In the latest twist of the high-stakes legal battle, Sam Bankman-Fried, the founder of the now-defunct FTX cryptocurrency exchange, is resorting to an unconventional strategy. According to recent court filings, Bankman-Fried requests access to documents from the legal advisory firm that once served his platform. Specifically, the former crypto CEO
After collapsing in December with debts of more than $50 million, Australian crypto exchange TrigonX is the latest comeback story to emerge from the FTX failure. The Australian reported on May 29 that TrigonX director Matteo Salerno said the crypto exchange will be revived once a deed of company arrangement
The cryptocurrency exchanges’ Ether reserves have hit a five-year low. The current number of ETH on exchanges, 17.8 million, is the most it’s been since July of 2016, according statistics from Glassnode. As of September 2022, the number of Ethereum tokens available on trading platforms has begun to decrease. The
Digital Currency Group (DCG), a venture capital firm, has decided to shut down its main brokerage subsidiary TradeBlock due to the general economic climate and the ambiguity surrounding crypto regulation in the United States. Led by Breanne Madigan, TradeBlock will reportedly begin winding down operations on May 31st. A company
The past week has been a rough ride for the crypto industry, with a series of unfortunate events leading to significant setbacks for some of the most prominent players in the market. From regulatory crackdowns to legal battles and price drops, here’s a roundup of what went down. Binance Shuts
After closing in March, Silvergate Capital, a cryptocurrency-friendly bank that served industry giants like Coinbase and Gemini, is continuing to wind down. On Thursday, the company announced it would be laying off 230 workers, leaving only a core group of 80 to oversee the liquidation. A rough year for Silvergate
Binance, the largest crypto exchange in the world, will oversee the performance of “no-progress projects” (high-volatility digital tokens) before directly delisting them. Today, Binance CEO Changpeng Zhao, CZ, tweeted that the exchange will move the no-progress cryptocurrencies to Innovation Zone and monitor the performance of the token. Binance may delist
Due to the failure to reach acquisition agreements with Binance and FTX.US, Voyager Digital plans to self-liquidate its assets and cease operations. The exchange’s unexpected insolvency and the following arrest of its CEO, Sam Bankman-Fried, caused the aborted FTX-Voyager purchase to fall through. Although the digital asset market has been
DUBLIN–(BUSINESS WIRE)–The “Europe Blockchain and Cryptocurrency Market 2023” report has been added to ResearchAndMarkets.com’s offering. Digital asset use and adoption is gradually increasing throughout Europe In the UK a low percentage of surveyed respondents claimed to own cryptocurrency as of March 2022, while also revealing a large gender gap in
On Wednesday, Circle CEO Jeremy Allaire blamed the continued decline in the value of the USD Coin (USDC) stablecoin on the regulatory burden and the efforts of authorities to discredit the cryptocurrency market. Allaire said investors are trying to “de-risk out of the US” because of the ambiguity of US
