The worldwide cryptocurrency market capitalization is at $906.5 billion, up from $900.6 billion on Thursday morning.
Thursday’s drama surrounds cryptocurrency trading firm and liquidity provider8 Blocks Capital, and its issue with Three Arrows Capital (3AC).
Danny Yuan, who is CEO of 8 Blocks, took to Twitter Inc (NYSE:TWTR) on Wednesday evening to publicly accuse 3AC of essentially stealing $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 full 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 7.41% in the last 24 hours. The coin that once traded at $69,000 is now priced at $20,891.
Let’s take a peek at some of the other top cryptos.
Ethereum (CRYPTO: ETH)
The popular altcoin used mainly for the purchase of NFTs remains buoyant, floating around 52-week lows. The coin is trading at $1,109.31.
Solana (CRYPTO: SOL)
The “fast, secure, and scalable” coin is trading 3.94% higher in the last 24 hours, with prices hovering around $32.18 on Thursday.
BNB (CRYPTO: BNB)
Binance’s native coin is trading 1.92% lower to $216.22.
Dogecoin (CRYPTO: DOGE)
The ever-popular altcoin is trading 2.21% lower to $0.056.
