“Under the terms of our agreement, on November 16, we notified them that we were surrendering our cash collateral and liquidating their crypto to close out the loan,” Cumberland said. “This left an outstanding balance due to us of approximately $46,064.34, consistent with our November tweet. We have established no further borrows from Genesis and have no additional exposure.” Source
The former head of FTX US is launching a new cryptocurrency software company and has raised $5 million from several investors, according to Bloomberg. Brett Harrison, who served as president of FTX US between May 2021 and September 2022, has received backing from Coinbase Ventures and Circle Ventures to launch a new software startup. SALT Fund, Motivate VC, P2P Validator, Third Kind Venture Capital, Shari Glazer of Kalos Labs and Anthony Scaramucci also participated in the seed round. His new startup, dubbed Architect, will develop trading software for large institutions…
Activity in decentralized exchanges like dYdX and GMX, offering perpetual futures, has picked up pace since the collapse of centralized derivatives giant FTX. Trading volume on dYdX increased to $2.9 billion on Jan. 14, according to data from Nomics, after reaching lows of $212 million after FTX’s unfolding. Perpetuals are futures contracts, but unlike the latter, they don’t have an expiry date. That allows traders, both bulls and bears, to hold their long/short positions as long as they like. Source 200MAheadanalystsCryptodYdXShortingTokenUnlockWarn CryptoX Portal
The names and information of most of the other top 50 creditors remain redacted, but the twelfth-largest unsecured creditor is listed as Hong Kong-based crypto trading firm Pulsar Global Ltd, with a claim of $92.9 million, while individual creditor Larry Qian is 14th with a claim of $91.1 million. Another notable name on the list is Singapore-based crypto market maker Wintermute, 29th on the list with a claim of $33.0 million. Source
PayPal sent notifications to all the affected accounts asking them to change their passwords. PayPal said that there had been no breach in their systems. One of the world’s largest online payment services platforms PayPal faced a major breach of data last month between December 6 and December 8, 2022. As per reports, the hackers got away with the sensitive information of 34,942 accounts. PayPal noted that the data included the Name, address, personal tax identification numbers, social security number, and date of birth, of the compromised accounts. The company…
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Bitcoin price prediction 2023 | Cryptocurrency bull run start | historical data not match 2022 bitcoin in 2023 … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version
In addition to paying fines, Nexo will reportedly cease its unregistered lending product to all US investors. Crypto-lending firm Nexo has agreed to pay fines of $45 million to the Securities and Exchange Commission (SEC) for violating federal securities law. According to the regulatory agency, Nexo failed to register its crypto asset lending product. The SEC further stated that the crypto platform initiated this unregistered security in 2020, allowing US customers to earn. Addressing the situation in a statement, SEC Chair Gary Gensler explained: “We charged Nexo with failing to register its…
Cardano (ADA) and XRP are popular entry-level investments in the crypto market due to their low prices below $1. But what are the prospects for both altcoins in 2023? We’ll take a look at the fundamentals as well as the technical analysis perspective. XRP Prediction 2023 The success of the XRP price this year could largely depend on the outcome of the court case between Ripple and the U.S. Securities and Exchange Commission (SEC). If Ripple manages to leave the courtroom as the winner, the price could skyrocket. According to…
Investors included the venture arms of Coinbase and Circle, a former FTX portfolio company. Source
The crypto finance firm filed for Chapter 11 bankruptcy yesterday, with debts around $3.5 billion. Source