Bear Market

With many crypto industry firms struggling through the bear market, the world’s largest digital asset exchange has offered to lend a hand. Binance Pool has announced a $500 million lending project to help support struggling crypto miners, helping keep the ecosystem afloat. According to Binance’s official announcement on Thursday, Binance’s pool will support both crypto miners and “digital infrastructure providers.”  Loans to such firms will be available for an 18 to a 24-month term, with interest rates ranging from 5%…

The crypto market is under the complete control of bears, investors taking short positions to profit from declining prices. In this unstable environment, new capitalists are fearful or skeptical when funding projects. Instead, they turn to more reliable assets that would not wipe out their portfolios when or if they flop. Gold-backed tokens represent a category of assets ready to provide portfolio stability and allow investors to overcome the bear market without too many losses. On the contrary, gold-pegged tokens…

Selling your crypto assets during a bear market can be a hard choice. On the one hand, selling off your assets may seem logical during a down market. But, on the other hand, you may be worried about missing out on potential profits if the market rebounds.  This guide will illustrate the benefits and risks of selling your crypto assets during a bear market. While you should always research, we will share some tips for successfully doing so. What Is…

Holdnaut – a Singapore-based yield generation platform – is the latest crypto company to indefinitely freeze user deposits and withdrawals.  Hodlnaut in Trouble In an announcement on Monday, the firm stated that recent market conditions have forced its hand in order to stabilize its liquidity. The pathway to eventually resuming user withdrawals, it claims,  “will not be a short process.” “We would like to reassure you that this difficult decision was taken for us to focus on stabilizing our liquidity…

Compass Mining is the next crypto company to succumb to falling crypto prices and macroeconomic uncertainty. The firm’s co-CEOs sent a letter to investors on Thursday confirming that it had laid off 15% of staff. In addition to staff cuts, Compass will also implement compensation and spending reductions across the rest of the business. “While painful, these changes will enable Compass to stay agile and well-positioned in this evolving market, which has challenged many of our industry peers,” stated the…

Leading crypto hedge fund Three Arrows Capital (3AC) has fallen into liquidation. Sky News reported today, citing a person with direct knowledge of the matter. The source requested to remain anonymous because they do not have the clearance to discuss the matter publicly. According to the source, a British Virgin Islands court ordered the liquidation. Partners of New York-based Teneo Restructuring will handle the company’s insolvency, the source added. The restructuring company is, however, in the early stages of the…

Kaiko, a Paris-headquartered blockchain data analytics firm, has secured $53 million in a Series B funding round. Bloomberg reported earlier today, noting that Eight Roads led the funding round alongside French VC Revaia. The financing round also attracted investments from existing investors like Alven, Point Nine, Anthemis, and Underscore. The company’s Series B round comes amid one of the harshest bear markets in the history of cryptos. According to a Kaiko spokesperson, this funding round has tripled the firm’s valuation…

The electricity consumption of Bitcoin mining companies has plunged significantly in the wake of the intensifying crypto winter. Crypto analyst Digiconomist revealed this news in its Energy Consumption Indices for Bitcoin (BTC) and Ethereum (ETH). According to the BTC index, the electricity consumption of Proof-of-Work (PoW) miners has plunged nearly 36% in under two weeks. Specifically, BTC’s energy use fell from 204.50 TWh on June 11 to 131.68 TWh on June 23. Despite declining by over a third, BTC’s energy…

Kraken CEO Jesse Powell recently affirmed that Kraken is at no risk of suffering any Celsius-style debt or liquidity crises. Rather, his exchange will stand out as one of the few that hire and stack Bitcoin during the bear market. Kraken: Staying Humble, Stacking Sats On Monday, a Twitter user asked Powell whether customers should fear any “risk of contagion” from bad debt in the crypto ecosystem. On Monday, crypto lending platform Celsius announced that it would freeze customers’ funds…