RABIT Weekly news (W1 July 2022)

Jul 5, 2022 • 1 min read

CoinFlex said it would issue $47 million worth of a digital coin, offering 20% interest, which it's calling Recovery Value USD, or rvUSD.
Crypto hedge fund Three Arrows Capital(3AC) plunges into liquidation as market crash takes toll
- Crypto hedge fund Three Arrows Capital (3AC) has filed for Chapter 15 bankruptcy in New York
- 3AC defaulted on a $660 million loan to Voyager Digital
- Cryptocurrency exchange Voyager Digital freezes trading, deposits, withdrawals and rewards, blames 3AC default
Celsius Had Double the Risk Profile of Traditional Banks
- Before it raised new funds last summer, the lender's assets-to-equity ratio was reportedly 19:1—almost double that of the average U.S. bank.
Tether said that it will soon complete an audit from a “Big 12” accounting firm
Tether Fails to Calm Jittery Nerves as Short Sellers Circle
Crypto Lender Vauld Freezes Withdrawals, Eyes Restructuring
- Crypto lenders including Celsius, Babel are also struggling
Johnny Lyu, the CEO of KuCoin, slams insolvency rumors citing “no plan to halt withdrawal.everything on KuCoin is operating well”.

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