Search Results for: significant losses

Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M

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According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million…

Attacker Hacks Arbitrum’s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit

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A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hacked on March 3 at 7:33 a.m. (EST), according to a post mortem analysis authored by the security-focused firm Certik. The company’s report notes that “over 100…

Geopolitical Risk and Ukraine Worries Shake Equities, Cryptocurrencies — Gold Soars Higher

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On Wednesday, global markets have been volatile as Ukraine officials declared a state of emergency amid fears of a Russian invasion. Wall Street’s top indexes shuddered during the day’s trading sessions, and cryptocurrency markets slipped more than 4% during the 24…

Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency

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Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of…

Despite the Drop in Crypto Prices, Weekly NFT Sales Reach $4.7 Billion, Increasing 81%

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While crypto markets shed billions during the last seven days, non-fungible token asset sales are still up 81% since last week. Statistics indicate $4.7 billion in NFT sales were settled in seven days among 326,733 buyers, and Ethereum saw a continued…

Down From the Peaks: A Look at How Far Crypto Assets Have Slid From Their All-Time Highs

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Digital currencies had a phenomenal year, and a great deal of the crypto assets in existence reached all-time high (ATH) prices against the world’s fiat currencies. However, the same digital currencies that tapped ATHs last year are currently down a great…

Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

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The price of bitcoin dropped below the $44K zone on Wednesday to $43,678 per unit as the entire crypto-economy has shed billions in value. At the time of writing, the overall crypto economy is down 4.5% as it dipped to $2.25…

Bank of Russia Rejects Provision of Crypto-Related Financial Services

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Russia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow…

Crypto Markets Shed Billions Overnight — Analyst Says ‘Drawdown Normal’ and ‘Bull Market Structure Still Intact’

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Cryptocurrency markets have dropped significantly in value during the last 24 hours as the entire market capitalization of all 10,000 crypto assets in existence has dropped below the $3 trillion mark to $2.77 trillion on Tuesday morning (EST). After tapping $66K…