X

Isabella from Columbus

Signed up at Wild IO Casino 24 minutes ago.

» Try Wild IO 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: 9.4/10
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
    Fresh Thursdays: try the brand new Crown Play with SOLFresh Thursdays: try the brand new Crown Play with SOL
    Thursday, 15 Feb 2024 10:25 am
    Act like a king on a new casino launched in January with a 500 USDT welcome bonus. That's right, why not check out our review of Crown Play (review), a site from the team over at Rabidi with almost 100 software developers and an amazing array of cryptos to deposit. One of the best things is USDT on Ethereum Tron, or Solana networks for maximum convenience and blazing speeds. When we deposited using USDT on Solana the funds arrived in mere minutes. Similarly, with SOL it was even faster! Amazing. Get your hands on some top bonuses and a top sportsbetting section by registering now on Crown Play...
    Read the full newsflash


    MetaWin adds Solana for casino depositsMetaWin adds Solana for casino deposits
    Friday, 2 Feb 2024 4:05 pm
    MetaWin (see review) confirms that Solana (SOL) is not accepted. They are giving away 400 SOL - worth over 40 000 USD - to 10 lucky winners. Sign-up now to grab a...
    Read the full newsflash


    Play on Payday, a new crypto casino with Solana withdrawalsPlay on Payday, a new crypto casino with Solana withdrawals
    Tuesday, 16 Jan 2024 9:34 am
    Payday loans don't have the best reputation, but we've got a new casino review that sounds similar but tastes a whole lot different. Launched in spring of last year and still finding its feet for the first few months of operation, in 2024, Payday Casino (learn more) delivers and then some. With loads of cryptos to choose from including niche ones like Stellar Lumens (XLM) and super speedy ones like Solana (SOL) you've got loads to play with. Withdrawals are timely too, processed and sent out within a day. Usually within an hour. With 1000 games coming thick and fast from some well known developers like Spinomenal and Tom Horn, you're in for one heck of a treat. Sign up to Payday and experience fun...
    Read the full newsflash


    SOL down 4.5%: time to play on a leading Solana casino?SOL down 4.5%: time to play on a leading Solana casino?
    Wednesday, 10 Jan 2024 12:42 pm
    When your favorite coin starts to go down in value, that can be a pretty good time to play with it compared to when it starts to rise and HODLing sets in. LTC Casino (see more) is among the very best Solana casinos we've ever reviewed on Crypto Lists and is a firm favorite among our readers. It's got 5 second signup without any KYC when you register, deposit, or withdraw. Amazing. Although there's no welcome bonus, there are tons of ways to win including special tournaments and super-fun crash games. And, high RTP slots are one of the specialities! What are you waiting for? Sign up now and see if you like LTC Casino's...
    Read the full newsflash


    Early Christmas for Solana fans: Top 4 crypto by market capEarly Christmas for Solana fans: Top 4 crypto by market cap
    Friday, 22 Dec 2023 7:28 pm
    In terms of raised market capitalization among major cryptocurrencies, there is a clear new winner among alt coins in December 2023. Solana (SOL) has gone past both XRP earlier this week and overtook BNB today to become the 4th biggest cryptocurrency in terms of market cap. In terms of daily transaction volume, Ether (ETH) is still more than 3x bigger and Bitcoin (BTC) almost 4 times bigger. But the gap has been narrowing lately and the Solana token is one of the big winners in the end of 2023 among the bigger cryptocurrencies. Among the slightly smaller ones, Near (NEAR) has gone from 1 USDT the 20th of October to 3.32 USDT when writing this. Another big winner the last month is Helium, going from 2.26 USDT one month ago to 7.22 USDT today. What...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
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
exclusives.
* indicates required
CryptoLists.com
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