GK8 was put on the block following Celsius’s bankruptcy.
GK8 was put on the block following Celsius’s bankruptcy.
GK8 was put on the block following Celsius’s bankruptcy.
Sam Bankman-Fried, former CEO of crypto exchange FTX, still hasn’t finished his Twitter thread. In the bizarre posts, SBF recently wrote that his “one goal” is “to do right by customers.”
Contrary to revelations in recent days, the former FTX CEO claimed that Alameda owned more assets than liabilities M2M but not liquid, that Alameda had a margin position on FTX Intl and FTX US had enough funds to compensate all customers.
“I am doing what I can to make this happen. I am personally meeting with regulators and working with teams to do what we can for customers,” SBF wrote.
As the bitcoin price continues to struggle, investors are showing interest in buying distressed bitcoin mining assets.
Bitcoin continues trading well off its record highs as the latest bear market continues, thanks to a variety of macroeconomic shocks and strains. Bitcoin miners are especially feeling the pain of a depressed market, with hash rate climbing and hash price dropping.
Against this backdrop of doom and gloom, a growing cohort of investors are pooling capital with the intent of lending to or investing in distressed mining teams. Fresh capital injections may be just the solution to help struggling companies survive the bear market. But for others, simply throwing money at a failing venture fixes nothing. This article explores growing investor interest in distressed mining assets and discusses possible outcomes for these investments.
A leaked email reveals that Fidelity Digital Assets will offer not only Bitcoin (BTC) but also Ethereum (ETH) to its institutional clients starting October 28. The email was reportedly sent to clients.
Fidelity Digital Assets is part of one of the most well-known asset managers in the world, Fidelity Investments. The giant oversees assets under management (AUM) of more than $ 4.5 trillion.
The subsidiary has now changed its mind on Ethereum. While it said last year that demand from institutional investors was too small, Fidelity Digital Assets is now doing an u-turn.
Investors are nervous about rampant inflation prompting yet another massive rate hike by the Fed, and the economic damage that might cause. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
Speculation has been a big part of the success of crypto coins, given that a lot of investors enter the market trying to make a lot of money in a short time. This has, in turn, given rise to the success of a large number of coins that would otherwise not have found any success in the market. For investors who are looking to get in on the action, here are the top 3 speculative crypto coins that should be on your radar.
Celsius Network had filed for bankruptcy following arguably the largest network collapse in the history of crypto. The lending platform had been caught in the crossfire, and further reports showed that it had a $ 1.2 billion hole in its balance sheet. The company, which has been going through bankruptcy proceedings in the US Bankruptcy Court for the Southern District of New York, has now announced a final bid date for its assets.
Celsius Sets Deadline For Bids
India’s federal Enforcement Directorate (ED) has now unfrozen crypto exchange WazirX’s assets. Last year, ED undertook an investigation into the crypto platform as it suspected violations of foreign exchange regulations.
Following the investigation, the ED froze assets worth $ 8.16 million, or 646.70 million INR.
This is finally good news for WazirX after ED froze the exchange’s assets last month in relation to an ongoing investigation regarding malpractices related to loan apps and apps that provide short-term loans.
Around 16 fintech companies came under investigation who had used the WazirX platform.
In a blog post, the crypto exchange mentioned,
Bitcoin has been put to the extreme test during the past few weeks as this year’s cryptocurrency market crash has raised questions about the viability of the industry, with investors bearing the brunt of the collapse and market fear hitting a new high.
Fears of a worldwide recession and the highest inflation in over four decades have delivered a heavy blow to the young cryptocurrency market in 2022, spawning a brutal crypto winter that has driven once-soaring companies to shut down and investors into panic-selling.
Nearly $ 2 trillion in market value, billions of dollars in frozen assets, and thousands of jobs have been lost because of the turbulence, but these losses may only be the beginning.
Are you ready to Saddle up?
A decentralized finance platform architectured to facilitate efficient trade between pegged crypto assets is now one of the most prominent names on the Ethereum blockchain.
Saddle Finance, an automated market maker (AMM), is developing solutions to eliminate roadblocks related to the spread between stablecoins and tokenized crypto assets.
In the crosshairs of Saddle’s team of engineers and software developers is a path that distinguishes the company from its competitors and offers users distinctive and unparalleled value.
India’s Enforcement Directorate (ED) froze assets amounting to $ 46 Million belonging to Vauld which is a cryptocurrency exchange. In Vauld’s press release, the company stated that it disagreed with the claims made by ED on Vauld’s KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures.
