Law Decoded, June 13–20: Celsius exodus and liquidity crisis
American platform became the first one to freeze the withdrawal operations, but might not be the last Last week, the Celsius Network wrote its name in the alarming recent history of the crypto market failures alongside Terra. The American platform …
New video revives debate over Bored Ape Yacht Club’s alleged ‘racist’ imagery
A new video examines the alleged racist and white supremacist symbols hidden in plain sight by Yuga Labs in its most popular NFT collection. A video released by investigative YouTuber Philip Rusnack, known as ‘Philion,’ has revived the debate over …
Crypto winter freezes sports sponsorships for digital asset firms
The crypto market downturn has made it difficult for crypto firms to pull the trigger on any new sponsorship deals with the sports teams they spent hundreds of millions on at the beginning of the year. The longer the crypto …
Crypto lending platform Babel Finance reaches counterparty debt agreement
The firm emphasized that it will “actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks.” Hong Kong-based crypto lending firm, Babel Finance, has eased some of its immediate liquidity troubles by …
China’s WeChat bans crypto and NFT-related accounts
The policy also covers secondary NFT trading as the firm notes that “accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with.” The top social media platform in China, WeChat, has …
Ethereum testnet Beacon Chain launched and ready for trial merge
The Sepolia testnet is the next in line after Ropsten to undergo a merge trial run since its Beacon Chain is now live and ready to give developers valuable information leading up to the real thing. The Sepolia testnet Beacon …
HM Treasury changes course on collecting data around unhosted crypto wallets
“There is not good evidence that unhosted wallets present a disproportionate risk of being used in illicit finance,” said the Treasury update. The government of the United Kingdom said it intends to modify a proposal that would have required crypto …
Chinese court invalidates 2019 car sale made using now worthless crypto token
It appears that not only was the sales contract invalidated, but the buyer paid for the car with a questionable digital token in the first place. Last week, a WeChat post published by the Shanghai Fengxian Court began circulating in …
Price analysis 6/20: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX
Bitcoin and select altcoins attempted a relief rally, but most breakouts are being capped-off well below the 20-day moving average. The crypto markets have been in a strong bear phase for the past several months but JPMorgan Chase analysts expect …
Bitcoin futures enter backwardation for the first time in a year
Risk-averse BTC derivatives traders throw in the towel after futures contracts trade below the spot market price. Bitcoin’s (BTC) month-to-date chart is very bearish, and the sub-$18,000 level seen over the weekend was the lowest price seen since December 2020. …