This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH). Trading firm 8 Blocks Capital called out to platforms holding funds owned by 3AC to freeze the assets as rumors of 3AC’s insolvency stay afloat. Micheal Saylor believes Bitcoin (BTC) and the Lightning Network can solve many of the DeFi ecosystem problems. The …

Bitcoin (BTC) megahodler MicroStrategy can ride out further BTC price declines, even if it falls to just $3,500, its CEO confirms. In a tweet on June 14, Michael Saylor sought to allay fears that his firm's BTC exposure may be about to cost it dearly. Saylor stays calm as MSTR dips further With the largest corporate Bitcoin treasury, MicroStrategy has felt the pain of this year's BTC price declines — at least on paper. According to the monitoring resource Bitcoin Treasuries, the firm's 129,218 BTC stack is currently being held at a net loss of $1.06 billion — around two-thirds …

Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This shows that traders are demanding higher rates to hold their debt instruments and expect inflation to remain a persistent challenge. Louis S. Barnes, a senior loan officer at Cherry Creek, stated that as the United States reported its highest inflation in 40 years, the mortgage-backed securities (MBS) markets had zero buyers. Barnes added: "Stocks are down 2% today [June 10], but would be down a hell of …

As the bear market bites, holding crypto investments can be a tough pill to swallow. Consider two of the largest bag holders of publicly traded companies. They are down by almost $2 billion dollars on their Bitcoin (BTC) buys. According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin held by Microstrategy and Tesla, respectively, are worth considerable sums less. For Microstrategy, Michael Saylor splashed out almost $4 billion ($3,965,863,658) on 129,218 BTC, approximately 0.615% of the 21 million total supply. The Bitcoin price nosedive has ripped away earlier gains: The investment is worth $3.1 billion ($3,074,987,824), a loss of $900 million. …

The tiny Portuguese archipelago of Madeira has “adopted” Bitcoin (BTC) — but what does that mean? The announcement, made during the Bitcoin 2022 conference in Miami, has spurned confusion and misinformation. Miguel Albuquerque, the president of the Regional Government of Madeira, hopped on the stage in April to announce: “I believe in the future, and I believe in Bitcoin.” He also said he would work to “create in Madeira a fantastic environment for Bitcoin.” However, the details remained unclear. Cointelegraph spoke to André Loja, a Madeiran entrepreneur who spearheaded the plan to bring BTC to the archipelago in the Atlantic …

Terra’s meltdown forced cryptocurrency investors to ask a question they never thought was possible: Will TerraUSD (UST) or Terra (LUNA) reach $1.00 first? The magnitude of this question provides a sobering reminder of just how quickly things can change in crypto. While Terraform Labs co-founder Do Kwon remains defiant, many people in the industry are beginning to distance themselves from the protocol they thought was delivering real-world utility for stablecoins and Bitcoin (BTC). The threat of contagion from Terra’s apparent collapse could take months or even years to fully quantify, but it looks like the howls of crypto winter are …

Bitcoin (BTC) proponent and MicroStrategy CEO Michael Saylor has welcomed the United States Financial Accounting Standards Board (FASB) vote to review accounting rules for digital assets and commodities. As it stands under current FASB guidelines — which is the source of authoritative Generally Accepted Accounting Principles (GAAP) — companies must report digital assets such as BTC as “intangible assets” on their balance sheets. This is due to crypto not meeting the agreed definition of “cash and cash equivalents, financial instruments, financial assets, and inventory” among the agency. Since crypto is deemed as an intangible asset, companies are required to measure …

MicroStrategy’s CEO and Bitcoin proponent Michael Saylor is confident his firm’s BTC holdings will more than cover a potential margin call on Bitcoin-backed loans. The American business intelligence and software giant made headlines in 2021 with a number of major investments into Bitcoin. Saylor was a driving force behind MicroStrategy’s decision to convert its treasury reserve into BTC holdings. Global markets have suffered major losses in early May and Microstrategy’s stock has not been spared. MSTR has seen its value drop by 24% and the value of Bitcoin has also slumped considerably along with the wider cryptocurrency markets. This is …

Wall Street’s slow embrace of crypto means we all have to start watching the Federal Reserve again. Cointelegraph parsed through the latest Federal Open Market Committee (FOMC) policy statement on Wednesday to try and uncover some nuggets of useful information. You can think of it as an exercise in financial esoterics to uncover the hidden meaning behind the Fed’s decision-making. As it turns out, the decision to raise interest rates by 50 basis points was already expected, so the actual FOMC document provided very little new information. But, Fed Chair Jerome Powell sparked a late rally in crypto and stocks …

Bitcoin (BTC) saw classic “choppy” price action on May 4 with hours to go before fresh Federal Reserve cues. Bulls pin hopes on history Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it bounced between support and resistance after hitting $37,600 on the evening of May 3. A subsequent bounceback saw the pair clip $39,000 at the time of writing, providing relief to low-timeframe traders at 4.1% off the lows. More broadly, however, Bitcoin stayed rangebound and beholden to macro triggers as markets braced for Fbrace for Fed-induced volatility. The two-day meeting of the Federal Open Markets Committee …

Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy. In MicroStrategy’s report for the first quarter of 2022 released on Tuesday, the firm said it “may conservatively explore future yield generation opportunities on unencumbered MacroStrategy bitcoins” as a consideration following a $205 million BTC-collateralized loan issued by Silvergate Bank in March. As of March 31, MicroStrategy held a total of 129,218 BTC, which the firm reported had a carrying value of roughly $2.9 billion, reflecting cumulative impairment losses of more than $1 billion and an aggregate cost …

Blockchain.com, a cryptocurrency exchange and financial services firm, has named Standard Custody & Trust Company as the custodian for Blockchain.com and Altis Partner's new institutional platform, Blockchain.com Asset Management (BCAM). On April 6, Blockchain.com introduced a suite of institutional investment solutions that combine the crypto trading infrastructure, research and security software services of Blockchain.com in partnership with investment management firm Altis Partners. According to the Thursday announcement, Standard Custody's service is regulated, insured and led by a team of experts from the crypto and financial services industry. Charles McGarraugh, Altis Partners' chief investment officer, stated that: “The advent of distributed …