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Bitcoin proponent and author Jeff Booth is convinced that the crypto ecosystem will eventually collapse as a consequence of its centralization — except Bitcoin, that is. Go to Source Powered by WPeMatico
On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has … Read more
The fall of FTX appears to have brought back certain crypto “villains” out from hiding, one even wants to start a new podcast series. Go to Source Powered by WPeMatico
The Bitcoin miner warned its cash reserves may be depleted by the end of 2022 or sooner as it cuts back on spending, including not making loan repayments. Go to Source Powered by WPeMatico
The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11. Go to Source Powered by WPeMatico
Despite the recent collapse and the exchange filing for bankruptcy protection, crypto traders are still paying more than a U.S. dollar for FTX’s FTT token on Friday, Nov. 18, 2022. FTT was once a top-30 crypto asset, and now the token has no rank on specific coin market aggregation sites due to locked FTT tokens … Read more
Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational. DCG-Owned Genesis Halts Lending Unit’s Redemptions and New Loans On Nov. 16, 2022, Coindesk reporter Nelson … Read more
On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning Sam Bankman-Fried’s (SBF) quantitative cryptocurrency trading firm Alameda Research shed … Read more
The Federal judge overseeing the Celsius case has asked for an investigation to look into whether the firm acted like a Ponzi scheme and has asked for additional details before approving a $3 million bonus scheme. Go to Source Powered by WPeMatico
According to a report, the embattled crypto lender Hodlnaut saw a significant loss from the Terra blockchain collapse last May. The report notes that Hodlnaut downplayed the company’s exposure to the Terra ecosystem and allegedly lost $190 million from the incident. Report Says Hodlnaut Downplayed Terra Exposure Following the Collapse More than 1,000 deleted documents … Read more
