Month: January 2023

Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets – Bitcoin News

Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion, “depending on their evaluation of the situation.” Additionally, the crypto investment manager Osprey has published an open letter to Barry Silbert of Digital Currency Group in an attempt to take over the management of Grayscale’s Bitcoin Trust (GBTC). Osprey Proposes Management Changes to Grayscale’s Bitcoin Trust in Open Letter…

New York sued by environmental group after approval of crypto mining facility: Report

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The New York Public Service Commission (PSC) was sued by environmental activists on Jan. 13 for approving the takeover of a cryptocurrency mining facility in the state. According to The Guardian, the state Public Service Commission (PSC) is responsible for regulating public utilities, and authorized in September 2022 the conversion of the Fortistar North power plant into a crypto mining site. The facility is located in Tonawanda, a city less than ten miles from Niagara Falls, and was set to be taken over by the Canadian crypto mining firm Digihost.…

SHIB Hits 6-Week High, Whilst SOL Extends Recent Gains – Market Updates Bitcoin News

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Solana surged by as much as 30% on Saturday, setting a fresh multi-month high in the process. The move comes as cryptocurrency markets were significantly bullish to start the weekend, with the global market cap 8.28% higher as of writing. Shiba inu was trading at its strongest point since November. Solana (SOL) Solana (SOL) was easily one of the biggest movers to start the weekend, with prices skyrocketing by as much as 30%. Following a low of $16.52 yesterday, SOL/USD surged to an intraday high of $22.37 earlier today. As…

Cointelegraph heads to Davos for World Economic Forum

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As the World Economic Forum brings global leaders together to tackle global issues, a number of cryptocurrency and blockchain events will create a vibrant sideshow in the snowy ski destination in the Swiss Alps. Cointelegraph will be on the ground to cover the World Economic Forum (WEF) as well as a host of blockchain-focused events taking place. Key members from global governments, businesses and civil society converge on the town annually for the WEF conference, but cryptocurrency and blockchain events are beginning to make their mark during the exclusive event.…

Bitmex Co-Founder Criticizes Former FTX CEO for Not Liquidating Hedge Fund Alameda – Bitcoin News

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The Bitmex co-founder, Arthur Hayes, criticized Sam Bankman-Fried, the disgraced FTX co-founder, on Friday after Bankman-Fried published his first blog post on his new Substack newsletter. “All this talk about what Alameda did is misdirection,” Hayes insisted. “It doesn’t matter how they hedged or didn’t hedge, or what dogsh** was in their portfolio.” Bitmex Co-Founder Accuses Former FTX CEO of Avoiding Transparency Arthur Hayes, co-founder of the cryptocurrency derivatives platform Bitmex, criticized Sam Bankman-Fried, former CEO of FTX, following a recent blog post. In the blog post, Bankman-Fried said “Alameda…

Gemini and Genesis’ legal troubles stand to shake up industry further

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With investor confidence seemingly at an all-time low thanks to the recent slew of insolvencies, a new saga seems to be now unfolding in real time. This one involves crypto exchange Gemini’s Winklevoss twins and Barry Silbert, CEO of Digital Currency Group (DCG) — the parent firm behind crypto market maker and lender Genesis. On Jan. 2, Cameron Winklevoss posted an open letter to Barry Silbert reminding him of the fact that it had been “47 days since Genesis halted withdrawals” while also providing a blunt, seemingly confrontational assessment of…