Market Update

Market Update

Bitcoin (BTC): ⬆️ 2.37 $21,187 MC: $444.5 B TV:29.7 B

Ethereum (ETH): ⬆️ 8.8% $1,352 MC: $162.7 B TV: 21.1 B

BNB (BNB): ⬆️ 5.31% $250 MC: $41.0 B TV:$1.2 B

XRP (XRP): ⬆️ 2.33% $0.34 MC: $16.8 B TV: $1.3 B

MetaPets (MTP): ⬆️ 6.8 $0.00000000004981 MC: $4.9 M TV: $1,950

Market Updates:

• Voyager seeks to honor withdrawal requests from the custodian bank.

-VGX made a 135% rally despite filing for bankruptcy. After a spike up to $0.94 the currency has now fallen back down to $0.36.

• A group of early investors named MetaForm Labs has started a Twitter trend called #PumpVGXJuly18 in an attempt to pump the currency back up. The group does not like seeing their stakes down and believes there will be an industry wide run on July 18th.

• According to Rueters, another company is effected by the Three Arrows Capital fall. 3AC defaulted on a $270 M loan with Blockchain.com.

-Celcius filed for Chapter 11 protection on Wednesday July 13. Withdrawals were paused on June 12. According to their terms of service, customers were warned that they may loose their holdings in the event of bankruptcy. According to Fortune, the "Custody" account holders retain ownership of their assets but are not guaranteed to get their money back. "Earn" accounts grant Celcius ownership of funds as a condition of use. Celcius claims that they are going to try to restructure and has the funds to distribute to unsecured creditors like customers. Many are upset because they have started paying back other decentralized finance services before restoring customer access to their funds. According to State Regulators, "The department believes Celcius is deeply insolvent and lacks the assets and liquidity to honor it's obligations to account holders and other creditors."

-Back in May, Coinbase added a disclosure in their quarterly earnings statement stating that in the event of insolvency, users would be treated as unsecured creditors. Unsecured creditors are typically paid last, if at all.

Please be safe in these uncertain times. Do your own research on any projects you plan to invest in. Never give out your seed phrase.

Be Kind to One Another.