26 September

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4:16 AM UTC
26 September

|

4:16 AM

Crypto News – September 20th

Alameda to repay $200 million to bankrupt lender Voyager

Crypto billionaire Sam Bankman-Fried’s Alameda Research will repay a $200 million loan to Voyager Digital – a crypto lending and trading powerhouse that has filed for bankruptcy since June.

According to a court filing on September 19th, Alameda Research will pay back 6,553 in Bitcoin (roughly USD 128 million) and 51,204 in Ether (roughly USD 70 million) toward principal and loan fees, as well as smaller amounts in other tokens.

Voyager Digital will then return to Alameda the tokens the company pledged as security for the loans including 4.65 million FTT (roughly USD 112 million) and 63.75 million SRM tokens (roughly USD 49 million).

India’s largest crypto exchange to delist USDC

WazirX, India’s largest cryptocurrency exchange by trade volume, has announced it would delist three stablecoins, including USDC, USDP and TUSD.

The exchange will automatically convert those stablecoins in customer balances to Binance’s BUSD stablecoin, which can be viewed as a sign of dominance of this stablecoin issued by the world’s largest blockchain – Binance.

Other BUSD trading pairs also experienced strong increases such as: PUNDIX/BUSD (30%), CKB/BUSD (10%), etc.

Bloomberg predicts a sharp drop in BTC price after the FOMC.

Mike McGlone – Bloomberg Intelligence analyst – predicts that there will be a sharp decline in the crypto market in the next Fed interest rate meeting on September 21th. Currently, BTC is trading at $19,300-19400 while ETH is at $1350-1370.

The Fed is now expected to hike interest rates by 75 basis points. However, some investors are afraid that this number could reach 100 basis points and that will deal a big blow to the crypto market.

Mike McGlone also thinks that the Fed’s interest rate hikes will lead to a dive in the the market in September:

“We have to look at the macro picture and see what is pressuring the crypto market this year. It is the FED interest rates.”

Related news

Crypto News – September 22th

The Federal Open Market Committee (FOMC) raised rates by 0.75 percentage points for the third consecutive time this year, showing how serious inflation has become in the U.S.

Crypto Market News – Sep 13th

The GameFi sector remains a leading force in the blockchain and cryptocurrency space despite the ongoing downturn in the crypto market since the end of 2021. Statistics from DappRadar revealed that GameFi and Metaverse projects raised USD 748 million in funds last month, 135% more than in July.

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