This week, we look at Huobi (HT)’s efforts to counter bankruptcy speculation, Cathie Wood’s firm predicting a BTC ETF in 2021, and the rise of Pomerdog (POMD)’s presale. Most notable is the Pomerdoge project, which stands to disrupt the meme market with its P2E platform. Let’s break down each story.
Fears of bankruptcy and reports that Chinese authorities are investigating Huobi’s management led to $64 million in withdrawals during the weekend. Total value locked (TVL) on the exchange fell to $2.5 billion from $3.09 billion the previous month as speculations persisted. The top management of the exchange was allegedly detained
FTX, the bankrupt crypto exchange, has recently reached an agreement on principle with Genesis to resolve the claims made by both firms in an ongoing lawsuit over Chapter 11 cases. In the latest development, the crypto exchange wants to remove its Dubai unit from the legal proceedings, according to court
FTX, the leading crypto exchange, is facing issues as its former CEO, Bankman-Fried has been accused of criminal charges. In the latest development, the bankrupt crypto firms FTX and Genesis have reached an agreement in principle. It would resolve the claims made by both firms in their ongoing lawsuits over
After hearing reports of insolvency, centralized cryptocurrency exchange Gate.io has threatened legal action. Since May, members of the crypto community have speculated that the problematic cross-chain protocol Multichain may be related to Gate.io. The exchange tweeted in Turkish (translated): “Legal proceedings will be initiated against people who cause panic among
An important step has been taken in the wake of the FTX collapse with the referral of a lawsuit involving the appointment of an independent investigator to the US Third Circuit Court of Appeals by a judge in Delaware. The administration and a number of Senators first banded together to
The Bittrex Crypto Exchange officially filed for bankruptcy. This occurs just over a month after the Security Exchange Commission (SEC) charged Bittrex with repeatedly breaking security regulations. In a filing submitted on May 8 to the United States Bankruptcy Court for the District of Delaware, Bittrex reported that it has
After failing to secure funds from an unnamed investor, Australian blockchain startup Everledger has apparently filed for bankruptcy. According to the AFR on May 8, Everledger, a company that utilizes blockchain technology to trace the origin of diamonds and other items, was unable to close its most recent investment round.
Silicon Valley Bank (SVB) has declared its intention to file for bankruptcy in order to sell its assets. In an effort to protect its assets, SVB voluntarily filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York. According to the paperwork, the
Crypto lender Celsius Network has been seeking all options to increase the value of its assets and restructure its business since filing for Chapter 11 Bankruptcy on July 2023. Today the cryptocurrency lender announced that it agreed to partner with asset management NovaWulf Digital Management to recover from bankruptcy. Celsius
