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According to statements made by the digital asset custody business and financial services provider Bitgo, the firm has filed a lawsuit against the crypto company Galaxy Digital and is seeking damages for more than $100 million. Bitgo says Galaxy’s “improper repudiation and intentional breach of its merger agreement” caused the lawsuit. Bitgo Seeks Damages From … Read more
While Fidelity hasn’t yet confirmed rumors it will launch retail Bitcoin trading, the firm said enabling broader access to digital assets remained a key area of focus. Go to Source Powered by WPeMatico
776’s fund is called “Kryptos” and is set to capitalize on the current bear market when it launches in October. Go to Source Powered by WPeMatico
Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has officially released the intellectual property (IP) rights tied to the Cryptopunks and Meebits NFTs. The company acquired the IP rights to the NFT collections in mid-March 2022, and owners can use their NFTs for commercial or personal purposes. Yuga … Read more
Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure to deliver” audited financial statements for 2021. Galaxy Ends Deal With the Crypto Custodian Bitgo On … Read more
“Either Galaxy owes BitGo a $100 million termination fee as promised or it has been acting in bad faith and faces damages of that much or more,” said R. Brian Timmons. Go to Source Powered by WPeMatico
The now defunct and bankrupt Voyager Digital has been approved by the court to distribute $270 million in funds to creditors and affected customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements that allege Voyager is FDIC insured. The U.S. Bankruptcy Court in … Read more
During the 12 months, public companies, private companies, exchange-traded funds, and even countries have added bitcoin to their balance sheets. As of July 17, 2022, the aforementioned types of entities hold approximately 1,325,396 bitcoins worth $27.84 billion today. However, the number of coins stored in bitcoin treasuries has dropped since June 5, 2021, by approximately … Read more
Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are … Read more
“Selling a portion of our BTC holdings and daily production as a source of liquidity is the best and least expensive method in the current market environment,” said CFO Jeff Lucas. Go to Source Powered by WPeMatico
