RABIT Weekly news (W5 June 2022)

RABIT -
  • Bank of England chief says crypto has ‘no intrinsic value’ and is not a practical means of payment
  • Celsius Network LLC (a cryptocurrency loan company)
    • German crypto-focused digital bank Nuri has announced withdrawals and investments for the Bitcoin Interest Account are temporarily paused that it has provided in collaboration with Selcius
    • Voyager Digital ends partnership with Celsius
    • Celsius appointed Citigroup to advise it on possible financing, following its decision to freeze withdrawals and transfers
    • Goldman Sachs is looking to raise $2 billion from investors to buy up distressed assets from troubled crypto lender Celsius
  • In contrast to JP Morgan's downward target stock price on Coinbase and its 1,100 job cuts, Cracken, Binance and OKX said they would hire additional workers and have no problems with fiscal consolidation
  • 3ac appears to have taken out loans from a number of funds and partners, and deposited UST in Anchor Protocol without informing creditors, and held UST 200 million prior to UST's defecation
  • What happened with 3AC and Celcius has led to a liquidity crisis for U.S. cryptocurrency lending platform BlockFi and will lead to another crisis
    • Crypto exchange FTX to provide a $250 million revolving line of credit
    • Crypto exchange FTX is reportedly in talks to acquire a stake in BlockFi
  • Large-scale liquidation, which was followed by major Defi protocols, is in a lull
  • Tether Plans to Launch a Stablecoin Tied to the British Pound
  • Bitcoin Is Leading Indicator of Stock-Market Bottom, Mobius Says
  • Securities and Exchange Commission Chairman Gary Gensler said that bitcoin was the only cryptocurrency he was prepared to publicly label a commodity, rather than a security.
  • Crypto broker Voyager Digital said it had issued a notice of default to hedge fund Three Arrows Capital (3AC) for the fund's failure to make required payments on a loan
    • The loan was for 15,250 bitcoin (approximately $324 million) and $350 million worth of USDC

RABIT: https://rabit.bot

Android: https://bit.ly/3g0zxzU

Apple: https://apple.co/3KOBVYG