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Due to the liquidation of the Kujira Foundation's operating wallet, the KUJI token has dropped 40%. According to a report by The Block, the price of the Kujira token fell by 40% today, from $0.97 to $0.57, due to the liquidation of the Kujira Foundation's operating wallet. The foundation had taken on leveraged liquidity provider positions worth millions of dollars, but failed to properly manage them on its own DeFi platform. The team claimed in a statement that the liquidation occurred because the team's loans, obtained using their own Kujira (KUJI) token reserves, were undercollateralized in the volatile environment, triggering an automatic liquidation and a cascading sell-off that led to a drop in the collateral asset prices. Data from Pulsar Finance shows that the team's wallet still has $2 million in debt. $BTC $ETH $BNB
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Kujira Foundation's operating wallet has been liquidated, and the token has dropped 40%. On August 1st, due to the liquidation of the Kujira Foundation's operational wallet, the price of the Kujira token fell by 40% today, from $0.97 to $BTC The foundation had taken on leveraged liquidity provider positions worth millions of dollars, but failed to properly manage them on its own DeFi platform. The team claimed in a statement that the use of leveraged positions with operational funds was aimed at improving liquidity and stimulating activity on its DEX. The liquidation occurred because the team's loans, collateralized by their own Kujira (KUJI) token reserves, were undercollateralized in the volatile environment. This triggered an automatic liquidation, sparking a chain reaction of sell-offs and leading to a drop in the price of the collateral assets. Data from Pulsar Finance shows the team's wallet still has $2 million in debt. $BTC $ETH $bnb
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The ApeCoin DAO proposal to open an Ape-themed hotel in downtown Bangkok, Thailand has been voted and approved. Foresight News reports that, according to Snapshot information, the ApeCoin DAO has initiated proposal AIP-448 to open an Ape-themed hotel in a prime location in the center of Bangkok, Thailand, which has been approved by a vote with 78.3% in favor. After the themed rooms are completed, the ApeCoin DAO will receive 50% of the room revenue within one year, and the DAO will also receive revenue from all themed rooms (including APE, BAYC, Otherside, Apechain, Mocaverse), with the funds being returned to the DAO treasury on a quarterly basis. The hotel will be responsible for the local compliance and settlement of the funds. $BTC $ETH $BNB
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The number of initial jobless claims in the United States for the week ending July 27 was 249,000, compared to the expected 236,000 and the previous value of 235,000. According to the ChainCatcher news report, the number of initial jobless claims in the United States for the week ending July 27 was 249,000, exceeding the expected 236,000 and the previous 235,000. The number of continuing jobless claims in the United States for the week ending July 20 was 1,877,000, higher than the expected 1,856,000 and the revised previous 1,844,000. The number of initial jobless claims in the United States for the week ending July 27 was recorded at 249,000, the highest since the week of August 5, 2023. $BTC $ETH $BNB
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Tennessee Senator supports Trump's efforts to make the United States a cryptocurrency hub. ChainCatcher news, Tennessee Senator Bill Hagerty announced his support for presidential candidate Donald Trump this week, pushing for the United States to become a cryptocurrency hub. Hagerty compared the cryptocurrency industry to the semiconductor industry, believing that the outflow of the latter has weakened the United States' geopolitical position, and accused the Biden administration of "doing its utmost to attack this industry" and failing to provide a regulatory framework for it. Trump and the Republican Party are actively courting the cryptocurrency vote, accepting cryptocurrency donations, and repositioning themselves as cryptocurrency-friendly candidates. $BTC $ETH $BNB
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