Altcoin News Official TheBitTimes.com

The non-fungible token lending market, once seen as the only sector that could have rescued the global non-fungible token market from the liquidity crisis and market stabilization, is in a critical state right now, with reports indicating that the sector is down over 95% from its peak season in 2024. In this article, we shall explore in depth what went wrong as well as what can be done to rescue this dying sector. NFT Lending Falls 97% From ATH Data compiled by DappRadar.com, an on-chain crypto market data aggregator and non-fungible token explorer, shows that the non-fungible token lending volume has plummeted by 97% since its all-time high in January 2024. It has fallen from nearly $1 billion to just over $50 million as of May 2025. During this period, the number of liquidity borrowers has fallen by 90% while the number of lenders has fallen by 78%. 📉 Volume momentum is gone From nearly $1B to just $50M in May 2025, loan volume has collapsed. Without incentives and w...

CoinFLEX creditors claim former CEO Mark Lamb and the OPNX exchange “misappropriated” their assets in a court filing. Some creditor s of cryptocurrency futures exchange CoinFLEX are alleging that OPNX, a new crypto exchange established in part by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent.  According to a writ of summons filed in the High Court of Hong Kong and seen by Cointelegraph, CoinFLEX creditor s claim that OPNX co-founder and former CEO Mark Lamb is “misappropriating and/or otherwise wrongfully using the assets, human resources, intellectual properties, […] trade secrets and other technologies” of CoinFLEX by diverting them into OPNX. It alleges that Lamb performed these actions contrary to his responsibilities to CoinFLEX creditor s during his tenure.  Citing the document, creditors say that Lamb devoted “time, attention, skill and/or effort” to setting up OPNX while simultaneously being employed as ...

FTX strongly criticized the UCC's pursuit of asset control, as it recommended that debtors allocate nearly $2.6 billion from cash reserves into short-term Treasuries. FTX debtors led by chief restructuring officer John J. Ray III have expressed disapproval of traders and market makers within the Official Committee of Unsecured Creditors (UCC) who are aiming to gain authority over assets. They believe the UCC’s plan to invest nearly $2.6 billion in cash reserves in short-term Treasuries is a bad idea amid FTX 2.0 draft restructuring plan. In a court filing dated August 9, FTX issued a response to the UCC's commentary regarding the reorganization and term sheet proposal. FTX strongly criticized the UCC's pursuit of asset control , particularly as it recommended that debtors allocate nearly $2.6 billion from cash reserves into short-term Treasuries, aiming to cover professional fees amounting to as much as $330 million. Screenshot of the debtors' response to the UCC.  S...

The crypto trading firm reportedly suffered a $20 million dollar exposure in the FTX collapse. Cryptocurrency trading firm Auros Global, which reportedly suffered a $20 million dollar exposure in the FTX collapse, has released a statement saying it plans to resume regular operations after implementing a restructuring plan.  Statement from Auros regarding recent references in the media – pic.twitter.com/9RFHhYjHqz — Auros (@Auros_global) December 20, 2022 Following the collapse of FTX, the cryptocurrency trading firm shared that it “found itself in a position where immediate liquidity was insufficient to satisfy recalls from lenders.” However, its top management remained confident that they would be able to weather the storm caused by the FTX contagion.  In the issued statement, Auros also revealed that it applied for a kind of restructuring program that allows the current management team to continue to trade in the capacity of “Authorized Managers" under the supervision of a...