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A series of insolvency may be at hand in the crypto exchange market. In an interview with Forbes , Sam Bankman-Fried, CEO of FTX , also seen as a hero for struggling companies lately, said that more crypto companies are close to default. “There are some third-tier exchanges that are already secretly insolvent,” he commented. The downtrend in prices is causing heavy damage to crypto markets. Companies have made layoffs. Users’ trust and confidence in projects is lower than they did in the early days. Indicators measuring market capitalization and industry criteria show that global growth is slowing down significantly. This is Bigger Than Crypto According to the CEO, FTX is protecting its customers, even if it means they’re getting bad deals. If you’re late to the party, a quick recap may help. Earlier this week, major digital currency hedge fund Three Arrows Capital (3AC) officially defaulted after failing to repay a loan worth more than $670 million. Voyager Digital, one of ...

Following the historic DeFi hack, Ronin blockchain has just announced that the Ronin Bridge is reopened and accessible for users . According to Ronin’s newsletter, the relaunch follows three successful audits including one internal audit and two external audits by Verichains and Certik, in order to tackle development issues that caused the system to be hacked and made changes to improve. Ronin Bridge is Back Verichains and Certik are two leading audit firms in the crypto secto. After the attack, these companies analyzed the Ronin Bridge Smart Contracts and its components and disclosed key findings in terms of the system security. “During the audit process, the audit team had identified some vulnerable issues in the application, along with some recommendations. Sky Mavis team has resolved and update smart contract code following our recommendations. Ronin Bridge Smart Contracts has passed with no Medium, High, or Critical severity issues,” said Verichains. In this return, a ne...

Klever, a blockchain and cryptocurrency service platform, announced it has launched Klever Blockchain , one of the core products of the Klever ecosystem. According to the team, Klever Blockchain, dubbed Kleverchain, is the next-generation blockchain, a one-stop site for all digital currencies, dApps, stablecoins backed by Bitcoin and USDT. Kleverchain is developed on Tendermint Byzantine Fault Tolerant (BFT) and cosmos SD. Klever Blockchain is Live Digital technology has become an integral part of our daily lives, however a significant barrier to blockchain broad adoption exists between technology and common consumers. The number of new prospective projects is increasing, but the majority of them are structured in such a way that non-programmers find it difficult to approach them. Kleverchain, on the other hand, does not require developers to have prior blockchain coding skills. Developers can enjoy and integrate all of the blockchain’s key cryptographic capabilities into thei...

The bubble eventually burst after weeks of silence from 3AC. Voyager Digital said Monday morning that it has issued a default notice on hedge fund Three Arrow Capital (3AC) after the firm failed to repay a loan of 15,250 BTC and 350 million USDC . Furthermore, Voyager has taken legal action in an attempt to recover the fund it is owed. The company hired Moelis as a financial advisor to reclaim the outstanding debt, according to a news release. Voyager Digital notified 3AC last week of a debt of 15,250 BTC ($325 million) and 350 million USDC, requesting full repayment by June 27. 3AC made no response to 3AC’s inquiry. Its Over Voyager stated that it will continue to conduct business as usual and handle customer withdrawal requests. On June 19, the company signed a loan agreement with Alameda Research, the market’s top investment fund. This loan assists VOYG in acquiring a floating line of credit to secure customer assets from the ongoing market downturn. Stephen Ehrlich, Chief ...

The ongoing attacks on cross-chain bridges caused significant damage to the crypto community as well as Harmony , which was especially problematic in light of the economic downturn. The Horizon bridge in Harmony is the most recent name to be added to the v ictim list of DeFi bridges that have been hacked . On June 24, the incident took place early in the morning, but the official announcement from the company wasn’t made until after a half-day had passed. Harmony Provides Transparency According to details of transactions provided by Harmony, the hacker carried out more than 11 transactions and stole more than 13,100 ETH (worth $14.1 million) 592 WBTC ($12.4 million) 9.9 million USDT 41.2 million USDC 6 million DAI 5.5 million BUSD 5.6 million FRAX 84.6 million AAG ($1.3 million) 110,000 FXS ($607,000) 415,000 SUSHI ($518,000) numerous other ERC-20 tokens Those ERC-20 tokens were later transferred to ETH and placed in the same wallet address. It is estimated that the ...

With cryptocurrencies and blockchain snowballing in the crypto casinos area, the Pasino platform has made it its mission to provide all the games and services you wish for an outstanding experience. But with so many Bitcoin casinos, you may be wondering where you should begin. And it’s perfectly understandable if you’re feeling a bit overwhelmed. Which coin should you choose for playing online? What games are available? What differs from site to site? And so on. Today we will find out which are the most popular crypto casino platforms, how to select them, and most of all, we will discover Pasino, an emerging crypto casino with games for all tastes. The crypto casino experience We can see that the blockchain has developed in many domains, including finance and entertainment. But when it comes to online casinos, you can play virtually every kind of game directly from your home or anywhere. So what more could blockchain bring to them? In essence, a crypto casino is an online casino...

The flood of bad news and insights in this correction cycle just keep coming. Exchanges are still operating a the decline in confidence is increasing, especially when the possibility of default from venture capital funds is close to reality. Voyager Digital May Issue Statement Cryptocurrency broker Voyager Digital (VOYG) said on Wednesday that it may send a “notice of default” to Three Arrows Capital (3AC) if 3AC fails to repay the loan by June 27. The official statement came amid the 3AC crisis, indicating that Voyager Digital has been going through some financial difficulties and has lately received support from Alameda Research. Voyager Digital has made the announcement that it has taken out a loan from Alameda Research for the amount of 15,000 BTC in order to cover the expenses that were incurred as a result of losses related to the venture capital business Three Arrows Capital. According to the press release, in the event that 3AC is unable to meet the subsequent repayment...