These assets seized by the ED were found stored in bank accounts, payment gateway balances and wallets too on the Flipvolt crypto exchange. The $ 46 Million was linked to the instant loan apps case. Flipvolt is the Indian wing of the Singaporean exchange Vauld.
Per a report from news outlet Reuters, payment company Ripple is exploring the possibility of acquiring the assets of bankrupt crypto lender Celsius Network. The purchase might materialize via Ripple Labs, according to a company spokesperson.
Ripple Labs is currently in a legal battle with the U.S. Securities and Exchange Commission (SEC) due to the alleged illegal sales of an unregistered security, the XRP Ledger native token XRP. The person quoted by Reuters said the following about the potential acquisition:
We are interested in learning about Celsius and its assets, and whether any could be relevant to our business.
One of the advantages of using crypto is to ease cross-border transactions. Crypto makes the process swift, simple and affordable. Another reason to applaud crypto is the anonymity in users’ transactions.
Anyone can send money anywhere without compromising their identity. This mode of operation has been frowned at as promoting money laundering and other nefarious illegal financial activities. But even though it has disadvantages, it also helps users to simplify transactions.
Crypto has proven its worth in sending donations to Ukraine to support its efforts amid the war with Russia. There have been a lot of contributions to this country, most of which are facilitated with crypto mechanisms. However, donating to the government would not be accessible if not for the decentralized system of operations.
Sports fan engagement platform startup Fanzee is feeling richer today after securing the capital it needs to get its offering off the ground.
The startup said today it has closed on a $ 2 million pre-seed funding round led by TONcoin.fund, a $ 250 million fund for teams building in the TON blockchain ecosystem. Alongside TON.coin fund, notable investors including First Stage Labs, KuCoin Ventures, vlg.digital, Huobi incubator and Hexit.capital, a part of Swiss-based Hemma Group, also participated.
While bitcoin itself is difficult to confiscate or censor, U.K. courts have labeled bitcoin as property which aids in recovery when scammers try to cash out.
This is an opinion editorial by Matthew Green and Brian Mondoh, contributors for Bitcoin Magazine.
With all the available cryptocurrencies, including anonymity-designed bytecoin, monero and zcash, ransomware attackers continue to demand bitcoin and some reports show darknet markets are fuelled by bitcoin transactions (see pages 54 and 109 of the Chainalysis 2022 Crypto Crime Report). Seemingly, bitcoin remains one of the most valuable assets for criminals utilizing blockchain technology given its relative stability, price and relevance.
According to security information provided by CertiK, the Premint website—a well-known NFT whitelist platform—was compromised on Sunday. Losses resulting from the attack are believed to have cost about $ 375,000.
One of the biggest non-fungible token breaches of the year resulted in the theft from Premint NFT platform customers of at least 314 blockchain entries, totaling around $ 375,000.
The G20 leaders jointly issued a declaration on crypto assets at the end of their summit in Osaka, Japan. They declared their commitments, reaffirmed that crypto assets do not pose a threat to global financial stability, and requested further work done by standard-setting bodies.
The G20 leaders’ summit, the largest meeting Japan has ever hosted, wrapped up Saturday. During the two-day event, the G20 leaders and the heads of invited guest countries and international organizations met to discuss important issues including the global economy, trade and investment, innovation, digitization, and global finance. At the conclusion of the summit, the G20 leaders jointly issued a declaration which includes statements on crypto assets.
The price of bitcoin has more than tripled this year, making it one of the best performing asset classes out there. Not surprisingly, institutional investors have piled into bitcoin to take advantage of the terrific price rally and mint more money. This is evident from the latest data from bitcoin-focused investment firm Grayscale, whose total […]
The post Grayscale Hits $ 3 Billion in Crypto Assets as Bitcoin Price Rages On appeared first on CCN Markets
The Financial Action Task Force adopted its new rules on crypto assets and published its updated Guidance on Virtual Assets and Virtual Asset Service Providers Friday. Under these new measures, crypto service providers will be required to implement the same requirements as traditional financial institutions.
The Financial Action Task Force (FATF), an independent inter-governmental body that develops and promotes policies to protect the global financial system against threats such as money laundering and terrorist financing, wrapped up its Plenary Week Friday in Orlando, Florida.
ASIC, the Australian securities regulator, has updated its guidance for businesses involved with initial coin offerings and crypto assets.
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