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Tether Boasts $72.5 Billion US Treasury Exposure as Interest in National Debt Falters

[Sep 8, 2023 4:30 PM] Tether, the largest stablecoin in the cryptocurrency market, discussed how its leverage of U.S. treasury bills creates a steady demand for U.S. national debt as a backup of the USDT issuance. The company has exposure to almost $73 billion in U.S…

This Bitcoin options strategy allows early bird traders to prepare for BTC’s next breakout

[May 15, 2023 2:20 PM] Crypto traders expecting a price reversal could use this options strategy to get positioned in Bitcoin.

Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations

[Mar 29, 2023 2:00 PM] On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the…

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

[Mar 11, 2023 12:30 PM] On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC…

Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner

[Mar 4, 2023 1:00 PM] On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the…

Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs

[Jan 31, 2023 1:30 PM] The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1)…

Unredacted Financial Documents Show Blockfi’s $1.2 Billion Connection With FTX, Alameda Research 

[Jan 25, 2023 9:00 AM] Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure…

Basel Committee Finalizes Rules for Bank Exposure to Cryptocurrency Assets

[Dec 19, 2022 9:30 AM] 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…

SEC calls on firms to disclose exposure to crypto bankruptcies and risks

[Dec 8, 2022 5:30 PM] The Securities and Exchange Commission corporate finance division reminded companies of what they are required to disclose and provided guidance to what else they want to know.

FTX will be the last giant to fall this cycle: Hedge fund co-founder

[Nov 17, 2022 5:55 PM] This bear market has seen the collapse of Celsius, Three Arrows Capital, Voyager, and now FTX, but the worst is likely over, a hedge fund executive suggests.

2 More Crypto Platforms Pause Withdrawals as Liquid Global and Salt Lending Cite Exposure to FTX

[Nov 15, 2022 1:30 PM] On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused…

Galaxy Digital Reveals Update on Ties to FTX, Partnership Has ‘Exposure of Approximately $76.8 Million’

[Nov 9, 2022 5:30 PM] Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great…

Maple Finance Lending Pool Delegate ‘Identified a Number of Key Weaknesses’ Tied to FTX’s Alameda Research

[Nov 9, 2022 2:30 PM] According to a report from Orthogonal Credit, a delegate of Maple Finance’s lending pools, the firm decided “earlier this year” not to lend to Alameda Research, FTX’s quantitative trading firm. Orthogonal said through “due diligence” it “ide