James from Phoenix

Signed up at Spinfinity Casino 17 minutes ago.

» Try Spinfinity Casino too
Do not show again

There have been a lot of ups and downs in the crypto market, but the yield has stayed strong until a few companies went bankrupt.

Before prices plummeting 88% to $100 billion by the end of the year, cryptocurrencies remained subdued for nearly three years, reaching a high of $830 billion in early 2018. Until early 2021, the cryptocurrency market has not yet broken through its previous record high.

Currently, the crypto market is 57 percent lower than it was at its top of $1.3 trillion, and some journalists at Crypto Lists feel that we are in the midst of second crypto winter. It is possible that this downturn will continue for some time, and things could get worse if that is the case. Patient crypto investors, on the other hand, can benefit from this. However, everyone hope that the crypto yields are not going down too quick or too much.

Vauld Suspends Withdrawals

Vauld, a cryptocurrency exchange, announced on Monday that it has abruptly stopped accepting deposits, withdrawals, and trading on its platform. The Singapore-based business said it was discussing reorganization alternatives with its financial and legal consultants. The exchange’s crew stated that it was experiencing financial difficulties due to various factors in the cryptocurrency industry.

According to Vauld, consumer withdrawals totaled $197.7 million over the previous two months. Withdrawals began on June 12th, when Terraform Lab’s UST collapsed, causing a ripple effect through the cryptocurrency market. The latest situation with the suspension of withdrawals by Celsius Network and the default on loans by Three Arrows Capital made things worse.

Vauld’s management consulted financial and legal consultants to examine and analyze all feasible options. According to the company’s statement, the options include a possible reorganization that would best serve the interests of Vauld’s stakeholders.

As many feared, India’s crypto trading volumes fell precipitously last week when the government enacted a long-anticipated 1 percent transaction tax. Within a few days, the amount of trading on the country’s biggest stock exchanges had more than halved. It was only after July 1 that the tax went into effect that this dramatic decline was seen. The Indian government has implemented the tax rule to discourage cryptocurrency trading nationwide as part of a broader effort.

Meanwhile, Vauld management is looking for a solution, and the subsequent announcement could be about user withdrawals. According to the company’s release, they are currently talking with potential investors about joining the Vauld group of enterprises.

Celsius Goes Bankrupt

On Thursday, Celsius Network filed for bankruptcy according to Reuters, after looking into several possibilities including potential acquisitions and refinancing its debts.

Celsius froze withdrawals and transfers earlier this month, citing extraordinary market conditions, preventing its 1.7 million customers from redeeming their assets.

There has been a great deal of volatility in the digital asset market recently due to investors selling riskier investments because they are concerned that aggressive interest rate hikes to control stubborn inflation could send the economy into recession. The European Union has agreed on breakthrough regulations for monitoring crypto assets; EU legislators said on Thursday, as the crash in Bitcoin increases pressure on authorities to restrain the sector.

Since the collapse of TerraUSD (UST), a prominent stablecoin tied to the US dollar, in May, crypto assets have lost more than $400 billion. Another 6% drop on Thursday saw Bitcoin fall to $18,866.77, a loss of more than 70% from its peak in November last year. Similar to banks, Celsius took crypto deposits from retail clients and invested them in the equivalent of the wholesale crypto market, which includes “decentralized finance (DeFi),” sites that employ blockchain technology to deliver services from loans to insurance outside of the traditional financial market.

Celsius guaranteed enormous returns to retail consumers, sometimes as high as 19% yearly. As a result, individual investors have poured money into Celsius and other similar platforms in search of high yields and quick returns. Investors in crypto yield can expect lower returns after the bankruptcy, but hopefully other firms will try to fill the gap.

Rating: 9.33/10
Supply: 307,782,016 / 511,216,000
Release date: April 10, 2019

Description: How high yield can you get on BNB? Discover one of the top cryptocurrencies now!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.

Three Arrows Capital plunges into liquidation

A prominent cryptocurrency hedge fund named Three Arrows Capital has been liquidated, according to Crypto Lists, making it one of the greatest victims of the ongoing “crypto winter.” It has only been a few days since Teneo was brought on board to handle the liquidation process, which is still in its early stages. As soon as the assets of Three Arrows Capital get realized, the restructuring business will set up a website with instructions on how creditors can get in touch and submit any claims.

However, a drop in digital currency pricing, which has seen billions of dollars wiped off the market in recent weeks, has harmed Three Arrows Capital and exposed a liquidity crisis at the company. On Monday, Three Arrows Capital defaulted on credit from Voyager Digital consisting of $350 million in USDC, a stablecoin pegged to the U.S. dollar, and 15,250 Bitcoin, valued at around $304.5 million at current exchange rates. Three Arrows Capital was exposed to the defunct algorithmic stablecoins terraUSD and luna.

Cryptocurrency lending firms BlockFi and Genesis, based in the United States, reportedly liquidated part of the positions held by Three Arrows Capital earlier this month. BlockFi had loaned Three Arrows Capital, but the company could not fulfill its margin call. A margin call is a circumstance in which an investor is forced to make additional investments to prevent losing money on a deal made with borrowed money.

