Nearly 3% of the Bored Ape collection has been put up as collateral on the NFT lending platform BendDAO, and many NFTs have recently entered the 'danger zone' of being liquidated.
Officials in Dubai say that the subsidiary's work will serve as a regulatory test run for future commercial services that use virtual assets.
Lloyd Blankfein, the former CEO of Goldman Sachs, has advised that businesses and consumers in the United States should prepare for a downturn. He emphasized that the risk is 'extremely high.'
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