultural merit.

Bankrupt crypto lender Voyager Digital announces self-liquidation after failed acquisition deals with FTX and Binance.US. Customers now face a recovery rate of only 36% of their crypto holdings, significantly lower than initially expected. Liquidation of select digital assets will affect major cryptocurrencies like Algorand, Celo, and Avalanche.

Crypto broker Voyager Digital focuses on returning assets to customers after failed deals with FTX US and Binance US. It plans to liquidate certain digital assets, while returning major cryptocurrencies at a 36% recovery rate. The uncertain regulatory climate and previous exposure to a failed crypto hedge fund contribute to the challenges faced by Voyager and the crypto industry.

The Binance LaunchPools event, featuring Sui tokens, raised $300 million and saw a retail frenzy reaching $3.8 billion. Meanwhile, meme cryptocurrency PEPE’s market cap surpassed $550 million, highlighting hype-driven investments. As the crypto landscape evolves, striking a balance between enthusiasm, caution, and regulatory compliance is crucial.