Month: February 2023

Indian Web3 Social App Chingari Partners with Aptos Blockchain; GARI Token Surges 48

The partnership, which will take the Solana-native platform multi-chain, is scheduled to launch in the second quarter this year. The version of the Chingari app that will launch in Aptos will boast a “more scalable experience with newer products,” according to the blog. Legacy support for Solana-based Chingari users will remain, however. Source AppAptosBlockchainChingariGARIIndianPartnerssocialSurgesTokenWeb3 CryptoX Portal

3AC founder has ‘chosen to ignore his duties’ by not responding to subpoena, say bankruptcy lawyers

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Three Arrows Capital founder Kyle Davies has not responded to a subpoena issued over Twitter aiming to gather information related to the firm’s assets. In a Feb. 7 filing with United States Bankruptcy Court in the Southern District of New York, lawyers with the Latham & Watkins firm representing 3AC liquidators said Davies had “chosen to ignore his duties to Three Arrows” by failing to comply with the online subpoena. Courts in Singapore and the U.S. previously authorized the use of Twitter to issue subpoenas due to the whereabouts of…

3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

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According to recent court filings, Kyle Davies, co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has allegedly failed to respond to a subpoena from the firm’s current liquidators, despite it being sent via Twitter. Representatives from advisory company Teneo state that Davies continues to ignore his obligations to Three Arrows. 3AC Liquidators Frustrated With Lack of Response From Co-Founders A recent filing submitted to the New York bankruptcy court states that Kyle Davies, co-founder of 3AC, is obstructing or disregarding requests from the 3AC Liquidation team. Additionally,…

Bitcoin Fixes the Asymmetry of Information Problem in Markets

Information symmetry also matters a lot for market structure. Take lending, for example. In traditional finance, borrowers have a more detailed idea of what they plan to do with the solicited funds, and this may be different than what they tell the lender, who compensates for this lack of transparency by requiring a ton of paperwork and/or applying math to credit profiles. Even when collateral is required, there is uncertainty: is that house, yacht or painting really worth its stated valuation? The compensation for this risk shows up in the…

ConsenSys adds 7.03M votes to Uniswap BNB Chain migration proposal amid VC battle

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Web3 infrastructure developer ConsenSys, the maker of the popular MetaMask digital wallet, has cast 7.03 million votes in favor of a proposal that would see decentralized exchange Uniswap’s v3 protocol deployed on BNB Chain, according to data from Tally. The votes are denominated by the number of underlying UNI owned by ConsenSys, which is worth an estimated $47.5 million. At the time of writing, 77.56% of participants were in favor of the proposal, with 22.07% against it. The week-long voting process will close on Feb. 10. As Cointelegraph previously reported,…