DeFi News Daily Official TheBitTimes.com

Blockchain analytics firm Match Systems has made contact with an individual who is believed to be selling tokens linked to the recent CoinEx and Stake hacks at discounted prices. Blockchain analytics investigators have uncovered an individual linked to a cryptocurrency laundering operation that is offering stolen tokens at discounted prices from recent high-profile exchange hacks. Speaking exclusively to Cointelegraph, a representative from blockchain security firm Match Systems outlined how investigations into several major breaches featuring similar methods through the summer months of 2023 have pointed to an individual who is allegedly selling stolen cryptocurrency tokens via peer-to-peer transfers. Related: CoinEx hack: Compromised private keys led to $70M theft The investigators managed to identify and make contact with an individual on Telegram offering stolen assets. The team confirmed that the user was in control of an address containing over $6 million worth of cryptocurre...

The cryptocurrency exchange's 2031 Senior Notes, which have a coupon rate of 3.625%, have $1 billion in outstanding principal. Cryptocurrency exchange Coinbase will begin buying back up to $150 million of its 2031 Senior Notes for 64.5 cents on the dollar, or a discount of 35.5%. According to the Aug. 7 announcement, the tender offer will last until Sept. 1, with an early premium of three cents on the dollar on top of the regular purchase price. The 2031 Senior Notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion. Last month, the exchange redeemed $65 million in convertible notes at a discount of 29%. Since the onset of the cryptocurrency bear market, Coinbase's debt securities have been trading at a discount to par value amid investor concerns about its ability to repay.  In its May 2022 filing with the U.S. Securities and Exchange Commission (SEC), Coinbase indicated that users' digital assets held on the platform may "be sub...

A major crypto arbitraging fund that exceeds $600 million in market cap has told Protos that it’s not trading on Binance nor taking the current arbitrage opportunity, instead adopting a “wait and see” approach before taking the risk. At press time, crypto prices on Binance US are trading at steep discounts. Bitcoin is trading at a near-$3,000 reduction; the exchange lists the token at $27,500 while most other exchanges list for $30,000. This allows crypto traders the opportunity to make an easy buck. However, the arbitrage opportunity may only be a sign of a lack of liquidity and/or a lack of exit gateways, given that US dollar deposits to Binance US have been halted. Lacking a new flow of US dollars, users on the exchange may have problems finding buyers for their assets and thus reduce their price significantly compared with other exchanges. Crypto asset prices on exchanges have often varied drastically when liquidity drops due to the closure of its gates. Last December, Bitc...