Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Free Newsletter Sign Up

Crypto’s Liquidity Troubles Are Spreading Across Platforms (1)

June 24, 2022, 7:29 PM

A broad-based selloff in digital assets and the collapse of high-profile tokens TerraUSD and Luna have caused ripple effects across the crypto industry.

A wave of liquidations triggered fear of contagion risks. Major lenders Celsius Network and Babel Finance have frozen withdrawals, and Three Arrows Capital, a major crypto hedge fund, is facing liquidity troubles that rattled investors.

Total market value of cryptocurrencies, which topped $3 trillion in November, has dropped to $991 billion, according to data from CoinGecko.

Below are the latest developments from the crypto fallout.

DeFi Startup Kyber Discloses Treasury Exposure

The head of Kyber Network, a ...