Thani Al-Zeyoudi, the UAE’s minister of state for international trade, highlighted that the country has gained a great deal of knowledge from the cryptocurrency industry and must now adopt the appropriate regulations to promote continued growth. According to Thani Al-Zeyoudi, cryptocurrency will soon play a significant role in the country’s
On January 20th, major cryptocurrency lender Genesis Global Trading became the latest firm to declare bankruptcy. In the aftermath of FTX’s demise by filing for Chapter 11 bankruptcy protection in New York. The crypto community, however, is now more concerned about other businesses that were exposed to the lending organization.
Prominent cryptocurrencies Bitcoin ($BTC) and Ethereum ($ETH) continuously signal bullish momentum even after the largest crypto lender, Genesis Global, filed for bankruptcy protection. At the time of writing, $BTC traded at $20,956, and $ETH traded at $1550 with notable price surges. Recently, failures and scandals in the cryptocurrency industry reaching
Genesis Global, a cryptocurrency lender, officially filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York on January 19. The failure of cryptocurrency exchange FTX has resulted in a slew of bankruptcies, the most recent of which being Genesis. It’s also a
Charles Hoskinson, founder of Cardano, said on Friday that he is contemplating purchasing CoinDesk in order to transform it from a cryptocurrency news website into a hybrid of sorts, bringing together news and a community forum. He thinks the asking price of $200 million is too much, despite the fact
On January 19, New Hampshire Governor Chris Sununu announced the release of the Governor’s Commission’s final report on cryptocurrencies and digital assets. The “comprehensive” and “timely” crypto report compiled the Commission’s findings and recommendations on the progress of blockchain technologies and the state’s legal stance. In the report, the Commission
Commences voluntary Chapter 11 restructuring of lending business to further advance ongoing stakeholder discussions and optimize outcome for Genesis clients and Gemini Earn users Outlines Chapter 11 plan contemplating potential sale and/or equitization transaction to enable lending business to emerge under new ownership Restructuring process led by independent special committee
Another media outlet, CoinDesk, has run into problems only hours after it was reported that DCG’s cryptocurrency trading arm, Genesis, intends to file for bankruptcy. DCG’s own media outlet has retained the services of the Lazard Group. As financial consultants in preparation for a sale. CoinDesk would be leaving Barry
Yuga Labs, the creators of the most popular BAYC & MAYC NFTs, have tagged four secondary NFT marketplaces, LooksRare, Blur, Sudoswap, and NFTX, under the “deny list” of its new NFT drop – “Sewer Pass.” This ban prevents the wallet addresses of these platforms from claiming the NFT and playing
Today the world’s second-largest cryptocurrency exchange OKX ‘OKEx’ has released a “Proof-of-Reserves” (PoR) report that reveals the detailed breakdown of the assets the exchange has in its reserves. OKX’s third monthly PoR report disclosed $7.5 billion in BTC, ETH, and USDT held by the crypto exchange, which does not include
