Good day, ApolloXplorer!Catch today’s key headlines and stay up to date with the latest!<h2 id="header-0">#1. Almost every crypto is down 90% from peak</h2>98.5% of all crypto are down more than 90% from their all-time highs, according to data from CoinGoLive.Of the 196 coins that have retraced less than 90% from their highs, 19 are stablecoins.The best-performing significantly capitalized coins are BNB, Bitcoin, FTX, TRON, and Ethereum, with respective drawdowns of 68.9%, 69.1%, 72.4%, 75.1%, and 77.14%.Source: <a href="https://cryptobriefing.com/almost-every-crypto-asset-is-down-over-90-from-peak/" rel="noopener noreferrer nofollow">Crypto Briefing</a><h2 id="header-1">#2. Three Arrows faces possible insolvency</h2>Crypto fund Three Arrows Capital is facing possible insolvency, according to a report by The Block.It incurred at least $400 million in liquidations and is reportedly in the process of repaying lenders and other counterparties.On-chain data suggests 3AC is selling its existing crypto positions to lower collateral requirements for certain positions. One of its wallets has a debt totaling $183 million.Source: <a href="https://www.coindesk.com/markets/2022/06/15/three-arrows-faces-possible-insolvency-after-unforeseen-liquidations/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-2">#3. OpenSea moves to Seaport Protocol</h2>OpenSea has moved to new smart contract “Seaport Protocol”.The NFT marketplace says this will allow its users to save roughly 35% on gas and do away with its one-time setup fee.OpenSea is also building a tool that will allow NFT holders to list multiple NFTs for sale at once and only pay one gas fee for the batch of listings.Source: <a href="https://decrypt.co/103034/opensea-moves-to-seaport-protocol-to-cut-ethereum-gas-fees-by-35" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-3">#4. South Korean government calls for voluntary regulations from crypto industry</h2>Korean officials and lawmakers are now considering the adoption of a new law for blockchain-based platforms.This is aimed at preventing negative consequences from crypto crashes like Terra’s and better protect investors.They also urged the crypto industry to come up with its own regulations that would include safety mechanisms.Source: <a href="https://news.bitcoin.com/south-korean-government-calls-for-voluntary-regulations-from-crypto-industry/" rel="noopener noreferrer nofollow">Bitcoin News</a><h2 id="header-4">#5. Tether denies exposure to Celsius and Three Arrows Capital</h2>Tether has denied rumors that 85% of its commercial paper portfolio is backed by bad Chinese real estate debt.The firm stated that 47% of its reserves are U.S. Treasuries and commercial paper amounted to less than 25%.It also denied exposure to Three Arrows Capital and Celsius, stating: “Celsius position has been liquidated with no losses to Tether.”Source: <a href="https://cryptobriefing.com/tether-calms-fears-over-reserve-backing-exposure-to-3ac-celsius/" rel="noopener noreferrer nofollow">Crypto Briefing</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a>

Crypto News of the Day: Almost every crypto is down 90% from ATH, OpenSea to reduce gas fees by 35%

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