Crypto Winter

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Kraken Slashes 30% Of Its Workforce To Survive Crypto Winter

Kraken laid off 30% of its global workforce (around 1,100 employees) to brave the crypto winter.

TrueFi Announces First Default on BUSD Loan by Blockwater Technologies

TrueFi has issued its first notice of default on the BUSD loan to Blockwater Technologies. The firm owes TrueFi over $3.4 million and has only been able to pay $645,000.

Nexo’s Co-Founders Debunk Rumors Of Insolvency

Nexo’s Co-Founders reassured investors that Nexo is fully solvent and quelled rumors about the platform facing bankruptcy. They also answered the community’s questions related to Nexo's recent developments.

Matrixport Acquires $50M Insurance Coverage With Lloyd’s Syndicate

Matrixport signed a $50M insurance policy with Lloyd Syndicate to protect itself from any liquidity issues that may arise due to the crypto winter.

Merkle Standard Increases Hashrate to 900% Within 8 Months

Merkle Standard has increased its hashrate to 900% within eight months. This has led to the rise in its computing power from a previous rate of 0.3EH/s to 3.1EH/s.

CoinLoan’s Semi-Annual Report Reveals Promising Results

According to CoinLoan’s mid-year report, the lending firm has seen an uptrend in its growth metrics despite the ongoing crypto winter.

Draft US Bill Seeks To Ban Algorithmic Stablecoins For 2 Years

The US House of Representatives drafted a bill that intends to place a temporary 2-year ban on algorithmic stablecoins such as TerraUSD.

Celsius Files To Reopen Withdrawal For Eligible Users

The defunct crypto lender announced that it is making moves to pay holders of certain accounts. The proceeding will be held on 14 September, so until then, affected users will have to keep their fingers crossed.

XRP Network Sees Highest Whale Activity Since May

As the crypto market heads in a bearish direction, XRP sees a massive influx of whale transactions, with over $100K worth of funds transferred as Ripple tokens.

Bitcoin Declines By 15% As Crypto Market Nears Worst Weekly Close Since June

The crypto market seems to be taking another hit as Bitcoin and altcoins have had a bad week.

SBI Holdings Loses 40% Of Its Hash Rate, Canaan Doubles Mining Profits

SBI Holdings sees a 40% drop in its hash rate after it ceases crypto mining operations in Siberia, while Canaan sees an increase of 117% in its mining revenue despite China’s crypto ban and the overall decrease in mining profits.

Hodlnaut Reveals Pending Proceedings With The Singaporean Police

Crypto lending platform Hodlnaut reveals the company has police proceedings with the Singapore Attorney-General and the Singapore Police Force.

BlueBenx Suspends Withdrawals Following $32M Hack

Brazilian crypto lending company, BlueBenx halts all crypto withdrawals after a recent hack.