NEWS | Goblin Crypto

Three Arrows Capital on the Brink of Insolvency; May Still Face a $222 Million Ethereum Liquidation

06/15/2022 1:00 pm 07/13/2022 4:20 am

Three Arrows Capital (3AC) is on the brink of insolvency after receiving margin calls on positions involving staked Ethereum (stETH) and the Grayscale Bitcoin Trust (GBTC), one of the company’s founders announced on Wednesday, and is still reportedly facing the prospect of an additional $222 million liquidation. “We are in the process of communicating with relevant parties and fully committed to working this out,” founder and CEO Zhu Su wrote on Twitter on Tuesday evening amid …

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Celsius Network Blocks Bitcoin Magazine Staffer for Warning Users About the Company on Twitter

06/14/2022 12:00 pm 06/14/2022 10:55 pm

The Celsius Network blocked a Bitcoin Magazine staffer on Twitter over the weekend for attempting to warn customers that it was at risk of a financial meltdown. Bitcoin Magazine’s head of market research Dylan LeClair began authoring the messages that offended the company — which seized its customers’ funds on Sunday — on May 11, in the wake of the Terraform ecosystem’s collapse. “I wouldn’t want to have any value in in a crypto yield …

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JPMorgan Predicts Apocalyptic 75 Basis-Point Interest Rate Hike at Next Fed Meeting

06/13/2022 2:00 pm 06/14/2022 10:55 pm

Economists at J.P. Morgan announced Monday that they expect the Federal Reserve to enact a three-quarter point interest rate hike when it meets on Wednesday, a figure that would shatter stock and cryptocurrency markets. “We now look for a 75bp hike on Wednesday,” the economists wrote in a research note late Monday, adding that they believed a 100 basis-point hike was on the table. “One might wonder whether the true surprise would actually be hiking …

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$18,300: Bitcoin Price Targets the Celsius Network for Liquidation as Customers Suspect Company of Using Their Funds to Extend Credit Line

06/13/2022 11:00 am 07/04/2022 10:40 pm

Bitcoin fell below $23,000 on Monday as it appeared to target the $18,300 range necessary to liquidate a Celsius Network loan on the Maker Protocol worth $278 million. Analysts noted that as of early Monday, the exchange held 17,919 wrapped bitcoin (WBTC) leveraged in the Maker Protocol, a DeFi lending platform. The collateral, worth around $420 million, would have been liquidated if bitcoin hit a price of $22,584. But just hours before the market’s leading …

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Do Kwon Denies Cashing Billions Out of LUNA: ‘I Lost Much of What I Had in the Crash Too’

06/12/2022 5:00 pm 08/17/2022 3:11 am

Disgraced Terraform Labs founder Do Kwon denied on Saturday that he “cashed out” of his company’s ecosystem in the days leading up to its meltdown, calling claims to that effect “categorically false.” “This should be obvious, but the claim that I cashed out $2.7B from anything is categorically false,” the 30-year-old South Korean tech titan wrote on Twitter. “Two contradictory claims seem to exist where: 1. Do’s wallets are doxxed, and he still owns most …

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