Bankrupt Crypto Entrepreneurs Nowhere To Be Found After Investors Come Knocking

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Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies are nowhere to be found after the hedge fund went bankrupt. Beyond filing for bankruptcy earlier in July, the Singapore-based company defaulted on a $670 million loan and failed to repay $270 million to virtual currency exchange Blockchain.com, according to The Verge, even as the...

IMF global outlook suggests dark clouds ahead for crypto

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Investors are warning of further volatility in the digital asset markets as the International Monetary Fund (IMF) forecasts a slowdown in global economic growth. The IMF’s July update on the World Economic Outlook titled “Gloomy and More Uncertain” points to “higher-than-expected inflation,” and a contraction of global output as indicators of incoming poor economic growth....

Argentinean soccer club welcomes first crypto signing amid economic downturn

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Argentina’s economic restrictions have reached the sports industry, with the first signing of a local football player with cryptocurrencies hitting national headlines. The transfer of midfielder Giuliano Galoppo from Banfield’s Athletic Club to Sao Paulo Futebol Clube was made in USD Coin (USDC), exceeding $6 million and up to $8 million depending on the volatile...

Bitcoin Dipped Below $19K: Crypto Eyes Another Red Week (Market Watch)

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Bitcoin’s weekend continues to be calmer than the previous several days as the asset sits still around $19,000. The altcoins are in a similar position, with little-to-no significant movements from the larger-cap ones. Bitcoin Stays Still at $19K Last week didn’t end all that well for the primary cryptocurrency, which had actually spiked to nearly...

Crypto Market Back Above $1 Trillion as Bitcoin, Ethereum Rebound – Decrypt

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After weeks of frustration for investors, Bitcoin (BTC) soared to a monthly high of $22,430 on Monday morning, bringing some minor relief to what has been a dramatic crash in prices of late. Although the leading cryptocurrency has cooled somewhat at the time of writing, trading at $22,280, Bitcoin is still up 3.6% over the...

Crypto to reach 1 billion users in 2030: BCG Report

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It’s a widespread sentiment for people outside of the crypto community to look at Bitcoin (BTC) prices and conclude that it’s too late to get into crypto. However, a report shows that the industry is still at the beginning phase of the adoption curve.  In a joint report published by Boston Consulting Group, Bitget and...

Man City crypto partner becomes their new training kit sponsor – Manchester Evening News

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Manchester City have extended their partnership with OKX by announcing the cryptocurrency exchange platform as the new training kit sponsor. Earlier this year the club named OKX as their first “official cryptocurrency exchange partner” in a multi-million pound deal, and have moved to strengthen the relationship this summer. As well as sponsoring the club’s trophy...

When worlds collide: Joining Web3 and crypto from Web2

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A friend of mine who is a seasoned Web2 tech executive joined a Web3 company in June. A switched-on operator, he asked to speak with all 16 staff before deciding to join the firm. This shows that Web3 joiners need to really hone in on the mission when jumping ship from the old tech world....

Deep in Crypto Winter, a CryptoPunks Ethereum NFT Sells for $2.6M – Decrypt

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In brief The crypto market has been and NFT prices and trading volume . But even amid the so-called crypto winter (in summer), a desirable can still command a multi-million dollar price tag, as we saw last night. Late on Tuesday, CryptoPunk #4464 , or just over $2.6 million at the time of sale. This...

Founders of bankrupt crypto hedge fund Three Arrows go missing

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Now, 3AC is in bankruptcy court, facing angry lenders who want their money back. Global advisory firm Teneo was hired to help manage the liquidation, starting with trying to determine what was left. According to Friday’s court filing, Zhu and Davies, both former traders for Credit Suisse, participated in an introductory Zoom call last week...