USDC Backed by $55.7 Billion in Reserves Mostly Held in U.S. Treasuries
USDC is sufficiently backed with $55.7 billion in reserves mostly held in U.S. Treasuries and cash in regulated banks.
Crypto News
General
Crypto News
DeFi
Celsius Network Files for Bankruptcy, has $167 Million in Cash
Celsius Network has filed for bankruptcy in New York to stabilize and restructure less than a month after suspending withdrawals.
Crypto News
Metaverse
Yuga Labs to Release the “First Trip” Demo of the Otherside Meta
The “First Trip” demo of the Otherside Meta, a highly interactive metaverse game by Yuga Labs, would be released on Saturday, July 16.
Bitcoin
Crypto News
Bitcoin Miners in Texas Switch off 1,000 MW of Electricity Load
Bitcoin mining farms in Texas responded to ERCOT’s request by taking off 1,000 MW of electricity load for retail and commercial use.
Crypto News
DeFi
NFT
Omni, an NFTs-for-ETH Loans Platform, Hacked for over $1.45 Million
Omni, an NFTs-for-ETH loans protocol, lost $1.45 million of their internal testing ETH to a hacker on July 10, 2022.
Crypto News
Regulation
White House, FED, Treasury Department, and all U.S. Government Employees with Exposure to Crypto cannot write on Crypto Policy
The U.S. Office of Government Ethics (OGE) now bans all government employees with crypto exposure from commenting on digital asset policy.
General
ShareRing to Hold a Free Entry NFT Technology Preview Party in Melbourne
ShareRing will hold an NFT Technology Preview Party in Melbourne, Australia, on July 15, 2022, from 8 PM to 11 PM. Public invitations are now closed. For press invites, please contact them at jonathon.l@sharering.network. As a networking event, attendees will be free to meet and mingle with blockchain industry professionals, including the CEO and Founder […]
Crypto News
Exchange
FTX Has $2 Billion in Cash to Bailout Strategic Crypto Firms
FTX has $2 billion in cash and will offer credit lines to distressed strategic crypto firms to prevent a contagion.
Crypto News
DeFi
Centralized Crypto Lending Firms are to Blame for their Failure
Robert Leshner of Compound Finance has said centralized crypto lending firms are to blame for their failure and is good for DeFi protocols.
Crypto News
General
Users Prefer Litecoin (LTC) on BitPay, Payment Count Rose 21% in June
Litecoin transactions via BitPay, the world’s oldest crypto payment processor, are up 21 percent, pointing to increasing demand for low fees.