Report: Crypto Hedge Fund Three Arrows Capital Pitched a GBTC Arbitrage Trade Before Rumored Collapse – Bitcoin News

Last week there was a lot of focus on the crypto hedge fund Three Arrows Capital (3AC) as the firm allegedly had a great deal of leveraged positions liquidated and there’s been speculation about insolvency. According to a recent report, 3AC’s over-the-counter (OTC) operation TPS Capital pitched a GBTC arbitrage opportunity before the company reportedly … Read more

Ethereum risks another 60% drop after breaking below $1K to 18-month lows

The price of Ethereum’s native token, Ether (ETH), careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued despite the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal … Read more

XRP price technical breakdown boosts chances of a 40% drop by July

XRP price stares at potential losses in the coming weeks as it breaks out of a “descending triangle” pattern, with its bias skewed toward the downside. Major XRP breakdown underway To recap, XRP started forming the technical structure after reaching $1.98 in April 2021, its second-highest level to date. In doing so, the token trended lower … Read more

NEXO price drops 40% in three days on rumors of ties to ‘insolvent’ crypto fund

The price of Nexo (NEXO) continued to fall on June 15, as Nexo denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks. NEXO price suffers on DeFi contagion fears  NEXO, which serves as a security token at a cryptocurrency lending platform of the same name, fell nearly 25% … Read more

Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange

Ethereum’s native token Ether (ETH) rose by more than 5% to reach its intraday high above $1,930 on May 30. Nonetheless, the ETH/USD pair risks facing another sell-off round due to concerns about a massive ETH inflow into an exchange. 58.7K Ether transferred to FTX in May On May 30, the Ether address allegedly associated … Read more