The wind-down of defunct crypto lender Celsius coughed up almost $300 million from Tether, according to a Tuesday statement from an entity set up by GXD Labs and VanEck, the Blockchain Recovery Investment Consortium. GXD Labs, a subsidiary of Atlas Grove Partners, and asset manager VanEck established BRIC to "maximize recoveries in complex digital asset bankruptcies like Celsius," they said. BRIC continues to manage a portfolio of illiquid and litigation assets tied to Celsius, the companies said. The joi ...

The rise of DeFi in 2020-2021 further supercharged lending. Both CeFi and DeFi platforms proliferated, competing aggressively for depositors. But as competition intensified, balance sheet quality deteriorated. Several major CeFi players operated with significant asset–liability mismatches, leaned heavily on their own governance tokens to bolster balance sheets, and relaxed underwriting standards, especially with regard to haircuts and LTVs (loan-to-value ratios).The first informal bitcoin lenders appeared a ...

A lending product unveiled by Coinbase that offers up to 10.8% returns on USDC deposits is receiving a temporary boost from DeFi lender Morpho. On X, Coinbase Head of Consumer and Business Products Max Branzburg said on Thursday that around 6% of the product’s returns stem from activity that takes place on Morpho’s platform, while an additional 5% is being “boosted” by the protocol itself. In a statement to Decrypt, a Coinbase spokesperson confirmed that Morpho is currently augmenting the lending product’s ...

Group 1 - Bitcoin dominance is currently at 57.79% and is expected to decrease further, despite experts predicting a rise in Bitcoin prices to new highs this year [1][6] - Following a recent Federal Open Markets Committee meeting, Bitcoin's price increased by 1% and reached a peak just below $118,000, marking its highest price in over a month [2][3] - Analysts forecast Bitcoin prices could reach between $140,000 and $145,000 by year-end, driven by rate cuts and a shift of funds into Bitcoin as a safe haven amid expectations of USD devaluation [3] Group 2 - Short-term trends indicate a rotation of traders into altcoins, particularly ahead of anticipated SEC approvals for various crypto ETFs, which may temporarily affect Bitcoin dominance [4] - Notable altcoins like XRP and BNB have seen significant price increases, with XRP rising 3% to $3.12 and BNB climbing about 5% to $996, setting a new all-time high above $1,000 [4] - Solana has experienced a substantial increase of almost 6% in the past day, reaching $248, and has risen 35% over the last month, largely due to corporate treasury purchases [5] Group 3 - Users on the Myriad prediction market are bearish on Bitcoin dominance, with 53% believing it will drop to 53% before potentially recovering to 63% [6] - The last time Bitcoin dominance was at 63% was in mid-July, coinciding with Bitcoin's previous all-time high above $112,000 [6]

The once high-flying crypto lender Voyager Digital Ltd., which filed for Chapter 11 bankruptcy in July 2022, has returned to headlines after its co-founder and former chief executive Stephen Ehrlich was ordered to pay $750,000 to former customers. On Sept. 15, the U.S. Commodity Futures Trading Commission (CFTC) announced the fine and barred Ehrlich from participating in commodity trading for three years, among other restrictions. What happened to Voyager? Voyager filed for Chapter 11 after the collapse ...

Company Overview - Gemini debuted on the Nasdaq with a valuation of approximately $4.4 billion, with shares opening at $37.01, a 32% increase from the IPO price of $28, initially giving the company a valuation of $3.32 billion [1][2] - The company raised $425 million through its IPO, which was significantly oversubscribed, with Wall Street giants Goldman Sachs and Cantor Fitzgerald serving as lead bookrunners [2] IPO Details - Gemini initially targeted a share price range of $17 to $19 across 16.6 million shares, reserving 10% of the offering for a "directed share program" for select parties [3] - The IPO marks Gemini as the 10th major crypto firm to enter public markets in the U.S. this year, following a trend that gained momentum after Circle's IPO in June [6] Founders' Background - Co-founders Cameron and Tyler Winklevoss were inspired by Bitcoin in 2012 and established Gemini to help mainstream cryptocurrency [4]

Figure Technologies shares closed above its initial offering price on Thursday, the latest indication of investors’ interest in crypto-native firms on Wall Street. The firm’s stock price rose to $31.11, a 24% gain compared to its boosted IPO price of $25, according to Yahoo Finance. That gave it a valuation of $6.58 billion. Figure shares initially changed hands at $36 apiece.  Figure CEO Michael Tannenbaum told Decrypt that the company is showing Wall Street how blockchains can be used to create more effic ...

Company Highlights - Figure, a crypto lender, has priced its IPO at $25 per share, offering 31.5 million shares, with indications currently around $35.50, valuing the company at over $5 billion [1][2] - Gemini, a crypto exchange founded by the Winklevoss twins, is set to debut with a targeted valuation of $3 billion, having increased its proposed price range to $24-$26 per share from a previous range of $17-$19 [3][4] - NASDAQ has made a $50 million strategic investment in Gemini, indicating institutional confidence in the company and its custodial services [5] Industry Trends - The appetite for crypto IPOs remains strong despite recent consolidation in major cryptocurrencies like Bitcoin and Ether [4] - Analysts are observing a shift in interest towards Solana, which has been outperforming other cryptocurrencies in recent weeks, as the market anticipates a potential rally in Q4 [6][8] - Bitcoin has maintained a stable trading range above $100,000, with some analysts suggesting it is viewed as "digital gold" [7][8]

Kinto, a blockchain project operating on Arbitrum, has announced that it will cease operations at the end of September, following a catastrophic $1.6 million hack in July that rendered the platform insolvent. The decision essentially represents a bankruptcy for the start-up, which had touted itself as a safer version of traditional DeFi because it verified users and insured wallets. The crash is the result of a smart contract loophole on Kinto's chain, which was exploited by attackers to mint 110,000 fak ...

Overview - Maple Finance is emerging as a promising player in crypto lending, addressing the need for institutional capital access to both over and under-collateralized loans onchain [1] - The protocol's momentum is not strongly correlated with the wider market, making it a valuable protocol to monitor [2] Risk Management & Clarity - Maple Finance effectively segments risk by differentiating between blue chip and high yield loans [2] - This clarity appeals to both retail investors and institutions borrowing large sums, enhancing user-friendliness in onchain finance [2] Growth & AUM - Maple's Assets Under Management (AUM) has surpassed $3 billion and exhibits hockey-stick growth [3] - AUM has increased by 440% since early 2025 [3]