Crypto Biz: Crypto broker goes bankrupt, Bitcoin miner capitulates and China VC funding soars
— Capital, Sequoia, Miner, Soars, Crypto, Digital, Funding, Bitcoin, Capitulates, Broker — 1 min read
Celsius appears to be inching closer to repaying its outstanding debt to Maker protocol after posting $142.8 million worth of stablecoins over a four-day period. Voyager Digital filed for Chapter 11 bankruptcy this week, putting hundreds of thousands of creditors on high alert. We also look at the latest high-profile miner to force-sell their Bitcoin and chronicle new capital raises for one of China’s most prominent venture firms, Sequoia Capital China, is reportedly raising $9 billion for four startup funds. Core Scientific sold $167M worth of Bitcoin holdings in June to pay for ongoing business expenses. The good news is miner selling is often seen as a reliable indicator of the bottom as the Federal Reserve plots several more aggressive interest rate hikes this year. Source