dYdX, a decentralized cryptocurrency exchange, burned up $9 million of its insurance fund on November 17 to cover customer losses, prompting the exchange to announce additional procedures to reduce trading-related risks. The exchange has raised margin requirements for several tokens trading in “less liquid markets,” according to a post on
Performance Includes 176% Increase in Revenue and Operating Profit Milestone ALBANY, N.Y.–(BUSINESS WIRE)–Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing applications, reported financial results for the third quarter
Bankrupt cryptocurrency lender Genesis has taken a bold step towards streamlining its Chapter 11 reorganization. The company has asked the court for permission to drastically decrease the claim of the bankrupt hedge fund Three Arrows Capital (3AC) from over $1 billion to $33 million. The proposed resolution is an important
The insolvent cryptocurrency exchange FTX petitioned in court last Friday, November 3, to sell off crucial Trust funds worth a total of $744 million. Some of the funds are held by custodial service provider Bitwise and cryptocurrency asset management Grayscale, as shown by the filing. One Bitwise trust is holding
Defunct crypto exchange FTX has submitted a petition to the Delaware bankruptcy court for the liquidation of trust assets held by Grayscale and Bitwise estimated to be worth $744 million. Statements from FTX and its debtors indicate that they expect this approach to facilitate preparation for payments to creditors in
The crypto market has faced a challenging year so far, with bearish trends dominating the charts. Enthusiasts and traders awaited an overall green chart in the market, and today marked an eventful shift as the bulls took control, pushing Bitcoin to the $30,000 mark and ushering in double-digit surges for
A false tweet claiming the SEC approved a Spot Bitcoin ETF by BlackRock ignited a brief crypto rally and over $100 million in liquidations across exchanges on Monday. Bitcoin spiked from $27,900 to over $30,000 following the fake report, which was posted on a Twitter account impersonating Financial News London.
According to whale monitoring resource Whale Alert, an unknown wallet transferred 23.7 million Ripple (XRP) valued at $11.5 million to major Latin American exchange Bitso on Wednesday. The large transfer occurred around 7:56 PM UTC on October 11th. Notably, the whale only spent a tiny fraction of XRP, around 0.000015
On Tuesday, October 10, Caroline Ellison, formerly of the hedge fund Alameda Research and an intermittent business associate of Sam Bankman Fried (SBF), is scheduled to testify against him in his impending fraud trial. SBF is accused of engaging in high-risk trading practices and misappropriating client monies from FTX. After
In a significant setback for the U.S. Securities and Exchange Commission (SEC) in its quest to regulate the cryptocurrency market, a federal judge has rejected the SEC’s request to appeal her recent ruling involving Ripple Labs, the company behind the XRP token. District Judge Analisa Torres ruled that the SEC
