TSX-Listed Voyager Digital ‘Temporarily’ Suspends Trading, Deposits, and Withdrawals – Bitcoin News

After the TSX-listed Voyager Digital revealed that it was owed $655 million from Three Arrows Capital (3AC), the company secured a $500 million credit line from Alameda Ventures in order to “safeguard customer assets.” Five days later on July 1, Voyager announced the crypto company was “temporarily suspending trading, deposits, withdrawals and loyalty rewards.” Another … Read more

Voyager Digital freezes trading, deposits, withdrawals and rewards, blames 3AC default

Cryptocurrency exchange Voyager Digital announced Friday that it was temporarily suspending trading, deposits, withdrawals and loyalty rewards. “The failure of a borrower, Three Arrows Capital, to repay a substantial loan from us makes this the right path forward,” Voyager Digital CEO Stephen Ehrlich said on Twitter soon after the service suspension went into effect.  “This … Read more

Citi calls out potential risks of crypto-backed mortgages and benefits of metaverse property

Investment banking giant Citigroup has released research on how property technology could affect the housing market, mentioning virtual estate in the metaverse and cryptocurrency-backed mortgages. In a report released Wednesday titled, “Home of the Future: PropTech — Towards a Frictionless Housing Market?” Citi said crypto, blockchain and property in the metaverse had the “potential to … Read more

Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales – Bitcoin News

Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are … Read more

Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure – Bitcoin News

Three days ago, Bitcoin.com News reported on the publicly listed company Voyager Digital after the crypto firm announced that it was owed $655 million worth of digital assets. Now according to a press release from Voyager, the company has secured funds from Alameda Ventures in order to get more access to liquidity. Voyager Borrows $500 … Read more

Three Arrows Capital Allegedly Owes Voyager Digital $655M — Crypto Firm Is ‘Unable to Assess’ if It Can Recover the Funds – Bitcoin News

According to reports, the TSX-listed Voyager Digital is another company that has been negatively affected by financial issues tied to the crypto hedge fund Three Arrows Capital (3AC). In a letter to investors, Voyager’s management explained that 3AC potentially defaulted on a $655 million loan and it hopes to obtain some of the funds by … Read more

Bitfarms sold 3K Bitcoin as part of strategy to improve liquidity and pay debts

Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt. In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days, roughly 47% of the crypto mining firm’s roughly 6,349 BTC holdings. According to the … Read more

How a DAO for a bank or financial institution will look like

DAOs can provide several services for banks, including asset management, compliance and lending. Banks today are already using blockchain technology for things like payment, clearing and settlement, trade finance, identity and syndicated loans, according to The Financial Times. However, there are still many unexplored areas in banking where a DAO-based model might be useful: Fundraising … Read more

DeFi transforming lending routes on the blockchain

The world of decentralized finance (DeFi) is gradually expanding to encompass a significant share of the global financial lending space by virtue of the inherently trustless manner of operation and the ease of accessing capital. As the crypto ecosystem has grown to a $2-trillion industry by market capitalization, new products and offerings have emerged thanks … Read more

MicroStrategy may explore ‘future yield generation opportunities’ on 95,643 BTC holdings

Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy. In MicroStrategy’s report for the first quarter of 2022 released on Tuesday, the firm said it “may conservatively explore future yield generation opportunities on unencumbered MacroStrategy bitcoins” as a consideration following a $205 … Read more