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Prime Trust Crypto Custodian Enters Chapter 11 Bankruptcy Amid Prolonged Crypto Winter
16.8.2023
On Monday, Las Vegas cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection, marking another setback for the troubled fintech company.
In the August 15th filing, the company stated that it has 25,000 to 50,000 creditors and expects liabilities of $100 million to $500...
Michael Burry Bets $1.6 Billion Against Market: ‘Big Short’ Investor Takes Bearish Stance on S&P 500 and Nasdaq
15.8.2023
In filings with securities authorities released on Monday, renowned hedge fund manager Michael Burry, whose exploits were famously captured in the film “The Big Short,” took a bearish stance on the market. Burry’s Scion Asset Management shorted the S&P 500 and Nasdaq 100...
From Crypto Custodian to Court: Prime Trust Files for Bankruptcy Protection
15.8.2023
In the wake of financial upheavals and regulatory hurdles, Prime Trust, a digital currency custodian, has formally sought Chapter 11 bankruptcy protection. This move closely follows the appointment of John Guedry as the company’s overseer, bolstered by a designated committee to steer...
Prime Trust bankruptcy spotted by crypto community months ahead
15.8.2023
Months before Prime Trust filed for Chapter 11 bankruptcy, online sleuths in the crypto community were on the case and continue to follow the money
Crypto custodian Prime Trust files for Chapter 11 bankruptcy
15.8.2023
The crypto custodian's bankruptcy comes as it's been unable to honor customer withdrawals for months
DCG and Barry Silbert Seek Dismissal of Lawsuit by Gemini Trust Company Over Alleged Misrepresentations
11.8.2023
Digital Currency Group (DCG) has filed a motion to dismiss Gemini's lawsuit, claiming fraud by the company and its founder, Barry Silbert, through DCG's subsidiary, Genesis, which held funds for Gemini's Earn program.
On July 7, Gemini and its founders, Cameron, and Tyler Winklevoss, filed...
Struggling Crypto Custodian Prime Trust Looks Poised for Potentially Massive Layoffs, Sources Say
11.8.2023
Nevada regulators recently ordered the crypto company, which BitGo had planned to buy, to cease operations and noted a shortfall in customer funds
Bitcoin Network’s Inherent Properties Can Be Leveraged to ‘Enhance the Security of PoS Chains’ — Babylon Chain CTO
11.8.2023
Fisher Yu, the co-founder and chief technology officer (CTO) at the bitcoin staking protocol Babylon Chain, has argued that when staking bitcoin, stakers “do not need to trust or give their bitcoins to any third parties.” According to Yu, such an attribute helps to “eliminate...
Digital Currency Group Strikes Back: Motion to Dismiss Gemini’s Lawsuit Filed
11.8.2023
Digital Currency Group (DCG) has filed a motion to dismiss the lawsuit brought against them by Gemini Trust Company, LLC. The motion, filed in the Southern District of New York, argues that Gemini’s allegations of fraudulent misrepresentations related to the Gemini Earn program are without...
Telegram trading bots are hot, but don’t trust them for custody — Security firms
11.8.2023
There are still too many unknowns over how various Telegram trading bots store private keys, blockchain security firms told Cointelegraph
Only 6 out of 45 crypto wallet brands have undergone penetration testing: Report
9.8.2023
Cybersecurity certification platform CER said the vast majority of wallets do not hire outside experts to perform penetration tests
Bitcoin, Ethereum Technical Analysis: BTC Surges Above $30,000, as Moody’s Downgrades 10 US Banks
9.8.2023
Bitcoin moved above $30,000 late on Tuesday, as markets reacted to the news that rating agency Moody’s had downgraded several U.S. banks. The list includes State Street, Northern Trust, and Bank of New York Mellon. Ethereum was marginally higher. Bitcoin Bitcoin (BTC) briefly rose back above...
Paypal USD: Boon for Ethereum but not decentralization, says community
8.8.2023
Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC
Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD
7.8.2023
Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD...
Ensuring integrity of blockchain transactions: Trust through audits
4.8.2023
Reliable auditing procedures are important for ensuring the integrity of blockchain networks
Binance Boosts First Digital's Stablecoin With Zero Fees to Buy and Sell Bitcoin, Ether
3.8.2023
The crypto exchange listed the Hong Kong-regulated First Digital's FDUSD stablecoin last week
Hex Trust acquires DASP registration in France
3.8.2023
Hex Trust, which is a prime digital asset custodian, has acquired for itself the Digital Asset Service Provider (DASP) license in France. This has come through the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the two regulatory bodies....
Crypto Custodian Hex Trust Expands European Foray With Registration in France
2.8.2023
The registration, which follows last year's approval in Italy, is "a significant milestone" for its European expansion plans, Hex Trust said
Best Crypto to Buy Now 1 August – Trust Wallet, Rocket Pool, Immutable X
2.8.2023
Despite recent changes to macroeconomic policies, analysts warn that Bitcoin could still plummet to $25,000.
Data shows that the 50-day EMA has been persisting as resistance for the past week with Bitcoin having no significant changes to the upside.
Given these challenges, what are the best...
FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust
1.8.2023
In the midst of the bankruptcy proceedings, FTX presented its primary reorganization strategy and term sheet to the U.S. bankruptcy court, detailing an ambitious plan to reinvent FTX as an “offshore crypto exchange” while also founding a new limited liability trust. At this time, the proposed...