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FTX Debtors Sue Grayscale Investments And Its Executives

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Grayscale’s CEO as well as owners Digital Currency Group and Barry Silbert allegedly violated trust agreements, according to the lawsuit.

Alameda Research Ltd., the hedge fund belonging to disgraced ex-billionaire Sam Bankman-Fried, is suing Grayscale Investments, LLC, its CEO, Michael Sonnenshein, and its owners, Digital Currency Group and Barry Silbert as a debtor affiliate of FTX.

According to a press release announcing the lawsuit, “FTX Debtors are seeking injunctive relief to unlock $ 9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts (the “Trusts”) and realize over a quarter billion dollars in asset value for the FTX Debtors’ customers and creditors.”  Read more...

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Crypto Assets Are Not Financial Products, Aussie Executives Claim

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Crypto regulation has been receiving growing interest in different jurisdictions recently. While some countries maintain rigid digital assets control, some outrightly banned their usage. 

Currently, crypto regulation in Australia is passing through heated arguments. Some of the country’s top government officials want to classify crypto as financial products, while some crypto executives refute it.

Minister Deems Regulating Crypto As Financial Products An Argument, Why?

One Australian media, The Sydney Morning Herald (SMH), reported about the country’s take on crypto regulation. According to SMH, Stephen Jones, the Australian Assistant Treasurer and Minister for Financial Service spoke on the matter on January 22, 2023.  Read more...

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Crypto executives on JPMorgan Chase creating JPM Coin

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Crypto executives on JPMorgan Chase creating JPM Coin
JPMorgan Chase has become the first U.S. bank to create its own digital currency. Called the “JPM Coin,” the cryptocurrency is targeted at institutional investors, allowing for seamless transactions. Crypto industry executives have provided initial reactions and thoughts on what this development wil…

The post Crypto executives on JPMorgan Chase creating JPM Coin appeared first on CoinReport.

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Korean Crypto Exchange Executives Fake Trading Volumes, Earn Prison Sentences

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Two major executives of Komid, a cryptocurrency exchange platform based in South Korea, have been sentenced to prison, according to a report by local Korean news outlet Blockinpress. The two individuals were convicted of falsifying trading volumes on the exchange. Choi Hyunsuk, CEO of Komid, is one of the indicted individuals. He was given a

The post Korean Crypto Exchange Executives Fake Trading Volumes, Earn Prison Sentences appeared first on CCN

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What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?

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By CCN.com: In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities

The post What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop? appeared first on CCN

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Executives of Korean Exchange Sentenced to Jail for Faking Volumes

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Executives of Korean Exchange Sentenced to Jail for Faking Volumes

Two executives of a South Korean cryptocurrency exchange have reportedly been sentenced to jail for inflating trading volumes on their exchange. The pair allegedly used a bot to fake large orders in both cryptocurrencies and Korean won.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Prison Sentences

Two executives of South Korean cryptocurrency exchange Komid were sentenced to jail on Thursday “for their roles in orchestrating fraudulent trading volume reports on their platform,” The News Asia reported.

Executives of Korean Exchange Sentenced to Jail for Faking Volumes  Read more...

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South Korean Bitcoin Exchange Upbit Denies Fraud Allegations as Executives are Formally Charged

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South Korea’s top financial regulator has formally filed fraud charges against executives of one of the Asian country’s biggest cryptocurrency exchanges. Three senior executives of Upbit including the founder Song Chi-Hyung were charged with making fraudulent transactions between September and December last year by prosecutors in Seoul, according to nocutnews. Specifically, the senior Upbit executives

The post South Korean Bitcoin Exchange Upbit Denies Fraud Allegations as Executives are Formally Charged appeared first on CCN

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Former UBS Executives Raise $104 Million to Create Regulated Crypto Bank

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Former UBS executives raised $ 104 million to operate Seba, a strictly regulated crypto bank, with a banking license from Finma, the Swiss financial regulator. The infrastructure of the cryptocurrency exchange market is improving rapidly with Bakkt, Coinbase, and major US-based banks like Citigroup, Morgan Stanley, and Goldman Sachs that have recently released their plans to

The post Former UBS Executives Raise $ 104 Million to Create Regulated Crypto Bank appeared first on CCN

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Top Executives Leave EOS Creator Block.one Months After Raising $4 Billion

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Several early executives of Block.one, the startup behind the EOS blockchain ecosystem, have reportedly left the company just months after it closed more than $ 4 billion in total funding. These executives include David Moss, Thomas Cox, Brian Abramson and Corey J. Lederer, who were the second, third, fourth and fifth employees, respectively. After joining a year ago, the four left in […]
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A Number of Surveys Have Implied Blockchain’s Rising Popularity Within the Eyes of Global Corporate Executives.

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A number of surveys have suggested blockchain technology is becoming more and more popular within the eyes of global corporate executives.

A number of surveys have implied blockchain technology is becoming more and more popular within the eyes of global corporate executives. Recent data reveals how issues concerning trust might restrict adoption.

As the blockchain industry continues to expand, more and more companies and top executives are coming around to its merits.

Bitcoinist recently reported that 70% of executives who participated in Deloitte’s 2018 Blockchain Survey categorized themselves as “excellent,” or as “experts,” on the topic of blockchain technology.

The survey consisted of 1,053 senior executives in nations like Canada, China, France, the United Kingdom, and the United States. All respondents were working at companies with $ 500+ million in yearly revenue.  Read more...

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New Deloitte Survey Finds Over 70% of Executives Are ‘Blockchain Experts’

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New Survey: Over 70% of Executives Think They Are “Experts” on Blockchain Technology

Blockchain technology has increased in popularity during the last 18 months, mainly due to the unparalleled cryptocurrency rally at the end of 2017. A new study casts light on how industry executives see themselves in relation to experts amid this emerging tech.

“Excellent” to “Expert”

According to Deloitte’s 2018 Blockchain Survey, over 70 percent of the executives who took part see themselves as either “Excellent,” or as “Experts,” when it comes to blockchain.

The survey was held amid 1,053 senior executives in seven different countries – Canada, China, Germany, France, Mexico, United Kingdom, and the United States. All of the responders worked at companies generating $ 500 million or more in annual revenue.  Read more...

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