bitcoincollapse
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News & Articles By Ethan Huff
08/01/2022
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By Ethan Huff
The scandal-ridden crypto industry is imploding, with Celsius firing 25% of its workforce as collapse contagion spreads
Almost one-quarter of the workforce at American-Israeli crypto lender Celsius was laid off last month as the company faces restructuring and possible insolvency. According to LinkedIn, Celsius has about 650 staff members, but 150 of them were let go amid a financial crisis that saw customer withdrawals halted in June. Celsius cited “extreme market conditions” […]
07/13/2022
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By Ethan Huff
3AC crypto founders flee as multiple crypto Ponzi schemes collapse
Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies are nowhere to be found following the demise of the fraudulent company. As we reported, 3AC failed to repay a loan on 15,250 bitcoins. And now that investors are trying to recoup their investments, the location of 3AC’s top dogs is “currently unknown.” According to […]
07/06/2022
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By Ethan Huff
Coinbase SPIES for the government by geo-tracking its own users and sharing gathered data with the feds
To anyone who has used the platform, it is pretty obvious that things are not quite right and that it is probably not a good idea to store your cryptocurrency holdings there. But now there is solid proof that Coinbase really is just a government-run honeypot operation that quietly sells its users’ data and information […]
07/06/2022
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By Ethan Huff
Collapsed crypto hedge fund Three Arrows Capital now revealed to be a massive international fraud hidden behind complex legal structures
The Three Arrows Capital saga is far from over after it was revealed that the now-defunct crypto hedge fund is part of an international criminal conspiracy involving massive financial fraud. An obscure legal entity, reports indicate, continues to aggressively trade digital assets and is possibly shielding some of them from recovery. “While Three Arrows Capital […]
07/01/2022
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By Ethan Huff
The Ponzi NFT market is collapsing as people realize that stupid images of cartoon rocks are never going to have intrinsic value
Since reaching its peak late last summer, the market for non-fungible tokens (NFTs) has cratered. Images that were worth (supposedly) thousands or even millions of dollars are now being pushed for a tiny fraction of that with no buyers. It seems that NFTs, at least in their current use applications, are mostly a bust. Much […]
06/29/2022
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By Ethan Huff
CRYPTO CONTAGION: Three Arrows Capital defaults after failing to make required payment on loan of 15,250 bitcoins
Voyager Digital LLC just issued a notice of default to Three Arrows Capital (3AC) after the latter failed to make the required payments on a loan of 15,250 bitcoins (BTC) and $350 million of USD Coin (USDC). Another domino to fall in the cryptocurrency collapse contagion, 3AC will now have to work with Voyager’s advisors […]
06/15/2022
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By Ethan Huff
Bitcoin and nearly all other crypto PLUMMET amid crashing markets
More than $200 billion was wiped off the cryptocurrency market over the weekend as Bitcoin, the global crypto leader, shed about 20 percent from its price. As of this writing, Bitcoin is hovering around $21,000 per coin, which is about one-third of what it was around Christmastime. Nearly every other crypto coin out there plunged […]
06/12/2022
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By Ethan Huff
Housing bubble about to burst? Mortgage applications crash to 22-year low as monthly payments skyrocket
There could be some potentially good news on the horizon for prospective home buyers who have been patiently waiting for a lower and much more reasonable entry point into the housing market. The sky-high real estate bubble that has been inflating for many years now is showing signs of an impending burst as mortgage applications […]
05/14/2022
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By Ethan Huff
Crypto “HODLers” getting SUICIDAL as entire life savings now VANISHING in accelerating crypto carnage
People who lost everything in Terra (UST) and Luna are now contemplating suicide after having their lives ruined by more cryptocurrency scams. On Reddit, one person wrote that his friend and ex-manager of 15 years tried to commit suicide after moving basically all of his life savings to crypto in 2021. “… Luna was a […]
05/13/2022
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By Ethan Huff
CoinDesk outs Terra stablecoin founder as the same person behind failed “Basis Cash” experiment that crashed and burned
Terra creator Do Kwon is apparently a longtime scam artist who also put together the failed algorithmic stablecoin “Basis Cash” (BAC), which was launched through Ethereum in 2020. Just like the now-failed Terra coin, BAC “sought to maintain a $1 peg through code, not collateral,” according to CoinDesk. BAC ultimately failed, never reaching dollar parity […]
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