Less than a week ago, Brett Harrison, the former president of FTX US, published a 49-part Twitter thread describing his side of the story when he worked for the disgraced co-founder of FTX, Sam Bankman-Fried (SBF). On Friday, Jan. 20, 2023, Harrison revealed that his new firm, Architect, has raised $5 million from investors such […]
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 and facilitate the restructuring process.” Genesis’ Bankruptcy Filing Genesis Global Holdco LLC, a
Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit Read More »
Bitcoin crept back up to the $21,000 level on Friday, as volatility in the cryptocurrency market remained high. After falling by nearly 4% in Thursday’s session, the global market cap is up by 1.14% as of writing. This comes despite the news that crypto lender Genesis has recently filed for bankruptcy. Ethereum was also in
Bitcoin, Ethereum Technical Analysis: BTC Back Above $21,000 Despite Genesis Bankruptcy Read More »
According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills with newly designed banknotes in 2024. Preserving the Value of New
Report: Somalia to Fight Inflation and Counterfeiters With New Banknotes Read More »
A group of global banking experts hosted by the World Economic Forum (WEF) convened about the need for global crypto regulation, including stablecoins and unbacked crypto assets. The panel agreed there must be at least some kind of base regulation for these assets and bank-equivalent regulation for blockchain applications seeking to offer products similar to
Davos 2023: Banking Panel Reinforces the Need for Crypto Regulation Read More »
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 the current environment, according to the CEO Alan Lane, the
Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022 Read More »
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 Forward With Plans to Expand Operations in Poland Binance, the world’s largest digital
Binance to Increase Presence in Poland in Compliance With Local Regulations Read More »
The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the
Ripple CEO Brad Garlinghouse says that he is “optimistic” that the Securities and Exchange Commission (SEC) lawsuit over xrp “will certainly be resolved in 2023.” He added that it could even be resolved in the first half of this year. “I feel very good about where we are relative to the law and the facts,
NYU Professor Nouriel Roubini, aka Dr. Doom, has warned that “99.99% of crypto is a scam, a criminal activity, a total real-bubble Ponzi scheme that is going bust.” He advised investors to “absolutely stay away” from crypto, claiming that most people in the crypto space are “all crooks.” Dr. Doom Warns Nearly 100% of Crypto
