Crypto Market Highlights June 30, 2022

Crypto Market Highlights: General News

  • BlockFi’s Loan To 3AC Was $1 Billion, Morgan Creek Digital Says. According to Morgan Creek Digital, BlockFi lent 3AC $1 billion, with 2/3 of the loan’s security being bitcoin and 1/3 being GBTC. During the call, Yusko asserted that 3AC had provided around $1.33 billion in assets, which amounted to a 30% overcollateralization of the $1 billion loan. Later, co-founder Anthony Pompliano of Morgan Creek said that two-thirds of that sum were bitcoin, which was promptly confiscated and liquidated, and the last third was made up of shares of GBTC.
  • OpenSea Leaked User Emails. In its June 30 post, OpenSea claimed an employee of, a third-party partner of the NFT trading platform, “misused their employee access to download & share email addresses with an unauthorized external party.” OpenSea said that all users who provided email to the exchange may have been affected by the above action. The exchange has also sent notices to users who have been found to have leaked emails. Users should change the email linking to the platform to avoid receiving spam or phishing emails.
  • The First European Spot Bitcoin ETF Will Debut In July! A European spot bitcoin ETF will be introduced in July, according to a statement from Jacobi Asset Management. The Jacobi Bitcoin ETF will be the name of the exchange-traded fund, which will be listed on Euronext Amerstdam. For a 1.5% yearly management fee, institutional and professional investors in Europe will be able to purchase Bitcoin through the ETF using the ticket BCOIN.
  • Coinbase Announces Sonala Staking Support. In an announcement, Coinbase said it will begin distributing staking rewards with 3.85% APY to those who own Solana (SOL) and lock them on the network. This is the next move after Coinbase has integrated the Solana blockchain into its wallet. Accordingly, SOL is the next coin supported by Coinbase after Ethereum (ETH), Algorand (ALGO), Cosmos (ATOM), Dai (DAI), Tezos (XTZ) and Cardano (ADA).
  • Arbitrum Announces The Suspension Of The Odyssey Activity. Immediately after the recent news of Arbitrum’s “congestion”, this Layer-2 network announced the suspension of Odyssey activity. Specifically, Odyssey is an activity to encourage users to use products in the ecosystem. However, because of the “hot” activities from the airdrop hunting team, this Layer-2 network is almost overloaded and the transaction fees sometimes exceed Ethereum. In its latest announcement, Arbitrum said it will suspend Odyssey and will restart once the Nitro upgrade is complete.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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