Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice. In an email to shareholders, as viewed by Bloomberg, the crypto investment firm said it is currently focused on “reducing operating expenses and preserving liquidity” in response to the current market environment. Troubles for DCG The FTX collapse exposed significant...Read More
Genesis Global Capital is preparing to finally file for bankruptcy after FTX’s collapse blew a hole through the company’s financials, according to people familiar with the matter. The bankruptcy may be filed as soon as this week. Per a report from Bloomberg on Wednesday, talks over the bankruptcy are still ongoing, and plans could change. ...Read More
FTX’s former CEO, Sam Bankman-Fried, has reiterated claims that FTX US is solvent following FTX debtors’ latest statements to the contrary. According to Bankman-Fried, the group failed to account for customers’ bank balances, which bring the US entity’s assets well above its liabilities to customers. Clearing the Air on FTX US In a substack post...Read More
Bitcoin’s rise within the past two weeks has made it one of the best-performing assets of the year, according to Bloomberg Intelligence. The firm’s senior macro strategist, Mike McGlone, compares the rally to a similar recovery in early 2019 – but in a macro environment of contracting liquidity. Is Bitcoin Back? In a post to...Read More
On Wednesday, the United States Department of Justice announced an international cryptocurrency enforcement action. The Department arrested the founder of BitZlato – a Chinese crypto exchange involved in servicing financial criminals The DOJ broke the news on Wednesday, alongside representatives from the FBI, OFAC, and the Financial Crimes Enforcement Network (FinCEN). OFAC administers the US...Read More
The fall of Sam Bankman-Fried’s $32 billion crypto empire highlighted the importance of self-custody for users. In fact, investors have already hopped on the trend of holding their assets themselves rather than entrusting their hard-earned money to a third-party platform. According to the latest data compiled by crypto analytic company, Santiment, Bitcoin’s supply on centralized...Read More
Bitcoin price has experienced a strong resistance of around $21k after rallying over 28 percent in the past 14 days. Over $26.60 million has been liquidated in the Bitcoin market during the past 24 hours and more coins observed leaving centralized exchanges. Market analysts believe the Bitcoin market is preparing to enter a correction phase...Read More
[PRESS RELEASE – Please Read Disclaimer] The studio to prioritize a play-to-earn model to draw in players. A brand new studio comprised of both gaming and crypto veterans is announcing the upcoming release of their new project Portal Fantasy. The game is a browser-based pixel RPG set on the Avalanche chain. The developers are keen...Read More
Crypto exchange giant Coinbase becomes the latest firm to stop operations in Japan, citing unfavorable market conditions. The US-based company has conducted a series of job cuts in the last seven months, with the latest downsizing happening earlier in January 2023. In a blog post on Wednesday (January 18, 2023), Coinbase announced that users in...Read More
The world’s largest cryptocurrency exchange – Binance – announced its services in Poland are now fully compliant with domestic regulatory standards for virtual asset service providers (VASPs). Polish users are required to sign new Terms and Conditions with Binance Poland to continue using the company’s products. In a recent blog post, Binance said the update comes...Read More
As the bankruptcy and restructuring saga of FTX and its affiliated entities continues to unfold, more and more instances of assets being transferred off of the exchange come to light. Inching Closer to Half a Billion The US DOJ has already begun investigating the $400 million hack that drained assets from FTX’s ownership. Whether the...Read More
[PRESS RELEASE – Please Read Disclaimer] Gaining trust from the community is essential within any blockchain-based project. With so many developers abandoning projects, there became a need for developers to prove their loyalty.One of the key ways through which this is a possibility is through the procedure of locking coins or tokens. The Orbeon Procol...Read More
The EU’s landmark Markets in Crypto Assets (MiCA) crypto regulations will not see a final vote until April. The delay is also likely to stall the process of pushing the new rules through. According to European Parliament representatives, the delay has been caused by problems translating the almost 400-page file into the 24 official languages...Read More
Crypto funding has been in the industry for two years and since then more and more firms are getting involved. The latest one happens to be the news that says FTX founder Sam Bankman-Fried lending money to the US Congress members. As per the reports, more than one in three of 535 the US Congress...Read More
While the BTC price cratered over Alameda-FTX and Genesis-Gemini news, it decoupled from the S&P 500 Index and NASDAQ Composite. But after crypto exchange markets priced in the news, they were ready to rally with equities. Because of the Bitcoin stocks correlation, the price on crypto exchange markets moves in tandem with tech stocks like...Read More
The Singaporean authorities have reportedly granted Vauld an extended period of creditor protection. The cryptocurrency lender has until February 28 to introduce a revival plan. Vauld is one of the worst affected cryptocurrency entities by the prolonged bear market. It trimmed the size of its team by 30% last summer, reduced its marketing campaigns, and...Read More
