Month: May 2023

First Mover Americas: Bitcoin Price Edges Lower, Tron Rallies

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BlockFi Ordered by U.S. Bankruptcy Court to Withdraw Unapproved Reorganization Plan Shared ‘Prematurely’

CryptoX – Cryptocurrency Analysis and News Portal The creditors and other parties do not support the reorganization plan, the corrective letter said. The Official Committee of Unsecured Creditors “believes that the plan provides releases of litigation claims against, among others, current and former directors and officers of BlockFi that committed significant misconduct that harmed BlockFi and its customers.” Original Source The post BlockFi Ordered by U.S. Bankruptcy Court to Withdraw Unapproved Reorganization Plan Shared ‘Prematurely’ appeared first on CryptoX. CryptoX Portal

BlockFi Ordered by U.S. Bankruptcy Court to Withdraw Unapproved Reorganization Plan Shared ‘Prematurely’

The creditors and other parties do not support the reorganization plan, the corrective letter said. The Official Committee of Unsecured Creditors “believes that the plan provides releases of litigation claims against, among others, current and former directors and officers of BlockFi that committed significant misconduct that harmed BlockFi and its customers.” Source

Blockchain Network EOS’ Participants Should Consider Legal Action Against Major Investor Block.one (B1): EOS Foundation CEO

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STEPN Integrates Apple Pay

“It’s very prestigious, and a privilege, to be able to be approved by Apple for this kind of integration…These big platforms give us exposure to bigger audiences,” said Manghani. “Our attempt always has been to diversify and expose both the app as well as Web3, and the benefits that it can bring to an audience that is not limited just to within the Web3 community.” Source

Gemini Says Genesis Parent DCG Defaulted on $630M Payment, Updates Contingency Plan

Gemini seeks to exact its owed payment sum from Genesis parent DCG and is working with several creditors on a forbearance plan. Gemini Trust Company LLC recently said that Genesis parent DCG missed a $630 million loan payment last week. This development is the latest occurrence in the ongoing dispute between the Cameron Winklevoss-run crypto custodian and digital currency VC firm. In January, Gemini CEO Winklevoss threatened to sue his DCG counterpart Barry Silbert, and the entire company, over a $900 million loan repayment. At the time, Winklevoss’ threat came after one of…

Crypto Trading Platform Hotbit Terminates Centralized Exchange Operations

The crypto industry will pivot increasingly toward more decentralized business models in response to the sterner regulatory oversight of centralized firms following FTX’s collapse, according to Hotbit. Decentralized businesses should in theory be able to avoid the risk of there being a single point of failure, as occurred with FTX. Source CentralizedCryptoExchangeHotbitOperationsPlatformTerminatesTrading CryptoX Portal

China Fuels New Chip War as It Bans Purchases from Micron Technology

The ban on Micron Technology has drawn a response from US Commerce Secretary Gina Raimondo who said America will not sit back and firmly oppose restrictions that are not backed by proper facts.  The chip and semiconductor industry is likely to see its next major distortion following the labeling of United States-based chipmaker Micron Technology Inc (NASDAQ: MU) as a threat to its National security infrastructure. As reported by CNBC, China’s Cyberspace Administration said Micron failed to pass its latest security review. This failure prompted the regulator to direct all…

Crypto community reacts to bitcoin’s drop below the $27k mark

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The broader crypto markets have been tumbling over the past month, with a more profound fall in the first week of May. As the markets fell, bitcoin (BTC) started to drop from its local top of roughly $30,000 in the last week of April. Bitcoin registered its deepest local price drop on May 12 — plunging to around $26,290 — as the global crypto market cap witnessed a $140 billion loss in just 24 hours. Moreover,…