Insolvency – DIGIT INFO

Gate.io denies liquidity problems after Multichain CEO goes missing

Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations.

Go to Source

Fed, central banks enhance ‘swap lines’ to combat banking crisis

Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic.

Go to Source

Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong anti-crypto message.” Frank, who also serves as a Signature […]

Go to Source

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch The ripple effect of the 16th largest bank in […]

Go to Source

NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]

Go to Source

Despite endless media appearances, SBF unlikely to testify on 13th

One observer suggested Bankman-Fried may be reluctant to discuss FTX due to the legal implication of lying under oath to the U.S. Congress.

Go to Source

Crypto trading firm Auros Global misses DeFi payment due to FTX contagion

Auros is an algorithmic trading and market-making firm that provides liquidity for exchanges and token projects.

Go to Source

FTX resumes employee and contractor payments after weeks in limbo

The payments will exclude former FTX CEO Sam Bankman-Fried, and certain former execs including Gary Wang, Nishad Singh, and Alameda’s Caroline Ellison.

Go to Source

CoinList addresses ‘FUD’ on withdrawals, cites technical issues for delays

CoinList blamed “custodian issues” with one suffering an outage affecting “many tokens” on the platform as the reason for reported withdrawal problems.

Go to Source

Getting funds out of FTX could take years or even decades: Lawyers

The complexities that come with digital assets, cross-border insolvency and competing jurisdictions could add years to the timeline.

Go to Source