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Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears

Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge …

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Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to …

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Chinese stocks climb as Asia-Pacific markets rise; RBA expects inflation to peak by year end

Chinese stocks climb as Asia-Pacific markets rise; RBA expects inflation to peak by year end

SINGAPORE — Asia-Pacific markets were mostly buoyant on Tuesday while bitcoin continued to rise after a recent rebound. Meanwhile, Australia’s central bank says inflation will peak by the end of the year. The Shanghai Composite in mainland China traded higher at 0.22% while the Shenzhen Component gained by 0.15%. Hong Kong’s Hang Seng index climbed 0.79%, with tech stocks …

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What you need to know about staked ether, the token at the center of crypto's liquidity crisis

What you need to know about staked ether, the token at the center of crypto’s liquidity crisis

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for …

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