The estate argues that any court orders while FTX Dubai was part of the proceedings should stand, but that the dismissal requested “is necessary” to protect the debtors and authorize them to, for instance, pay pre-bankruptcy wages and salaries, along with other compensation, benefits and expenses to Dubai employees. Source
BlockFi’s reorganization is gradually progressing, with the company revealing that the United States Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement. BlockFi and the Official Committee of Unsecured Creditors jointly issued a statement on Aug. 2, 2023, urging all eligible parties to vote to accept the plan by the Sept. 11 voting deadline. The successful approval of the plan will effectively resolve the Chapter 11 cases and facilitate the return of client funds. Once the bankruptcy plan receives approval, the lender said it intends…
Hong Kong is expanding cryptocurrency trading exposure to individual investors, with at least one exchange getting the regulatory green light to offer such services. Local digital asset firm HashKey has successfully obtained all necessary licensing to expand its business from serving professional investors to taking on retail users. HashKey’s new regulatory milestone has been enabled through the upgrade of two major licenses issued by Hong Kong’s Securities and Futures Commission (SFC). The first license, known as Type 1, allows HashKey to operate a virtual asset trading platform under Hong Kong’s…
The chart shows ether’s USDT-denominated price and aggregated maximum slippage – the highest daily slippage on a single market order. The aggregated max slippage includes data from crypto exchanges Binance, BitMEX, Bybit, Bitfinex, Deribit, Huobi, OKX, Phemex, and quarterly futures listed on Huobi and OKX. Source
Kaspa continues to captivate the blockchain sphere with its interesting nature as a Directed Acyclic Graph (DAG)-based proof-of-work (PoW) platform. Emerging onto the scene precisely when the blockchain realm was searching for an Ethereum (ETH) alternative, Kaspa’s protocol arrived as a timely solution. This came after Ethereum’s transition from proof-of-work to a proof-of-stake (PoS) framework the previous year. A DAG-based PoW is a variation of the traditional proof-of-work consensus mechanism used in blockchain systems. In a typical blockchain PoW system, miners compete to solve complex mathematical puzzles in order to…
Ripple clarified six misconceptions about the recent ruling. After it, XRP and Bitcoin are the only digital assets that aren’t considered securities in the US. On July 13, Judge Torres ruled in the trial of Ripple v. SEC, stating that Ripple is not a security. The first point that the company addressed in its Q2 report is that the decision issued by Judge Torres wasn’t split. The company said that it’s clear that the main point of the court decision was to understand if Ripple was or was not a…
“As an existing Type 1 and Type 7 licenses holder, HashKey Exchange successfully underwent a simplified process to obtain the licence upgrade … to expand its business scope from serving professional investors to retail users, fulfilling market demand for a licensed platform that offers users a safer and simpler process for buying and storing cryptocurrencies.” the exchange said. Source
Social investing platform eToro’s Australia entity (eToro Aus Capital Limited) has been sued by Australia’s markets regulator. Source
Crypto-spouting Twitter bots could be playing a much larger role in artificially inflating the price of altcoins than previously understood, a new study has suggested. Using a sample of various FTX-listed cryptocurrencies in a study published Aug. 2, the Network Contagion Research Institute (NCRI) said it analyzed over 3 million tweets posted between Jan. 1, 2019, to Jan. 27, 2023, surrounding 18 altcoins. The study found that Twitter bot activity played a crucial role in amplifying the value of these cryptocurrencies, including The Sandbox (SAND), Gala (GALA), Gods Unchained (GODS) and LooksRare…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MicroStrategy plans to sell 750 million shares of stock to acquire more Bitcoin (BTC). Its current portfolio holds a total of 152,800 BTC. The company reported its intention to acquire more BTC in an SEC filing on August 1. MicroStrategy reported $22.2 million in net income, increasing its revenue by far compared to last year’s period, with a net loss of 1.1 billion. The company had 152,800 bitcoins by July 31, valued at 4.5 billion USD.…