According to a Dec. 3 Financial Times report citing people familiar with the subject. Crypto lender Genesis and its parent firm Digital Currency Group (DCG) are believed to owe $900 million to Gemini’s consumers. Furthermore, the problem originated with the shocking FTX crash in November. In cooperation with Genesis, the
December 4, 2022 1 min read
The bankruptcy watchdog at the US Department of Justice (DOJ) demanded a separate investigation. Into the FTX Group’s demise on Thursday. Allegations of “fraud, dishonesty, incompetence, misconduct, and mismanagement” were made against the cryptocurrency exchange. Prompting the need for an independent investigation. The US Trustee, a branch of the Department
December 3, 2022 2 mins read
Recently, Alibaba Cloud has announced a number of partnerships with prominent networks and institutions; however, with its partnership with Avalanche, it has entered the crypto space, which will undoubtedly hasten the tech giant’s backing for Web3. On Friday, Avalanche announced that Alibaba Cloud will be joining their public blockchain as
December 3, 2022 2 mins read
Binance, the biggest cryptocurrency exchange in the world, has completed the sixth batch of the LUNC burn mechanism, burning nearly 6 billion Terra Classic (LUNC) tokens. With its most recent burn, Binance has now burned about 20 billion LUNC tokens from trading fees on LUNC spot and margin trading pairings.
December 2, 2022 1 min read
After months of looking around at other cryptocurrency startups, including a revised bid for Voyager Digital’s assets, cryptocurrency exchange CrossTower Inc has agreed to purchase digital asset trading platform BEQUANT. Through the purchase deal signed on November 28th, CrossTower will get access to over 600 additional professional exchange clients. New
November 30, 2022 1 min read
Sam Bankman-Fried, the ex-CEO of FTX, a cryptocurrency exchange that was once valued at $26 billion, told Axios on Monday that he is now down to his final $100,000. Early in November, when word broke that the cryptocurrency exchange required a bailout, the founder saw the vast majority of his
November 30, 2022 2 mins read
Sony, a Japanese electronics titan, is making a new gamble in the Metaverse with its newest product. Sony has introduced a new line of wearable motion trackers that can be used in conjunction with smartphones to access the Metaverse. These movement sensors are compatible with both Android and iOS devices.
November 29, 2022 2 mins read
Fidelity Investments has reportedly launched crypto trading accounts for consumers, after the introduction of a waiting list earlier this month. Even if the FTX fall has coincided with widespread uncertainty, the Fidelity development may be an indication of stability. An email sent out to users today began with the phrase
November 29, 2022 2 mins read
Bitcoin (BTC) and Ethereum (ETH) are not considered securities, according to the Financial Services and Markets Authority (FSMA) in Belgium. Regulatory organizations all over the globe are attempting to define the emergent asset class. But thus yet, only a few of them have been successful. It’s worth noting that the
November 28, 2022 2 mins read
The Bahamian government has criticized new FTX CEO John J. Ray III for his role in imposing restrictions on the corporation. The battle to decide what to do with FTX’s broken enterprise has recently intensified. The Attorney General of the Bahamas, Ryan Pinder, said on November 27 that FTX CEO
November 28, 2022 2 mins read