Highlights of the week and Recent Developements

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Here are the top developments that happened around the market:

  • In the past 24 hours, we have seen a drop in the price of Bitcoin (BTC). At the time of writing, BTC is being traded for the price of almost $20.8k. The price has dropped by almost 2.5%.
  • Ethereum (ETH) is also following Bitcoin (BTC). During the writing, ETH is being traded at the price of almost $1.2k and we have seen a drop of almost 2%.
  • Voyager Digital Ltd’s sub-company, Voyager Digital LLC, has given a notification of default to major crypto mutual funds Three Arrows Capital (3AC) for its inability to make the expected installments on its recently revealed credit of BTC and USDC.
  • Crypto loaning stage BlockFi reported expansions in deposit rates across a number of cryptos and brought down withdrawal expenses on certain coins while finishing a strategy permitting one free withdrawal each month, both new strategies being compelling on July 1.
  • Crypto venture company Morgan Creek Digital is endeavoring to raise USD 250m from financial backers to buy a greater part stake in crypto bank BlockFi.
  • Banking goliath Goldman Sachs is hoping to raise USD 2bn from financial backers to purchase up resources from grieved crypto moneylender Celsius (CEL).
  • DeFi convention PancakeSwap declared the launch of their CAKE Prediction Market, where clients can anticipate assuming the cost of CAKE, the convention’s local token, will be, more or less.
  • Blockchain arrangements supplier Ripple (XRP) declared another office in Toronto, their latest in Canada that will act as a key designing center point. The organization plans to at first recruit 50 specialists in Toronto with the objective to extend too many blockchain computer programmers including applied AI researchers, information researchers, and item supervisors, they said.

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