The largest cryptocurrency exchange in the world, Binance, has announced the launch of the $1 billion Industry Recovery Initiative, which will support struggling crypto businesses. With that piece of news blowing up the crypto space, 7 additional businesses are now…
Grayscale Holds 633K Bitcoins According to An Independent Research Report
Since FTX’s demise, other exchanges and digital asset managers have been under growing pressure to show that they actually have the cash they claim to. A major black swan event would be the liquidation of GBTC’s holdings or its collapse…
Kaspersky: Crypto Scammers Will Soon Move Away From Using Bitcoin
Ransomware negotiations and payments may soon rely less on Bitcoin as a form of payment, according to cybersecurity firm Kaspersky. The company with Russian roots ascribed this shift to advancements in the technology used to track Bitcoin’s movement and suppliers,…
DeFi Platform InsurAce to Pay Out FTX Claims And Launches Crypto Deposit Insurance Scheme
Efforts continue to be made to restore investor trust in the crypto markets. DeFi insurance provider InsurAce is introducing the “Crypto Deposit Insurance Scheme,” a new crypto deposit insurance program (CDIS.) Reaction to Ailing CeFi Industry The product is being…
New York Governor Bans Crypto PoW Mining For 2 Years
On November 22, New York Governor Kathy Hochul officially enacted a two-year ban on proof-of-work (PoW) crypto mining, making it the first state in America to do so. Mining Now Restricted to Green Companies The PoW mining moratorium will not…
JPMorgan Registers Trademark For Crypto Wallet, Announces New Crypto Services For Customers
The “J.P. Morgan Wallet” has been legally registered and patented by JPMorgan with the US Patent and Trademark Office, according to a formal document released on November 21, 2022. (USPTO). JP Morgan’s Crypto Plans The legacy bank will start providing…
FTX-Owned Crypto Exchange Liquid Suspends Trading Due to Bankruptcy Proceedings
Liquid Global, a cryptocurrency exchange with headquarters in Japan that was formerly owned by the bankrupt exchange FTX, stopped all trading after being “instructed” to do so by the bankruptcy attorney’s office. Trading Stopped Indefinitely A tweet from Liquid Global’s…
Genesis Disputes “imminent” Intentions to Declare Bankruptcy.
Genesis, a cryptocurrency loan firm, has denied rumors that it is preparing to file for bankruptcy “imminently” if it is unable to meet a $1 billion shortfall brought on by the collapse of cryptocurrency exchange FTX. Company Couldn’t Raise Capital…
Billionaire TV Show Investor Vows to Retain Funds In Crypto Exchanges Despite FTX Crash
Cold storage, in Sharktank investor Kevin O’Leary’s opinion, is not an option for him or for businesses that had to maintain a particular percentage of industry exposure. The kind of liquidity they would require for the day-to-day functioning of their…
SBF’s Lawyers Terminate FTX Representation Citing Conflict Of Interest
Sam Bankman-Fried (SBF), the FTX CEO, no longer has legal representation from Paul Weiss, citing a conflict of interest. The choice to discontinue representation following SBF’s tweets was judged to obstruct the law firm’s reorganization efforts. SBF’s Cryptic Tweets Complicate…