Fold Holdings obtained a $150 million revolving credit facility from Encina Lender Finance to scale its Bitcoin rewards credit card, which offers up to 4% back in Bitcoin. This debt financing avoids equity dilution and is backed by consumer credit card receivables, reflecting confidence in Fold's revenue growth. The card, issued by Celtic Bank on the Visa network, integrates Stripe for payments and is rolling out to waitlist users. While the rewards in Bitcoin add appeal, the volatility of Bitcoin poses risks to user engagement and growth.
Two wallets reportedly exploited price swings on Hyperliquid by placing around $20 million in orders, shifting Ether prices slightly. They simultaneously opened large long positions on Papertrade, which uses Hyperliquid prices for settlement. This st...
Bitcoin balances on major exchanges remained stable over one day, with no net inflow recorded. However, weekly and monthly data show significant net outflows, indicating ongoing withdrawals from exchanges. Trading volume was highest during Asian hour...
Ampleforth (AMPL) experienced a sharp decline of 13.91% within 60 minutes on October 11, falling to $1.30, reflecting ongoing volatility in the altcoin market. Over the previous 24 hours, AMPL traded between $1.30 and $1.50, with a market cap of abou...
Two wallets reportedly exploited a known best-bid-and-offer (BBO) risk on the papertrade protocol, triggering about $20 million in Ether (ETH) trades that moved prices by 10 to 20 basis points on the Hyperliquid platform. A community user, boblob, ac...
Starknet (STRK) led the top 90 cryptocurrencies by market cap, rising 45.02% in 24 hours to $0.107, extending its previous day's 42.04% gain. Among other notable movers, Aerodrome Finance gained 14.46%, Injective rose 6.54%, and Figure Heloc advanced...
