Ex-CEO and founder of BlockFi Zac Prince has spoken out about the crypto lender’s insolvency and his future ambitions for the business and himself. Among the most noteworthy points brought up by Zac Prince was the update about the bankruptcy process’s effectiveness. His decision to be silent up to this
Creditors of the defunct FTX exchange have taken legal action by suing the law firm managing the bankruptcy case in a class-action lawsuit. Creditors of FTX claimed in a court document dated February 16 that Sullivan & Cromwell, or S&C, “actively” took part in the “FTX Group’s multibillion dollar fraud,”
British regulators have given their stamp of approval to Komainu, a cryptocurrency custody service founded by crypto investment firm CoinShares, hardware wallet manufacturer Ledger, and Japanese investment bank Nomura. On October 6th, the firm stated that it has been granted registration as a custodial wallet provider by the U.K. Financial
Pascal Gauthier, CEO of Ledger, a producer of hardware crypto wallets, has announced a 12% reduction in employees. In a blog post published on October 5th, Gauthier said that layoffs had been made “for the longevity of the business” by noting the 2022 bear market and the failure of companies
The algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, TerraUSD Classic (USTC), is on a meteoric rise today, demonstrating a tremendous upsurge of interest in the stablecoin. CMC reports a 24-hour increase in value of 20.18% for the stablecoin TerraUSD Classic, which now stands at $0.01803. The overnight purchasing momentum
FTX Japan has begun a recruitment push to grow its workforce and advance the FTX 2.0 plan. By the end of the second quarter of 2024, the FTX team hopes to have relaunched the exchange. To further the FTX 2.0 project, FTX Japan is on the lookout for fresh talent.
Bitget has launched a Crypto Loans product to enter the cryptocurrency lending sector. The platform plans to provide a crypto-based alternative financing option, as said in a statement, in an effort to win over customers who are dissatisfied with traditional financial institutions. It utilizes a dual-coin strategy to streamline the
The FDIC has warned the California-based cryptocurrency exchange OKCoin USA Inc., which is affiliated with the OKX, to avoid exploiting the FDIC’s name to strengthen its validity. The letter, sent to OKCoin’s CEO Hong Fang, raised concerns that the platform may be in breach of the FDIA’s Section 18(a)(4). Moreover,
BlockFi, a digital asset ledger obtained court permission on May 11, 2023. The permission includes giving back $297 million to users who are non-interest-bearing accounts and not to those who moved their payments just a minute ago. BlockFi has undergone bankruptcy last year and the founder credentials of the user
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
