Zipmex, the lender that had halted customer withdrawals on July 20, is allowing customers to access and withdraw up to 0.08 Ethereum (ETH) tokens, worth around $153 at the time of writing, starting Aug. 11 The firm will transfer the ETH tokens from the users’ Z wallets, used to earn interest and bonus, to the…
Virginia’s Fairfax County Retirement Systems is set to invest its $6.8 billion pension fund in cryptocurrency yield farming to boost returns, the Financial Times reported on Aug 4. The retirement systems fund recently gained approval from its board of trustees for the move, according to the news outlet. Katherine Molnar, chief investment officer of the…
Crypto platform Zipmex, which froze withdrawals on July 20, is gradually resuming withdrawals from its Z wallet, according to an Aug. 1 blog post. The firm had resumed withdrawals from its Trade wallet on July 22. The firm’s Z wallet is used for receiving earnings and bonuses while its Trade wallet is used for trading…
A governance proposal to create a crypto-backed stablecoin on the Aave protocol has been unanimously approved by the Aave community in a snapshot voting which lasted till Sunday. On July 7, 2022, a proposal was introduced by Aave Companies (development team of Aave protocol) for the launch of GHO, an overcollateralized and US dollar-pegged stablecoin….
Crypto platform Vauld, which halted customer withdrawals last month, has secured protection against creditors for three months from the Singapore High Court, Bloomberg News reported Aug. 1. Vauld’s parent company Defi Payment Ltd. had requested the court for a six-month moratorium. However, the court only granted a moratorium for three months, which will last till…
Embattled crypto lender Celsius Network has revealed via email that some of its customers’ data were breached by an employee of Customer.io. Announcement from Celsius: “We are writing to let you know that wewere recently informed by our vendorhttps://t.co/452EROQtbc that one of their employeesaccessed a list of Celsius client emailaddresses held on their platform andtransferred…
Liquidity issues in the crypto market have forced some of the larger companies in the space to post transparency reports addressing the ongoing crisis. BlockFi, a centralized crypto lender, published its own quarterly transparency report after receiving a much-needed financial injection from FTX.US. The lender received a $400 million revolving credit facility from the U.S….
Nexo, a popular crypto lending platform, has partnered with Mastercard to launch a crypto-backed card. Officially revealed in April, the payment card is tied to Nexo’s Instant Crypto Credit Lines, allowing users to use digital assets as collateral. And while Nexo isn’t the first in the game when it comes to crypto payment cards, the…
Invictus Capital, a crypto investment firm based in South Africa, moved crypto from funds designated for investments with “no anticipated downside risk” into Terra USD and held the tokens through the UST de-peg event citing “pretty amazing interest” as justification for hholding through the crash. Highlights Invictus Capital invested millions of dollars of investor funds…
Struggling crypto lender Celsius has filed for Chapter 11 bankruptcy in the US which could mean users may be unable to recover their funds. Court filings showed that the crypto lender filed for bankruptcy on July 13. Celsius CEO Alex Mashinsky said the move is geared toward restoring confidence in the company’s future. In his words,…