Day: November 16, 2022

Grayscale Declares ‘Business as Usual’ Despite Sister Company Genesis Global Capital Suspending Withdrawals

Genesis Global Capital, the lending arm of crypto investment bank Genesis Global Trading, announced the suspension on Wednesday in response to “extreme market dislocation and loss of industry confidence caused by the FTX implosion,” according to Amanda Cowie, vice president of communications and marketing at Digital Currency Group (DCG), the parent company of Grayscale, Genesis and also CoinDesk. Source

BINANCE just DESTROYED FTX! CRYPTO HOLDERS: I'M SCARED!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The MOST INSANE day in crypto just happened. FTX (as we know it) is no more. Seems like this was part of CZ Binance’s master plan all along. In this video I breakdown & explain everything. Vote Altcoin Daily for Best News Source & Influencer of the Year: Join us in Miami for Dcentral: Hit Like, Share, and Subscribe for more daily cryptocurrency news Altcoin Daily, the best cryptocurrency news media online! Follow us on Twitter: Timestamps: 0:00 – Most crazy day…

Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations – Bitcoin News

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Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational. DCG-Owned Genesis Halts Lending Unit’s Redemptions and New Loans On Nov. 16, 2022, Coindesk reporter Nelson Wang detailed that Genesis Global Trading’s current CEO Derar Islim has explained that the company’s lending unit has paused withdrawals. The Digital Currency Group (DCG)-owned firm Genesis Global Trading’s CEO further detailed that the decision…

Top House Committee to Hold Hearing Into FTX Collapse

Rep. Maxine Waters (D-Calif.) and Rep. Patrick McHenry (R-N.C.), respectively the chair and ranking member of the committee, said in a joint statement that the lawmakers would want to hear about the collapse of the crypto exchange and its “broader consequences” for the cryptocurrency ecosystem. The committee plans to hear testimony from now-former FTX CEO Sam Bankman-Fried and representatives from FTX, its sister company, Alameda Research, and Binance, which briefly suggested it would acquire FTX. Source

Collaboration key for Binance’s Investigations team

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Historical crime has left a proverbial black mark on the cryptocurrency ecosystem with multi-million dollar hacks, scams and fraud cases grabbing headlines around the world. Various research reports have highlighted the use of cryptocurrencies for illicit means, with varying degrees of severity since Bitcoin’s inception in 2009. This has ebbed and flowed but crypto is still perceived by some as a means to launder money, finance terrorism and facilitate other serious crimes. The prevalence of cryptocurrency-related crime inevitably led to the development of better tools and services to track and…

How to Lower Your Tax Bill With Cryptocurrency Losses

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Investments that are reported on Schedule D of your tax return include stocks, bonds, crypto, collectibles and homes. So you can use losses from any of these asset classes to offset each other and get to $3,000 in deductible losses. For example, if you had $15,000 in crypto losses and $10,000 in stock gains, you would have a net loss of $5,000. You can deduct up to $3,000 and then use the remaining $2,000 in losses to offset gains in 2023 and beyond. Source

What Are Utility NFTs?

As utility NFTs have evolved, they’ve also presented new ways to provide holders with digital access to events and platforms. Americana, for example, is an online marketplace for physical collectors seeking luxury items, similar to resale sites like Grailed or StockX. To buy or sell items with Americana, users are required to hold a Something Token (their native NFT) to signify their membership to the ecosystem. Source

International transfers: empowering innovation and growth whilst protecting people’s personal information

A blog by Emma Bate 17 November 2022 It’s important that businesses and organisations know how to protect people’s personal information when making international transfers, which are central to the increasingly global nature of businesses. Our work in this area aims to provide certainty, for all involved, that the right level of protection is in place. This blog and associated products is aimed at all businesses and organisations which transfer data internationally, and civil society. What we have published Earlier this year we published the International Data Transfer Agreement (IDTA)…

Shiba Inu Ranks No. 1 In Top 5,000 ETH Whales’ Crypto Holdings

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Shiba Inu (SHIB), the dog-themed crypto that once dreamed of flipping Dogecoin, is not in solid footing these days as it continues to fail in finding the right rhythm to bounce back and push its price to higher levels. According to latest data from Coingecko, at the time of this writing, the meme altcoin is trading at $0.00000931. Although it managed to climb by 1.5% over the last 24 hours, the asset is still down by 8.5% during the past seven days and by 27.7% over the last two weeks.…