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Tag: $170 million

FirstMark Horizon (FMAC) Shareholders Approve Starry Deal

FirstMark Horizon Acquisition Corp. (NYSE:FMAC) announced this afternoon that its shareholders have voted to approve its combination with internet service provider (ISP) Starry in a special meeting held on March 16. ...READ MORE

Marlena Haddad

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FirstMark Horizon (FMAC) Arranges Non-Redemption Agreement for Starry Deal

FirstMark Horizon Acquisition Corp. (NYSE:FMAC) announced this afternoon that it entered into a Non-Redemption Agreement alongside certain accredited investors and Starry Group Holdings.

According to the Non-Redemption Agreement, certain investors of FirstMark agreed not to redeem their shares, representing 2,398,613 shares in the aggregate, at the Starry completion vote scheduled for Wednesday, March 16. ...READ MORE

Marlena Haddad

Detroit Mayor Mike Duggan Credits iGaming for Keeping City Budget Afloat

Detroit Mayor Mike Duggan (D) says the city’s financial outlook would be much different without legal internet gaming and mobile sports betting. But with the expanded gaming options, the city’s budget is forecast to be whole, despite substantial losses caused over the past two years by the COVID-19 pandemic. Appearing before the Detroit City Council […]

The post Detroit Mayor Mike Duggan Credits iGaming for Keeping City Budget Afloat appeared first on Casino.org.

Air Taxi Company Raises $170 Million

Company officials say the money raised will help with the certification of Volocopter’s electric passenger air taxi

Resorts World Las Vegas Slow to Find Momentum

Resorts World Las Vegas is taking longer-than-expected to ramp-up, potentially weighing on operator Genting Berhad’s hopes to leverage the asset to wring more profits out of the US. The $4.3 billion Resorts World Las Vegas, which is the Strip’s most expensive integrated resort in terms of construction costs, opened last June. In the fourth quarter, […]

The post Resorts World Las Vegas Slow to Find Momentum appeared first on Casino.org.

$170 Million In Futures Liquidate As Bitcoin Recovers Above $38k

Data shows more than $170 million in Bitcoin futures has liquidated over the past 24 hours as the price of the crypto makes sharp recovery above $38k. BTC Price Makes Sharp Recovery From Crash Due To Russia’s Invasion Of Ukraine Following the commencement of the Russian invasion of Ukraine yesterday, the price of Bitcoin took a deep plunge down as investors pulled out of the market. During this crash, the coin’s value went as low as $34.4k. However, today the value of the crypto already seems to have made some sharp recovery as the price hit $39k earlier in the day. At the time of writing, Bitcoin’s price floats around $38.8k, down 4% in the last seven days. Over the past month, the crypto has gained 7% in value. The below chart shows the trend in the price of BTC over the last five days. BTC's price has made some sharp recovery today | Source: BTCUSD on TradingView Bitcoin Futures Liquidations Over The Past Day Reach More Than $170 million Due to this sharp price rise, there have been some mass liquidations in the futures market. In case someone isn’t familiar with what a “liquidation” is, it’s best to get a quick overview of margin trading first. As you may know, when investors purchase a buy or sell futures contract on a derivatives exchange, they have to put forth some initial investment, called the “margin.” Against this margin, users can loan Bitcoin amounts many times their actual position. This is called making use of “leverage.” Any profit that investors earn on this leverage is theirs to keep. Related Reading | Bitcoin Investors Haven’t Responded To Russia-Ukraine War With Large Inflows (Yet) However, if the price of the coin moves opposite to the direction they bet on, then their losses are also as many times more in magnitude as the leverage. After the user loses a large percentage of their margin because of these losses, the exchange forcibly closes the position. This is precisely what a “liquidation” is. Now, here is the latest data regarding the Bitcoin futures liquidations: Looks like the futures market has observed some mass liquidations over the past day | Source: CoinGlass As you can see above, more than $170 million in Bitcoin futures contracts have been liquidated over the past 24 hours. Related Reading | Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin Since these liquidations took place because of a sharp price move up, the majority of these are from short contracts. While this is a sharp and unexpected recovery for the crypto, it’s unclear how long it will last. The macro fears and uncertainties due to the Russia-Ukraine war are still abound at large as the invasion still rages on. Featured image from Unsplash.com, chart from TradingView.com

What is VVS Finance, the largest project on Crypto.com’s Cronos chain?

Most people know Crypto dot com as an exchange and wallet app competing with the likes of Kraken and Coinbase with a series of high-profile advertising campaigns.

The post What is VVS Finance, the largest project on Crypto.com’s Cronos chain? appeared first on CryptoSlate.

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Crypto Thefts Remain Key Revenue Source For North Korea

Crypto thefts remain a key revenue source for North Korea this year as well as the last one so let’s read more about it in today’s latest cryptocurrency news. Cyber attacks on the crypto exchange have been a huge source of funds for North Korea as per the United Nations report so according to the […]

Web3-centric NFT Platform Pixel Vault Obtains $100M Investment

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Pixel Vault, a web3-centric NFT platform, today announced a $100 million investment from venture capital firms Velvet Sea Ventures and 01A. (Read More)

Aer Lingus Sees A Large Bump In Traffic From COVID-19 Rule Change

Aer Lingus’ website received the most traffic since the COVID pandemic began after the Irish government changed its…

Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined

The last 48 hours have seen unprecedented happening in the world of cryptocurrencies. According to Larry Cermak, VP of Research at Theblockresearch.com, the interest in futures exchanges has tanked dangerously by 20% in the last two days – from $18 billion to about $14.4 billion. The two exchanges which have seen the most severe carnage

The post Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined appeared first on CoinGape.

PlayUp gets $35M Investment from FTX to Spur Growth in US Gaming Market

The company that backed away from purchasing PlayUp outright has instead decided to invest in the Australian-based gaming company that has a presence in the United States. PlayUp announced Thursday that crypto-exchange FTX agreed to invest $35 million into the company during the fourth quarter of last year. Ramnik Arora, head of product for FTX, […]

The post PlayUp gets $35M Investment from FTX to Spur Growth in US Gaming Market appeared first on Casino.org.

Crypto News Roundup: Twitter NFT Profile Pics, Walk Your Dog In The Metaverse, NYC Mayor Gets Paid In Bitcoin

This week in crypto news: Tom Brady’s celebrity NFT banks $170M, hackers stole more than $30 million in Bitcoin and Ethereum, and more.

The post Crypto News Roundup: Twitter NFT Profile Pics, Walk Your Dog In The Metaverse, NYC Mayor Gets Paid In Bitcoin appeared first on BitcoinChaser.

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