FreeCryptoCurrency.Me

Quick Take

• Online cryptocurrency lending platform, Cred, abruptly filed for chapter 11 bankruptcy protection in Delaware on November 7th, 2020.
• Initially known as Libra Credit, the company raised $26.4M with the LBA Token ICO in May 2018, only for the token to lose over 96% of its value since then. 
• There is a lot of recent controversy surrounding Cred’s affiliated entity, Cred Capital, which led to the firing of a Cred Executive who allegedly misappropriated $2M in digital assets.  
• Two ongoing California civil lawsuits allege different interpretations of Cred Capital’s intended structure, ownership and purpose.
• As for Cred Inc.’s bankruptcy, the Block Research followed the trail of online ‘bread crumbs’ and court filings to help paint a picture, albeit an opaque one.
• Only time can provide clarity, as more details become public.

Quick Take

• Several bitcoin metrics are reaching new all-time highs alongside strong price performance.
• Especially the bitcoin options market has seen strong growth — close to 500% in terms of aggregated volumes.

Join us on December 3rd at 12pm ET / 9am PT for a digital event with Larry Cermak exploring the rise of stablecoins. This discussion will share a comprehensive overview of stablecoins and why they will be a major driver in adoption in the next year. 

This is an exclusive event for members of The Block Research. Register for the event here.

In this event, we will explore:

• The history of stablecoins
• The major catalysts behind the growth of stablecoins
• A look at underlying data of stablecoins
• An overview of different stablecoin solutions and their niches
• Outlook on the future of stablecoins

The round was led by DeFiance Capital with participation from ParaFi Capital, Huobi DeFiLabs, Hashed, Signum Capital and Lunex Ventures.

The post DeFi insurance protocol InsurAce raises $1 million backed by DeFiance, Huobi and Signum appeared first on The Block.