Day: February 27, 2023

DCG losses top $1B on the back of 3AC collapse in 2022

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Cryptocurrency venture capital conglomerate Digital Currency Group (DCG) has reported losses of over $1 billion in 2022 due largely to the contagion relating tocollapse of crypto hedge fund, Three Arrows Capital (3AC). DCG reportedly lost $1.1 billion last year, according to its Q4 2022 investor report,  and said the results “reflect the impact of the Three Arrow Capital default upon Genesis” along with the “negative impact” from falling crypto prices. Genesis is the lending arm of DCG, the firm filed for Chapter 11 bankruptcy in late January. Genesis is 3AC’s…

Coinbase to Suspend Trading of BUSD Amid Regulatory Crackdown – Bitcoin News

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Cryptocurrency exchange Coinbase announced it will suspend trading and delist the Paxos-managed stablecoin asset BUSD. The decision follows Paxos’ revelation that the New York State Department of Financial Services directed the firm to stop issuing the U.S. dollar-pegged token BUSD. Coinbase to Suspend BUSD Stablecoin on March 13 On Feb. 27, 2023, Coinbase announced that it will suspend trading of binance usd (BUSD) following a recent regulatory crackdown on the stablecoin by the New York State Department of Financial Services (NYDFS) on February 13. Reports indicated that the U.S. Securities…

Robinhood subpoenaed by SEC over crypto listings and custody

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Robinhood Markets has confirmed that it had received an investigative subpoena from the United States Securities Exchange Commission (SEC) over its digital asset business’ crypto listings, custody and platform operations. In a 10-K filing, the brokerage said it received the investigative subpoena in December shortly after crypto exchange FTX filed for bankruptcy in November, and after “several other major cryptocurrency trading venues and lending platforms earlier in 2022,” including Three Arrows Capital, Voyager Digital Holdings and Celsius Network. The investigative subpoena was in relation to its cryptocurrency listings and custody services,…

Crypto Con Artists Leave Trail of ‘Rip Deal’ Victims From Amsterdam to Rome

Since the release of The Register’s article, multiple people told CoinDesk they suspect that some scammers posing as victims have tried to infiltrate the victims’ Telegram group to collect information on what they know and which authorities they’ve spoken to, causing more distrust among members who already have lost a lot of trust – in each other, business, law enforcement, the crypto industry and maybe humanity more broadly writ. Source

Winning Dookey Dash Key Sold for $1.6M

CryptoX – Cryptocurrency Analysis and News Portal The one-of-one “Golden Key” was earned by receiving the highest score on Yuga Labs’ skill-based NFT game Dookey Dash last month. Original Source The post Winning Dookey Dash Key Sold for $1.6M appeared first on CryptoX. CryptoX Portal