Winklevoss Twins’ Gemini Promises to Return $1.1B to Earn Customers in NYDFS Settlement

“In addition to Gemini’s failures related to Earn, the Department’s investigation revealed that Gemini engaged in unsafe and unsound practices that ultimately threatened the financial health of the company,” the press release said. “Gemini Liquidity LLC, an unregulated affiliate, collected hundreds of millions of dollars in fees from Gemini customers that otherwise could have gone to Gemini, substantially weakening Gemini’s financial condition.” Source

Blast Secures $1.1B in Deposits Ahead of Launch

The native BLUR token has also seen positive price movements. 2024 is only a few days away and we already have many highly anticipated blockchain projects in the works. Even though it is the holidays, crypto lovers are still engaging with these projects and many of them seem very promising. Take Blast, a layer-2 blockchain that is being launched by the creators of Blur. The blockchain will not be fully live until February 2024 but has already reported an impressive $1.1 billion in deposits. Blast Makes a Splash According to publicly…

Layer 2 Arbitrum to Unlock 1.1B ARB Tokens in 7 Months

On March 16, the protocol designed to offer scalable and low-cost smart contract capabilities will “cliff unlock” 1.11 billion ARB tokens worth $1.24 billion at the going market rate of $1.12. The amount to be released equates to 87% of the token’s circulating supply of 1.275 billion. At press time, over 5 billion ARB tokens remain locked. Source

Crypto Giant Digital Currency Group Books Loss of $1.1B in 2022

The crypto winter of 2022 has put severe stress on the balance sheet of DCG. The company is working on major restructuring with the blowup of its crypto lending subsidiary Genesis. On Monday, February 27, crypto conglomerate Digital Currency Group (DCG) announced its results for the last year of 2022. The company reported a net loss of $1.1 billion amid heavy correction in the crypto space and the restructuring of its lending platform Genesis. During the fourth quarter, DCG reported revenue of $143 million with a loss of $24 million.…

Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in ‘Challenging’ 2022

From a consolidated balance sheet perspective, DCG held total assets of $5.3 billion as of Dec. 31, 2022, the report said. This included cash and cash equivalents of just $262 million. Investment assets, including tokens, Grayscale trust shares, venture and fund investments amounted to $670 million. The remaining assets consist mostly of assets held by divisions Grayscale and Foundry, according to DCG. Source