Digital Currency Group (DCG) CEO Barry Silbert recently shared a letter with investors illuminating the cryptocurrency conglomerate’s web of external and intercompany loans. Among them is a newly disclosed liability of $575 million to its lending subsidiary Genesis, due by May of 2023. What’s Going On With DCG? As reported by the Wall Street Journal...Read More
Alexey Pertsev – developer of the cryptocurrency mixer Tornado Cash – will reportedly remain in jail until late February 2023. The Dutch Crime Agency (FIOD) arrested the man in August this year after the US Treasury Department previously sanctioned Tornado Cash for enabling money-laundering procedures. According to a recent CoinDesk coverage, Pertsev will stay in...Read More
Coinbase CEO Brian Armstrong quelled concerns about the state of his company’s Bitcoin holdings on Tuesday, following doubtful suggestions from rival exchange owner Changpeng Zhao (CZ). Binance’s CEO has since deleted his tweet, promising to “work together to improve transparency in the industry.” What Did CZ Say? CZ’s now-removed post called attention to two separate...Read More
FTX, its former chief Sam Bankman-Fried’s parents, as well as senior executives of the fallen crypto exchange, purchased at least 19 properties worth almost $121 million in the Bahamas, according to new reports. Official property records verified by Reuters reveal that FTX bought luxury beachfront homes, including seven condominiums in a penthouse in a luxury...Read More
Snapshot As At 22 Nov 2022 Reserves Liabilities Snapshot time 22 Nov 2022 22 Nov 2022 Snapshot block height 764,297 n/a Balance 70,378.0 Bitcoin 70,357.6 Bitcoin Files The automatically generated Proof of Reserve and Proof of Liability data files can be found using the link below: View all the files here Related The post...Read More
The American senators – Elizabeth Warren, Tina Smith, and Richard Durbin – advised Fidelity Investments to reconsider its decision to allow investors to add bitcoin to their retirement 401(k) plans. One of the largest mutual fund companies in the US has heavily engaged in the crypto sector in the past few years. It recently considered...Read More
The first twelve days of November were perhaps the darkest for 30-year-old Sam Bankman-Fried (SBF), as he not only lost his crypto empire but went from being a Bitcoin billionaire and crypto’s white knight to filing for bankruptcy and owing customers at least $3 billion. The next eight days revealed that SBF’s once-powerful crypto exchange...Read More
Cryptocurrency entrepreneur and billionaire Justin Sun is reportedly evaluating FTX’s assets for potential purchase. As reported by the Wall Street Journal, Sun said on Tuesday that he is open to “any kind of deal,” with the exchange, and that “all options” are on the table. “Right now we are evaluating assets one by one, but...Read More
The world’s largest crypto, Bitcoin, has yet again been surrounded by massive selling pressure as the price marked new lows below $15,500. The FTX collapse has impacted the entire crypto space as the crypto lenders have been facing difficulties in meeting demand post-fallout from FTX. While BlockFi has filed for bankruptcy, another crypto pioneer, Genesis,...Read More
[PRESS RELEASE – Oeiras, Portugal, 22nd November 2022] Masterblox, a Lisbon-based crypto marketing company, has pledged to bring greater gender parity to the world of web3. Masterblox CEO Isabella Händel is on a mission to highlight the shortage of women working in the industry in a bid to foster greater inclusivity. It is estimated that...Read More
Lack of education is one of the major hurdles preventing cryptocurrencies from reaching mainstream adoption. Sadly, lack of knowledge is a breeding ground for misinformation, and this has birthed many misconceptions about digital assets that have scared mainstream users from embracing the decentralized economy. Things are even worse with the crypto market in a bear...Read More
Crypto exchange Gemini revealed working closely with Genesis Trading and its parent company Digital Currency Group, Inc, to find a solution for Earn users to redeem their funds. In a series of tweets, the Winklevoss-led platform noted that it is working to provide a material informational update soon. “This remains our highest priority and we...Read More
Bankrupt crypto exchange FTX and its affiliates had a total cash balance of $1.24 billion as of November 20, as per its bankruptcy filing. Sam Bankman-Fried’s crypto empire collapsed into chaotic bankruptcy earlier this month, leaving over a million creditors and stirring up trouble in the industry. New details have emerged regarding the group’s cash...Read More
Now that the dust has begun to settle following the unexpected collapse of FTX, government officials have started to plan hearings on the subject. Given the size of the now-bankrupt exchange, the hearings will probably result in new regulations that will change the crypto industry from here on out. Calls for Consumer Protection Authorities in...Read More
Ripple Inc. and XRPL’s native token, XRP is on the watchlist of many crypto investors globally. The seventh most valuable digital asset by market capitalization traded around $0.358, down 5.3 percent on Monday. With 50,298,735,565 in circulating supply out of the possible 100 billion, the persistent question remains of why Ripple pre-mined all the remaining...Read More
[PRESS RELEASE – Cranfield, England, 21st November 2022] WAHED is delighted to announce a brand new partnership with Creator’s Group. Bringing years of experience in the real estate and property management sector, the Creators Group can look forward to enjoying a number of advantages that the blockchain can add to this industry. Established by CEO...Read More
Despite the ultimate crash of FTX, the Japanese subsidiary of the company reportedly plans to allow client withdrawals by the year’s end. The fiasco of Sam Bankman-Fried’s exchange became one of the major events in crypto’s history. Once valued at approximately $32 billion, it recently failed to honor users’ withdrawal requests and reported severe liquidity...Read More
Genesis, the crypto brokerage platform that froze withdrawals last week, may resort to bankruptcy if it fails to raise money from potential investors, according to people familiar with the matter. As reported by BNN Bloomberg, Genesis has spent the past several days attempting to raise $1 billion in capital from potential investors. This backs up...Read More
