The worldwide cryptocurrency market capitalization is at $900.6 billion Thursday, down from $926.6 billion on Wednesday afternoon.
Thursday’s drama surrounds cryptocurrency trading firm and liquidity provider 8 Blocks Capital and its issue with Three Arrows Capital (3AC).
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Danny Yuan, CEO of 8 Blocks, took to Twitter Inc (NYSE:TWTR) on Wednesday evening to publicly allege that 3AC essentially stole $1 million of 8 Block funds to curb its own insolvency.
“Fast forward to 24 hours ago, our funds monitoring script noticed that ~1m was missing from our accounts with them. We reached out to @KyleLDavies, the Ops team on Telegram about the missing funds- no replies. We tried calling them- they were online and they didn't pick up.”
You can read the entire thread here.
1) What happened between 3AC and us and what we know so far:@zhusu @KyleLDavies
— Danny (@Danny8BC) June 16, 2022
Bitcoin (CRYPTO: BTC), the most popular cryptocurrency, is down 1.4% in the last 24 hours after dropping more than 3% Wednesday. The once $69,000 coin is priced at $21,011.73.
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Let’s take a peek at some of the other top cryptos.
Ethereum (CRYPTO: ETH)
The popular altcoin used mainly for purchasing NFTs remains buoyant, floating around 52-week lows. The coin is trading at $1,106.31.
Solana (CRYPTO: SOL)
The “fast, secure, and scalable” coin is trading 6.22% higher in the last 24 hours, with prices hovering around $30.89 on Thursday.
BNB (CRYPTO: BNB)
Binance’s native coin is trading 0.49% higher to $214.10.
Dogecoin (CRYPTO: DOGE)
The ever-popular altcoin is trading 3.41% lower to $0.056.