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Experts from the CryptoCompare analytical service have released a daily Crypto Roundup report, in which they talked about the most important news in the world of cryptocurrencies over the past 24 hours. As of January 25, 2023, they were: information from BlockFi Financials about losses in the amount of $1.2 billion, attraction of financing for $125 million by Blockstream and admission of error by the leaders of the Binance exchange
Bankrupt lender BlockFi had more than $1.2 billion in assets linked to FTX and Alameda Research. This became known from the financial statements that were published. The impact on the company due to the collapse of the crypto trading platform turned out to be greater than expected. The balance sheet included $415.9 million in FTX-related assets and $831.3 million in loans from Alameda.
Crypto infrastructure firm Blockstream has raised $125 million in convertible bonds and secured debt financing to expand Bitcoin mining hosting services. The management decided to use the funds to expand capacity to meet the high demand.
Blockstream said in a statement that hosting has remained a resilient market segment compared to anchor miners (and their lenders), who are more exposed to bitcoin price volatility and tight margins.
Leading cryptocurrency exchange Binance has admitted that it mistakenly stored collateral for some of its B-tokens (tokenized versions of various cryptocurrencies on the BNB chain) in the same wallet as exchange user funds. According to a Bloomberg report, reserves of almost half of the 94 Binance-peg tokens issued by the exchange were held in a wallet tagged Binance 8. The collateral for these virtual assets is inseparable from the funds of platform users.
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