The bankruptcy hearings for FTX have the potential to turn complex, so regulators in the Bahamas want to take over. In New York bankruptcy court on Tuesday, the exchange’s Bahamian subsidiary FTX Digital Markets Ltd. filed for chapter 15. Legal counsel for the insolvency, Bahamas-based Brian Simms, said in the
Shockwaves were felt across the cryptocurrency markets, Web3, and the dapp industry with the sudden demise of the FTX exchange and all of its associated entities. From business as usual to bankruptcies and fraud probes took less than a week. The whole Web 3.0 sector saw the effects of this
In reaction to the news that exchange withdrawals were being frozen, Tether released a brief statement on November 16 stating that it has no risk to interest-bearing Gemini Earn. Or the institutional crypto lender Genesis Global. USDT was hoping to set itself apart from other crypto organizations that were experiencing
Circle, the issuer of the USDC stablecoin pegged to the US dollar, has introduced support for Apple Pay in an effort to bring the crypto and conventional payment systems closer together. In a blog post published on November 15th, Circle made the news and projected that it may increase sales
The dilemma around cryptocurrency is increasing, and the use of Central Bank Digital Currency “CBDC” is surging on more countries’ soil. To weigh this, New York has now been added to the list of the famed states that have been launching CBDCs. The Innovation Center of the Federal Reserve Bank
Given just how popular cryptocurrency trading is today, one would be forgiven for thinking that price predictions and corrections were art that could somehow be learned. Today, investors and traders make price predictions and speculations with the conviction of a scientist experimenting with the phenomena of gravity- the sure knowledge
During National Family Caregivers Month, Carefull recognizes the needs of financial caregivers with a growing product and user portfolio NEW YORK–(BUSINESS WIRE)–Carefull, the first digital platform built to protect the daily finances of older adults, today announced it has successfully analyzed and protected $2 billion of transactions from fraud and
TORONTO–(BUSINESS WIRE)–Tokens.com Corp. (NEO Exchange Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or “the Company”), a publicly-traded company that invests in web3 assets and builds businesses linked to crypto staking, the metaverse and play-to-earn gaming, today provides an update in light of recent market developments relating to FTX,
FTX has formally declared bankruptcy. Liquidity dried up, user funds were frozen, and competitor exchange Binance pulled up its non-binding deal to purchase FTX, sending the firm from a $32 billion value to insolvency in a matter of days. The processes are entirely optional for Alameda Research and the other
According to a press release on Thursday, Bahamian officials have frozen the assets of FTX Digital Markets and linked parties as a “prudent course of action” to preserve assets and stabilize the company. Brian Sims, a senior partner at Lennox Paton, was chosen by the Securities Commission of the Bahamas
