Tag: Firm

Gas-to-Bitcoin Firm Crusoe Energy Sues Rival Alkane Midstream Over Patent Infringement – Bitcoin News

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The Denver-based gas-to-bitcoin infrastructure company Crusoe Energy is suing the rival firm Alkane Midstream LLC over alleged patent infringement and poaching customers in Colorado. Crusoe’s lawsuit claims since November 2019, “Alkane was actively monitoring Crusoe and its business.” Crypto Flare Mitigation Company Crusoe Files a Lawsuit Against the Texas-Based Alkane Midstream Gas-to-bitcoin flare mitigation company Crusoe Energy filed a lawsuit against the company Alkane Midstream on August 22, 2022. The gas-to-bitcoin infrastructure firm is asking the Denver division of Colorado’s federal court to order Alkane to stop infringing on two…

Crypto Exchange Zipmex Appoints Restructuring Firm to Forge Recovery Plan

Zipmex is one of many crypto companies that withered as the market slid earlier this year. Bitcoin fell from $69,000 to $17,000 in six months, bankrupting lenders like Celsius Network and Voyager Digital while Singapore-based hedge fund Three Arrows Capital imploded. Zipmex loaned $48 million to Babel Finance, also a crypto lender, and $5 million to Celsius, none of which has been repaid. Source

Crypto ATM firm Bitcoin Depot aims to go public in 2023 via $885M SPAC deal

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Bitcoin Depot, a major cryptocurrency ATM provider in the United States, is planning to go public through a merger with a special-purpose acquisition company (SPAC). Atlanta-based Bitcoin Depot has reached a definitive agreement to merge with the SPAC GSR II Meteora (GSRM) in an $885 million deal to go public, the firm officially announced on Thursday. The business combination would result in Bitcoin Depot becoming a publicly listed company as the combined company — to be dubbed Bitcoin Depot Inc. — will trade on the Nasdaq under the new ticker…

Bitcoin (BTC) Flying Out of Exchanges As HODLers Lose Faith In Centralized Entities: Crypto Insights Firm

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Arcane Research says that investors are moving their Bitcoin (BTC) out of exchanges as crypto users increasingly prefer holding their own digital assets. In a new report, the crypto insights firm says that the benchmark digital asset has been flowing out of exchanges for seven of the past eight months of 2022. Source: Arcane Research According to the report, Bitcoin deposits saw an uptick in May, but BTC in exchanges plunged again in June as investors withdrew their assets after the collapse of Terra (LUNA). From a positive net flow…

Celsius calls out Prime Trust in court, alleging firm didn’t turn over $17M in crypto

Crypto lending platform Celsius Network has filed a lawsuit claiming that custodian Prime Trust failed to turn over roughly $17 million worth of cryptocurrency. In a Tuesday filing with the U.S. Bankruptcy Court in the Southern District of New York, Celsius’ legal team brought a complaint against Prime Trust, alleging the company did not return $17 million worth of crypto assets in June 2021 when it terminated its relationship with the lending firm. According to Celsius, Prime Trust acted as crypto custodian for New York- and Washington-based users from 2020…

Blockchain Protocol Algorand Leads $22M Investment Round in Tokenization Firm Koibanx

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