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The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the arrangement “closes all multi-year-long inquiries into Nexo.” Nexo Pays $22.5 Million to SEC, $22.5 Million to Several State Regulators for EIP Offering On Jan. 19, 2023, Nexo announced that it has agreed to settle with…
Place/Date: – January 20th, 2023 at 5:19 am UTC · 4 min read Source: Big Eyes Coin Welcome to the Metaverse, a virtual world where anything is possible and cryptocurrencies shall reign supreme. The Metaverse used to feel like a distant futuristic term, but since Mark Zuckerberg made a bold move to rebrand Facebook as Meta Platforms last year, everyone is raving about what this could mean for us. This digital space is becoming increasingly important as it offers its users a space to transact in digital assets, explore innovative…
Place/Date: – January 20th, 2023 at 5:12 am UTC · 3 min read Source: Orbeon Protocol Taking advantage of ORBN’s rising value, more investors in the crypto space are adding it to their portfolios with SAND and ROSE holders stockpiling more of this token. Let’s see why ORBN has suddenly become a center of attraction for more cryptocurrency investors: The Sandbox (SAND) Crashes in the Crypto Market The Sandbox is a blockchain-based, game-inspired virtual world where users can build, create, buy, or sell game-themed digital assets. The Sandbox team combined…
Place/Date: – January 20th, 2023 at 5:11 am UTC · 4 min read Source: Snowfall Protocol The cryptocurrency market has been generating a lot of buzz lately because of the major price gains that it has been providing investors. Some of the most well-known tokens in the market like Aptos (APT) and Near Protocol (NEAR) have seen significant price improvements. However, compared to the newly introduced Snowfall Protocol, the gains are much lower. So what is so unique about Snowfall Protocol, which has helped it go past existing tokens in…
Place/Date: – January 20th, 2023 at 5:10 am UTC · 3 min read Source: Snowfall Protocol The crypto world has witnessed the launch of 21,000+ cryptocurrencies so far, out of which only 9,000 odd cryptos survive today. This milieu of the crypto-verse where new cryptos enter and old cryptos slide into oblivion, is a fast-evolving beast. Mistakes are costly and are often paid for by crypto projects as catastrophic failures. Even established cryptos that failed to meet the growing or changing needs of their users collapsed without much fanfare. However,…
Ransomware victims have seemingly had enough of the extortion, with ransomware revenues for attackers plummeting 40% to $456.8 million in 2022. Blockchain intelligence firm Chainalysis shared the data in a Jan. 19 report, noting that the figures don’t necessarily mean the number of attacks is down from the previous year. Instead, Chainalysis noted that companies have been forced to tighten cybersecurity measures, while ransom victims have been increasingly unwilling to pay attackers their demands. Total value extorted by ransomware attackers between 2017 and 2022. Source: Chainalysis. The findings formed part…
Three men drove their car into the metal barricade outside Sam Bankman-Fried’s parent’s home where he is under house arrest, SBF’s lawyers claim. In a filing to the federal court, the lawyers for the former FTX CEO said the three men got out of the car after hitting the barricade and told a security guard guarding the home: “You won’t be able to stop us.” The unidentified trio were then able to drive away before security guards could record the car’s license plate. According to a Reuters report, the incident…
Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York. The firm has estimated liabilities of $1 billion to $10 billion and assets in the same range, according to the Jan. 19 filing. Earlier reports claimed the company had been considering filing for bankruptcy protection if it was unable to raise capital to stem its liquidity crisis. In a Jan. 19 press release, Genesis said it had been engaged in discussions with its advisors “to its creditors and corporate parent Digital Currency Group (DCG) to…
Today’s bankruptcy filing could have broader implications for bitcoin as Genesis and digital assets manager Grayscale share the same parent company in DCG. Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has $10 billion-plus in assets under management and was late last year trading at a record discount to net asset value, although that discount has narrowed recently. There are market fears that the repercussions of the Genesis bankruptcy could somehow lead to the liquidation of GBTC’s holdings of 600,000+ bitcoin. Source BankruptcyFilesGenesisGlobalprotection CryptoX Portal