Tag: News

FTX Debtors’ List of Assets Omits Mention of Large Stash of NFTs and ENS Names Owned by Alameda  – Bitcoin News

This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large stash of non-fungible tokens the company had accrued over the years. FTX and Alameda’s Liquidated Assets Include Thousands of NFTs and ENS Names FTX’s inner circle and the quantitative trading company Alameda Research were heavily…

Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy – Bitcoin News

boss

According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that Coindesk had received takeover solicitations from several investors. Coindesk’s Alleged Asking Price: $200 Million or More as Charles Hoskinson and Marsbit Express Interest in Purchase Investors are reportedly considering purchasing the cryptocurrency news publication Coindesk…

SOL Rebounds From Recent Losses, ATOM 5% Higher on Friday – Bitcoin News

boss

Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday’s move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point. Cosmos (ATOM) Cosmos (ATOM), was one of Friday’s notable gainers, as the token moved closer to a key resistance level. Following a low of $11.70 on Thursday, ATOM/USD raced to an intraday peak of $12.38 earlier today. As a result of this move, cosmos moved…

Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit – Featured Bitcoin News

boss

Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations and facilitate the restructuring process.” Genesis’ Bankruptcy Filing Genesis Global Holdco LLC, a prime brokerage subsidiary of venture capital firm Digital Currency Group (DCG), announced Friday that it has voluntarily filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The…

BTC Back Above $21,000 Despite Genesis Bankruptcy – Market Updates Bitcoin News

boss

Bitcoin crept back up to the $21,000 level on Friday, as volatility in the cryptocurrency market remained high. After falling by nearly 4% in Thursday’s session, the global market cap is up by 1.14% as of writing. This comes despite the news that crypto lender Genesis has recently filed for bankruptcy. Ethereum was also in the green, as it rebounded from Thursday’s lows. Bitcoin Bitcoin (BTC) climbed higher on Friday, as the world’s largest cryptocurrency rebounded from Thursday’s losses. The rally comes despite the news that crypto lender Genesis has…

Somalia to Fight Inflation and Counterfeiters With New Banknotes – Africa Bitcoin News

boss

According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills with newly designed banknotes in 2024. Preserving the Value of New Money The Central Bank of Somalia (CBS) plans to replace old, high-value shilling bills that have been in circulation since 1991 with redesigned banknotes. The central bank hopes this process, which it expects to complete…

Banking Panel Reinforces the Need for Crypto Regulation – Bitcoin News

boss

A group of global banking experts hosted by the World Economic Forum (WEF) convened about the need for global crypto regulation, including stablecoins and unbacked crypto assets. The panel agreed there must be at least some kind of base regulation for these assets and bank-equivalent regulation for blockchain applications seeking to offer products similar to what traditional banking offers. WEF Global Banking Panel Seeks More Crypto Regulation Global bankers have agreed on the need for more clear regulations for cryptocurrencies. In a panel titled “Banking in the Eye of the…

Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022 – Finance Bitcoin News

boss

Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the firm remains “focused on providing value-added services for [its] core institutional customers.” Confidence Crisis Less than a month after Silvergate Bank reported a massive drop in customer deposits, the crypto-focused financial institution’s parent firm, Silvergate…

Binance to Increase Presence in Poland in Compliance With Local Regulations – Exchanges Bitcoin News

boss

Binance has unveiled intentions to broaden its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent and launch educational initiatives. Crypto Exchange Binance Moves Forward With Plans to Expand Operations in Poland Binance, the world’s largest digital asset trading platform, is enhancing its presence in Poland, noting in an announcement that it maintains its commitment to comply with the country’s rules for virtual asset service providers (VASPs). The expansion in 2023 will…