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Opinion: Digital Currency Group's Genesis implosion marks another bottom in trust for crypto
20.1.2023
Genesis, a subsidiary of Barry Silbert's Digital Currency Group, filed for Chapter 11 bankruptcy on Jan. 19. Its default could have big implications for the crypto industry
FTX Debtors’ List of Assets Omits Mention of Large Stash of NFTs and ENS Names Owned by Alameda
20.1.2023
This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda...
Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B
20.1.2023
The crypto finance firm filed for Chapter 11 bankruptcy yesterday, with debts around $3.5 billion
Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit
20.1.2023
Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations...
Is “The Howey Test” outdated? Modernizing regulations for the digital age
20.1.2023
The rate and reach of cryptocurrency adoption in recent years signals the dire need for modern regulation that simultaneously safeguards investors and enables innovation to flourish
Bybit CEO offers clarity on exposure to Genesis, but community demands more
20.1.2023
The community questioned Bybit’s timing in revealing their exposure now and many demanded proof to back up the reassurance from the CEO
CFTC’s opinion on the regulation of the digital assets market
20.1.2023
Following the relaunching of the Global market Advisory committee, it happens to be the Commodity Futures Trading Commission (CFTC) has decided to gather all of its attained knowledge and experience through the years and arrive at the table for discussions related to the proper ways of bringing...
Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022
20.1.2023
Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate...
Genesis Files for Bankruptcy as it Seeks Protection From its Creditors – Which DCG Unit is Next to Fail?
20.1.2023
After months of struggling, crypto lending and trading firm Genesis has filed for bankruptcy - but it's not the end of its troubles.
Genesis, a unit of the Digital Currency Group (DCG), said in a press release that Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis...
Binance to Increase Presence in Poland in Compliance With Local Regulations
20.1.2023
Binance has unveiled intentions to broaden its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent and launch educational initiatives. Crypto Exchange Binance Moves...
China’s digital yuan gets smart contract functionality alongside new use cases
20.1.2023
China's central bank digital currency (CBDC) has seen new use cases in recent days, including buying securities and making offline payments
CPCoin (CPC) Is Now Available for Trading on LBank Exchange
20.1.2023
PRESS RELEASE. INTERNET CITY, DUBAI, Jan 19, 2023 – LBank Exchange, a global digital asset trading platform, has listed CPCoin (CPC) on January 19, 2023. For all users of LBank Exchange, the CPC/USDT trading pair is now officially available for trading. CryptoPerformance is disrupting...
China Launches Smart Contract Functionality on Digital Yuan Through E-Commerce App Meituan
19.1.2023
Through the smart contract, users can win part of a daily prize of $1,312 for using the digital yuan
City of Busan to establish digital assets exchange: Report
19.1.2023
The Busan Digital Asset Exchange Establishment Promotion Committee said it plans to create a functional exchange by the end of the year
New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over
19.1.2023
Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he...
Sports NFT Firm Candy Digital Raised Over $38M Amid Founder Strife
19.1.2023
An SEC filing reveals the offering weeks after reports that Fanatics would unload its 60% stake
FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings
19.1.2023
Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid...
Former Gagosian Head of Digital Builds Generative Art Gallery Tonic.xyz
19.1.2023
The gallery, which will help artists mint their works on-chain, will also seek to onboard the fine art world to the Web3 space through merging the physical and digital worlds
Ukraine to Be Best Crypto Jurisdiction With New Tax Rules, Digital Minister Says in Davos
19.1.2023
Ukraine will become the world’s best jurisdiction for crypto assets, the minister overseeing the country’s digital transformation promised. Speaking with media at the World Economic Forum in Davos, Mykhailo Fedorov praised the support from the crypto community for his war-struck nation. Crypto...
East African Community to Decide on Regional Central Bank Launch in 2023
19.1.2023
The East African Community (EAC) will decide during the course of the year 2023 when and where it will locate the envisioned regional central bank, the regional intergovernmental organization’s Peter Mathuki has reportedly said. The setting up of the regional central bank is expected to help...