New rules from the SEC and FCC, and the former’s own SIM swap incident, are likely to raise scrutiny on crypto firms to clamp down on a scourge of identity-hacks, says Andrew Adams, partner at Steptoe. Source
The dream of a revived FTX exchange evaporates, triggering a massive sell-off of its native token, FTT. According to Kaiko, on February 5, FTT, the now utility-free currency of the defunct exchange, plummeted over 30% last week, erasing much of its recent gains fueled by speculation of an FTX comeback. FTT price collapse | Source: Kaiko via X FTX Won’t Resume Operations The worrying drop follows reports that the bankrupt exchange, once led by Sam Bankman-Fried, is unlikely to resume operations. Notably, the news comes despite a glimmer of hope…
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…
Setting up the sales procedures now will let the estate “coordinate the most optimal and appropriate time for the sale of Anthropic Shares in conjunction with Anthropic’s capital raising efforts” and maximize the value of the estate “for the benefit of all stakeholders” Friday’s filing said. Source
This week saw a surge in global crypto enforcement actions, with the U.S., Germany and Hong Kong taking center stage. Ripple co-founder and chairman Chris Larsen suffered a massive hack. Meanwhile, FTX disclosed plans to fully repay its customers. Enforcement actions Multiple enforcement actions rocked the crypto scene this week, with the U.S. accounting for a substantial amount. The U.S. Department of Justice (DoJ) leveled charges against Belarusian national Aliaksandr Klimenka in a case involving Russian crypto exchange platform BTC-e. In a subsequent enforcement action, the DoJ also brought charges…
“The FTX recovery marks the end of crypto claims estates. The OX community will be focusing on Ox.Fun now, and wish to congratulate the FTX estate holders on their full recovery,” Zhu said in a statement provided by co-founder Kyle Davies on Telegram. Davies said the two are advisers to Ox.Fun, a recently launched derivatives exchange, focused around the Ox token. Source
Sam Bankman-Fried’s cryptocurrency exchange infamously collapsed months after the commercial. Source
Bankrupt cryptocurrency lending company Celsius Network has followed behind FTX, revealing plans to disburse billions of dollars in crypto to creditors and establish a new Bitcoin mining company for its creditors. Celsius To Distribute $3 Billion In Crypto To Creditors In a press release published on Wednesday, Celsius Network announced its successful emergence from bankruptcy. The company is now set to implement its “plan of reorganization,” which involves distributing over $3 billion in crypto assets and fiat currency to its creditors. The crypto lending company claimed that the reorganization plan…
Bankrupt cryptocurrency exchange FTX is liquidating assets to repay customers, abandoning plans for a restart due to financial and legal difficulties. This decision was announced by FTX’s attorney, Andy Dietderich, during a bankruptcy court hearing in Delaware. FTX filed for bankruptcy in November 2022 and has been embroiled in several controversies and legal challenges. Its founder, Sam Bankman-Fried, has faced fraud charges linked to his company management. According to Dietderich, efforts to find investors or buyers for FTX were unsuccessful, highlighting the company’s lack of sustainable technology and administration. Dietderich…
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…