Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 13. – 19. July 2022
Welcome to another issue of Crypto NFT Today! If you like cryptocurrencies, NFTs and running emotional roller coasters, this is the place to be. So, are you ready for the crunch? Let’s get started.
3AC founders are missing, likely running from creditors after announcing bankruptcy
According to a lawsuit from Friday, the co-founders of the bankrupt crypto hedge fund Three Arrows Capital are missing.
Zhu Su and Kyle Davies, who started Three Arrows Capital in 2012, were scheduled to appear at a hearing at 9 a.m. Tuesday to discuss the next steps in the liquidation process. The conspicuous absence of the two has led interested parties to believe that they are running from creditors.
The documents, submitted on Friday night, also claim that the founders have not yet begun to cooperate with the liquidation process “in any meaningful way”.
At its height, Three Arrows, also known as 3AC, managed about $ 10 billion in assets.
On July 1, the firm applied for Chapter 15 bankruptcy protection from U.S. creditors in the southern district of New York, after a plunge in cryptocurrencies and the collapse of the terraUSD (UST) stablecoin project wiped out the assets, according to CNBC.
Inflation rises to the highest level in 40 years, Major Crypto is caught in the crossfire
As inflation continues to rise, the prices of Bitcoin and Ethereum will fall. Annual inflation in the US reached 9.1% in June – a figure higher than analysts expected. As large cryptocurrencies fall more in line with the general economy, the largest of them, Bitcoin and Ethereum, are hit in the face of rising inflation and an increasingly bear market.
Inflation is at its highest level in over 40 years, and the figure of 9.1% in June is a jump of 1.3% from the previous month.
BTC fell to a weekly low of $ 19,021.07 on Wednesday, falling 4% in one day and almost 6% in a week. ETH was at $ 1,059.12 a share in mid-Wednesday after falling nearly 5% in one day and 10% in a week, according to Robinhood.
Bitcoin investors are bearish on Outlook, new surveys show
Bitcoin has remained relatively stable around the $ 20,000 mark in recent weeks after the cryptocurrency meltdown. But a new study suggests that Bitcoin is more likely to reach $ 10,000 than $ 30,000.
According to a new MLIV survey, the majority of Bitcoin falls to $ 10,000, with retail investors more bearish on crypto than professionals.
Sixty percent of the 950 investors surveyed believe Bitcoin is declining towards $ 10,000, while only 40% believe it is heading back towards the $ 30,000 mark.
About $ 2 trillion has disappeared from the market value of cryptocurrencies since the end of last year, according to data collected by CoinGecko.
Inflection Points for companies that employ crypto secure millions in financing
A new crypto-hiring company founded by Colton Sakamoto and longtime crypto-founder and investor Anthony Pompliano has just secured $ 12.6 million in financing.
The company, called Inflection Points, has developed a crypto-focused employment and business training business over the past 18 months to help connect crypto companies looking for talent with people who wanted to enter the area, according to TechCrunch.
Pompliano manages a portfolio worth over $ 500 million and has invested in over 100 companies in the early stages, including the cryptocurrency exchange Coinbase and the recently acquired FTX crypto loan company BlockFi.
“On the site, I have built a large content platform. In crypto, I would always ask the founders of different platforms what they need help with, and over and over again they would say, ‘if you have great talent, send them my way,’ “Pompliano said. “You expect it to some degree, but after hearing that so many times I learned that companies really struggled to find people, and meanwhile my inbox was full of people who wanted to move into the industry.”
How the United States could regulate crypto