As Three Arrows Capital is winding down, there are growing concerns about the impact on other areas of the market that may have been exposed to the firm.

Liquidity problems have been reported by other cryptocurrency firms as well. Due to harsh market conditions, lending company Celsius and the cryptocurrency exchange CoinFlex were forced to halt customer withdrawals.
CoinFlex, on the other hand, ran into another issue with a client who did not pay back a $47 million loan, which caused a liquidity issue for the business.

Final Thoughts

In the light of many crypto sites giving too high a yield, Crypto Lists suggests that people can use Swissborg, Coinbase, FTX, and Binance mainly because these sites feel way safer and characterize more reasonable yields.

by Our Certified Author
Solana Coin Newsflash
    Solana is now integrated with Google's BigQuerySolana is now integrated with Google's BigQuery
    Tuesday, 31 Oct 2023 9:38 pm
    Google has made an important integration with Solana blockchain, making it simple to access historical Solana prices and transactions. Google Cloud and their BigQuery is now integrated with the Solana coin and blockchain. It was initially announced at Breakpoint in Lisbon 2022 and less than a year later, it's now fully integrated and can be used and found...
    Read the full newsflash

    WorldPay and VISA now work with Solana BlockchainWorldPay and VISA now work with Solana Blockchain
    Tuesday, 5 Sep 2023 8:12 pm
    The smart money seems to be finding their way into Solana (SOL). The private equity company GTCR acquired 55% stake in the payment processor WorldPay earlier this year, with Fidelity National Information Services (FIS) as the other major stakeholder. Today, Visa announced that they work with WorldPay and Nuvei to accept USDC stablecoin over the Solana network. Earlier, only USDC payments through the more expensive Ethereum Network was supported. This could be major positive news for Solana reaching mainstream consumers and investors, that are looking for a fast and affordable blockchain and native coin. Solana (SOL) was up over 4.6% following the news from VISA, while Bitcoin (BTC) is down 0.6% for the day and ETH is up a modest 0.2%. Is the next step an increasing amount of Solana casinos, following rather high gas fees for transfers...
    Read the full newsflash

    Solis Bet: a new Cardano casino with a juicy welcome bonus!Solis Bet: a new Cardano casino with a juicy welcome bonus!
    Thursday, 31 Aug 2023 11:46 am
    There are exciting new crypto casinos popping up all the time, but at Crypto Lists we like to think we've got a pretty discerning eye and only review the best ones. One that we published today is the awesome Solis Bet (review). One thing we really liked with Solis was that you can deposit with Cardano (ADA). So, in simple terms it's a Cardano casino, a flourishing niche and one that sits alongside others including Solana casinos. And, there are 2000 games for you to enjoy from developers like BGaming, which is really cool because new casinos often don't have any big names. If you sign up now, you can get a welcome bonus worth up to 1250 EUR. So, what are you waiting for? Try Solis Bet now and get your hands on some tip-top prizes and play some great...
    Read the full newsflash

    Highest Rated Solana casinos in August, 2023Highest Rated Solana casinos in August, 2023
    Friday, 25 Aug 2023 9:21 pm
    Don't care about anything but the best and fastest, or perhaps you like the newest? Well, CryptoCasino (facts) is a combination of both and they have super high rating from our independent reviewers. At this brand new crypto casino, you can deposit with Solana and take out money with SOL as well. Everything goes in crazy fast and during out tests it took less than 5 seconds for a deposit to arrive. Sign-up for CryptoCasino now and enjoy the best reward program in the industry, a fantastic selection of games and obviously full Solana support. Another of the latest reviews is for the global Betplay casino. They also take pride in immediate deposits and just as quick payouts. They have a lovely design and been around for almost 2 years and it's available for most countries around the world. Give BetPlay a try now! Few others can compete with their offering, design and speed of...
    Read the full newsflash

    CryptoCasino: a brand new casino with SOL deposit and playCryptoCasino: a brand new casino with SOL deposit and play
    Monday, 21 Aug 2023 10:47 am

    If you're keen to try a brand new crypto casino that comes with 15% cashback, a match deposit bonus, 50 free spins on registration, and more crypto deposit options than you can shake a stick at then let us introduce you to the one and only CryptoCasino (review). It's loyalty program is simply exquisite, with 30+ levels to climb, each one more bountiful than the last. And, with seven tiers to pass through, you can expect some truly marvelous rewards to come your way, including holidays paid for on the house. Kerching! It's also one of the very best Solana casinos, allowing you to both deposit and play with the popular coin. Not many casinos offer this, so it's yet another feature that separates CryptoCasino from the rest of the pack. Sound good? Thought so. Play CryptoCasino now and claim your 50 free spins before...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
  • MMX logo
  • CorgiAI logo
  • IPVERSE logo
  • Book.io logo
Keep up to date with

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
* indicates required
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top