Crypto lender Genesis Global asked a court to appoint a mediator for its bankruptcy proceedings, court documents show. Digital Currency Group (DCG), Genesis’ owner, said the move reflects the decision of a group of creditors to walk away from a preliminary agreement reached earlier this year. Source
In the crypto space, the term “airdrop” refers to the unsolicited distribution of tokens, usually for marketing purposes or as a reward for network participation or contributions. The first recorded crypto airdrop took place back in 2014 when Auroracoin handed out its native cryptocurrency, AUR. Another well-known airdrop was that of decentralized exchange Uniswap, which gave its UNI (UNI) governance token to its users in 2020. In total, over 250,000 accounts received 400 UNI each. While airdrops may have encouraged some to be more active on blockchain networks, Chris Bradbury,…
Coinbase emphasized that all proceedings related to Stand with Crypto NFT collection launched through ZORA will be donated to vetted organizations. The biggest cryptocurrency exchange in the United States Coinbase has recently filed a lawsuit against top financial regulators Securities and Exchange Commission (SEC). The move comes after months of embittered relations between the two parties over SEC’s stringent regulatory policies for all companies dealing with crypto. As the crypto exchange chooses the legal path to get regulatory clarity, Coinbase CEO Brian Armstrong minted an NFT recently and asked the…
Court documents were filed indicating that Do Kwon, co-founder and CEO of Terraform Labs, has asked for the dismissal of charges leveled against him by the Securities and Exchange Commission (SEC). In the motion filed on Friday, April 21 to have the SEC charges dismissed, Kwon argued the SEC’s claims are invalid, pushing back against the agency’s position that tokens including MIR, LUNA (LUNA) and UST are securities. Additionally, Kwon’s counsel said the agency lacked the proper jurisdiction to bring charges against Kwon and Terraform Labs because Terra’s tokens and…
Lemon8 growth in the US could also get the attention of US regulators, especially due to its relationship with ByteDance. Chinese tech giant and TikTok developer ByteDance is pushing another social media app, Lemon8, into the US market as TikTok faces a possible ban. The popular short video app is under pressure in the US due to concerns over the handling of users’ data. Already, more than 24 states in the country have banned TikTok on government-issued devices. US lawmakers have referred to laws that allow the Chinese government to secretly demand…
Fox Corporation stock suffered a massive dent in value less than a day after announcing the departure of longtime TV host Tucker Carlson. Shares of Fox Corporation (NASDAQ: FOXA) declined 5% on Monday following Tucker Carlson’s exit. The mass media company previously announced that Carlson was leaving the Fox News network for his involvement in a string of controversies. During the early trading session, Fox Corporation shed nearly a billion ($962 million) of its market value. However, the media syndicate’s Class A recovered marginally to trade at $32.65 at 1:32 pm Eastern Time (ET).…
Bitcoin remained close to a four-week low on Tuesday, as prices fell to a support point around $27,000. The decline came ahead of this afternoon’s U.S. consumer confidence report, which is expected to fall from 104.2, to a reading of 104 in April. Ethereum was also lower, and approached a breakout below the $1,800 level. Bitcoin Bitcoin (BTC) continued to trade near a one-month low, as markets prepared for the upcoming consumer confidence report in the United States. Following a high of $27,701.26 during yesterday’s session, BTC/USD fell to a…
As crypto exchange Coinbase makes a push toward a sensible regulatory environment for the crypto space, the exchange launched a nonfungible token (NFT) collection to gain the community’s support. However, not everyone is excited about the move, with some not even sure if it will have any impact at all. On April 25, Coinbase launched an NFT campaign dubbed “Stand With Crypto” after filing a court action that aims to compel the United States Securities and Exchange Commission to answer its rulemaking petition. According to Coinbase, the NFTs represent the…
Chamath Palihapitiya blamed the US regulators for their heavy crackdown recently on the US crypto industry and all associated players. In the latest regulatory developments taking place in the United States, popular tech investor Chamath Palihapitiya shared a very cautious move about crypto assets. Over the last few years, Palihapitiya has been sharing bullish views about Bitcoin stating that it has replaced gold and that the BTC price would shoot to $200,000. Chamath Palihapitiya and His Opinion on Crypto During the latest interview on the All-In podcast, the tech investor…
The latest price moves in bitcoin (BTC) and crypto markets in context for April 25, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source