Bitcoin balance on exchanges reaches 4-year low, Celsius files lawsuit against KeyFi and biggest bank Sinapore reports massive interest in crypto

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Celsius files counter lawsuit against KeyFi

In the complaint, Celsius Network asked for the return of alleged stolen property and for the payment of supposed damages caused by Stone and KeyFi. The latter parties previously filed a lawsuit against their former partner.

Celsius is facing bankruptcy, so this development is very relevant voor a lot of depositors of the cryptolender.

Source: Bitcoinist

DBS Bank reports surge in crypto purchases on DDEx Exchange

As investor interest in cryptocurrencies like Bitcoin and Ethereum grows, the volume of transactions on DDEx has increased dramatically. DBS said that 90% of all transactions on DDEx were buy orders in June due to the significant price drops in cryptocurrencies during that month.

DBS reported a fourfold rise in the proportion of Bitcoin bought on DDEx in June compared to April 2022, and a 65% increase in the quantity of ETH.

Source: TheNewsCrypto

Bitcoin balance on exchanges reaches 4-year low

Research agency Arcane mentions a cause. The collapse of large crypto lenders — Celsius, Babel Finance, and Vauld, owing to experiencing issues with liquidity earlier this summer has been a major driving force behind this and has kicked off large amounts of withdrawals.

In June, 119,000 BTC was moved off of exchanges, and following this, in July, 96,000 Bitcoin were withdrawn. Later, in August, so far 65,000 BTC have been pulled out.

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