Celsius Network, a crypto lending services provider, announced on July 13 that it has filed for Chapter 11 bankruptcy. The bankruptcy filing says the platform made “certain poor asset deployment decisions” when the platform grew faster than it anticipated. It also confirms its liabilities outweigh its assets by $1.2 billion. After a series of descending…

Alpha in DeFi is about to get a lot scarcer, although still super attractive. Luckily, risk management will eventually get much simpler, suggests Jesus Rodriguez, the CEO of IntoTheBlock, in an article on CoinDesk. Decentralized finance (DeFi) has been one of the areas of crypto most affected during the recent market downturn. From the collapse…

Aarma Coin, a crypto project recently launched in Dubai, has announced the launch of its own NFT marketplace, an E-commerce platform with a utility portal. In July 2022, the team plans to launch its Aarma Wallet, with an extensive roadmap ahead. Aarma Coin, a promising cryptocurrency project, was registered in Dubai, UAE, in 2022. With…

Bitcoin is more likely to plummet to $10,000 than soar again above $30,000 following the recent downturn in the market, said the results of a survey published on July 11. According to the latest MLIV Pulse survey, Bitcoin is more likely to tumble to $10,000 than it is to rally back to $30,000, said 60%…

Alawad Fund selected MetaBitcoin (MBTC), which implements all Bitcoin ecosystems identically within the metaverse ecosystem, as its first investment destination. Jointly with prominent partners, Alawad Fund plans to invest in promising blockchain projects, virtual-asset startups, cryptocurrency exchanges, and bitcoin mining. On March 26, Alawad Fund was launched in Dubai, the city attracting global attention as…

Animoca Brands, a Hong Kong-based gaming software and venture capital company, has completed a $75.32 million raise at a pre-money valuation of $5.9 billion, the company said Tuesday. The raise is the second part of a funding round, bringing in $358.88 million. In January, the company hit a valuation of more than $5 billion after…

Multicoin Capital, the crypto investment firm known for its backing of multiple Web3 and DeFi projects, announced its latest fund, Venture Fund III, with commitments of up to $430 million. The fund will be used for investments in projects based on a “proof of physical work” model, permissionless data aggregation, and offering creator monetization. Multicoin…

Crypto firms are flocking to Dubai despite local crypto trading regulations are tightening. A new law has been the most significant factor in generating interest in the UAE. Dubai is the financial hub of the Emirates, which has also encouraged cryptocurrency players to move to Dubai. The UAE has added a grey list to help…

Around 50 projects built on Terra, including the NFT marketplace OnePlanet and metaverse game Derby Stars, have begun migrating to Polygon, while more are on the way. Recent Terra’s collapse wiped out billions of dollars in value. It also left dozens of projects homeless. “We will be putting capital and resources against these migrations to…

The UAE has signed a memorandum of understanding with blockchain intelligence firm Chainalysis. The agreement will see Chainalysis train employees of government institutions in the areas of blockchain technology and digital assets. According to a report by UAE’s official news agency Emirates News Agency (WAM), the memorandum of understanding (MoU) was signed by Omar bin…