Good day, ApolloXplorer!Catch today’s key headlines and stay up to date with the latest!<h2 id="header-0">#1. Solend’s whale liquidation crisis sees second vote</h2>Lending protocol Solend has passed governance proposal SLND2 which invalidates the controversial &#34;emergency power&#34; proposal from Sunday.The Solend team originally planned to take over the whale’s account, but will now have to work on a new proposal.If SOL hits $22.30, the anonymous whale’s more than $100 million would be on the verge of a potentially chaotic on-chain liquidation.Source: <a href="https://www.coindesk.com/business/2022/06/20/defi-protocol-solend-passes-governance-vote-to-reverse-emergency-powers/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-1">#2. Babel Finance reaches debt agreement with counterparties</h2>Crypto lender Babel Finance has reached preliminary agreements with counterparties on the repayment of some debts.On Friday, Babel had imposed a $1,500 per month withdrawal limit, citing &#34;unusual liquidity pressures.&#34;&#34;We have actively communicated with shareholders and potential investors, and will continue to communicate and obtain liquidity support.”Source: <a href="https://www.coindesk.com/business/2022/06/20/babel-finance-reaches-debt-agreement-with-counterparties-after-withdrawal-freeze/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-2">#3. ProShares will launch the first Bitcoin short ETF</h2>ProShares will launch the first Bitcoin short ETF on June 21.The ETF will allow investors to hedge their crypto holdings or potentially profit from Bitcoin price drops. Bitcoin is currently trading 70% down from its all time high.Shorting is a trading strategy that involves selling an asset on the market with the expectation of buying it at a lower price in the future.Source: <a href="https://cryptobriefing.com/proshares-wants-you-short-bitcoin-through-new-etf/" rel="noopener noreferrer nofollow">Crypto Briefing</a><h2 id="header-3">#4. Bitcoin investors lost $7.3 billion in 3 days</h2>The Bitcoin selloff from Thursday to Saturday marked the largest realized loss ever for the crypto. Investors recorded $7.3 billion of locked-in losses.Short-term holders reached a Spent Output Profit Ratio equal to that of the 2018 bear market, meaning their profits are down overall.Some long-term holders experienced “deep capitulation” after buying at Bitcoin’s ATH of $69,000 and selling for $18,000, per Glassnode data.Source: <a href="https://decrypt.co/103369/bitcoin-investors-lose-record-7-3-billion-in-three-days" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-4">#5. Crypto exchanges hit by Cloudflare web outage</h2>Cloudflare, which provides key infrastructure for the internet, is experiencing “widespread issues” with its services and network.A number of crypto exchanges which rely on Cloudflare for distributed denial of service (DDOS) protection have been hit.FTX said in a tweet that its exchange and other sites “are going to be hard to access for many users,” adding that FTX markets are currently in “post-only” mode. Bitfinex and OKX also tweeted about the issue.Source: <a href="https://www.theblock.co/linked/153171/crypto-exchanges-hit-by-cloudflare-web-outage" rel="noopener noreferrer nofollow">The Block</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: Solend community votes to prevent takeover of whale account, Bitcoin investors lost $7.3 billion in 3 days

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