Three Arrows Capital defaulted on a $670 million loanĬrypto hedge fund Three Arrows Capital (3AC) received a notice of default from cryptocurrency broker Voyager Digital on Monday for failing to make the required payments on a loan worth more than $665 million. There has been a lot of speculation on whether MicroStrategy may begin to face margin calls during bitcoin's most recent leg down to the $18,000–21,000 range, but Saylor has denied the rumours and vowed to buy more coins as cash flow permits. Even as Crypto Winter sets in, the company's CEO Michael Saylor appears to be convinced that Bitcoin will go up in value in the long term. MicroStrategy began its Bitcoin-buying spree back in 2020 when it initially spent $250 million on the asset. As of June 28, the company has spent over $3.98 billion to hold about 129,699 Bitcoin, according to reports. MicroStrategy Buys $10 Million BitcoinĪt the height of the cryptocurrency market collapse, Michael Saylor's Bitcoin-backed IT company MicroStrategy purchased an additional 480 coins for nearly $10 million.īetween May 3 and June 28, 2022, MicroStrategy bought Bitcoin for an average price of around $20,817, expenses included. The objective of TIME is to create a virtual setting that would serve as the "heart of the metaverse." The digital Manhattan will serve as an inclusive platform for TIMEPieces holders to enjoy unique experiences such as attending meetings and events hosted by TIME Studios for educational and recreational purposes. In September 2021, the company ventured TIMEpieces, an NFT community initiative featuring the original artwork of more than 40 influential artists.
It will be made on TIME’s virtual land in The Sandbox as a hub for gathering, art, and commerce, inspired by the aesthetic energy of New York’s Times Square. Time magazine and gaming company Sandbox have joined forces to create “Time Square” in the metaverse, which is modelled after the Times Square neighbourhood in New York. Time and Sandbox to build a Virtual Times Square The NFT community has built a comprehensive infrastructure and partnered with GameFi and NFTFi projects deploying on the TRON blockchain.Īfter four years of steady growth, TRON also shared that the team is growing and providing a rare opportunity to work directly with a Layer 1 Blockchain and have an impact on every aspect of the sector. Since 2021, TRON has substantially grown its presence in the NFT industry as well.
TRON user accounts have officially surpassed the 100 million mark on the same day as TRON mainnet celebrated its 4th anniversary since network independence. Launched in May 2018, the mainnet of TRON is one of the three major public chains globally.
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