Crypto exchange Huobi is facing insolvency rumors as a result of $64 million in outflows on Aug. 5 and 6, following news that the company’s top executives are being investigated by Chinese authorities. The trading platform’s TVL has fallen by 20% as a result, going from $3.09 billion to $2.5 billion as of this writing. […]
insolvency
Gate.io Clarifies Its Liquidity Status After Insolvency Rumours
Leading CEX Gate.io asserted that there are no issues with its operations or withdrawals in response to the widespread reports of illiquidity. “First, we want to emphasize that Gate.io is an established and well-operated exchange. We remain committed to providing users with secure, efficient, and reliable digital asset trading services.” In the blog post dated […]
Crypto Debit Card Issuer Wirecard Files for Insolvency
Troubled fintech crypto debit card issuer, Wirecard, has allegedly filed an open insolvency proceeding. According to the Wall Street Journal ‘s report of 25 June, the Munich-based crypto card firm applied to the Munich District Court to initiate the insolvency settlement process. The global Fintech firm cited its imminent insolvency and excessive debt as the […]