Crypto markets rebounded over the July 4th weekend as Bitcoin and Ethereum reclaimed their $20,000 and $1,100 resistance levels, respectively.
Crypto hedge fund Three Arrows Capital filed for Chapter 15 bankruptcy. According to the court papers, the ancillary Chapter 15 proceeding will prevent liquidators and creditors from seizing the firm’s US assets.
Crypto exchange FTX finalized a deal with an option to buy distressed crypto lender BlockFi for $240M. The deal also provided BlockFi with a $400M revolving credit facility which is subordinate to all client funds.
According to a study from Deloitte, 75% of US retail organizations plan to accept crypto or stablecoin payments within the next two years. The survey also revealed that large retailers with $500M+ in revenues are spending over $1M in building out the required infrastructure to accommodate the technological shift.
TSX-listed Voyager Digital has filed for Chapter 11 bankruptcy protection just days after suspending trading, withdrawals, and deposits to explore strategic partnerships.
According to European lawmaker Stefan Berger (CNBC), the European Commission and member states have come to an agreement on the Markets in Crypto-Assets act. The framework will establish as a standard licensing system across all EU member states to help regulate crypto markets, assets, and service providers