Crypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York.
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Crypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York.
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Despite dismissing the case, the judge acknowledged the lawsuit reflects a potentially dangerous trend of fraudulent-like promotional schemes.
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The lending firm claims it’s having “constructive conversations with creditors” and plans to resolve the situation without the need for a bankruptcy filing.
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Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX.
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Following the approval of a regulatory framework for cryptocurrencies by the South Korean government, one of the largest banks in the country is preparing to launch a range of crypto services. KB Kookmin Bank has applied for trademark registration, reportedly listing over 20 crypto services on its application. Also read: 2x Bitcoin — Wanna Double […]
The post Major South Korean Bank Prepares to Launch Crypto Services as Government Green-Lights Regulation appeared first on Bitcoin News.
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Kicking off this year’s tax filing season, the U.S. Internal Revenue Service (IRS) has published important tips for crypto owners to properly file their tax returns. This is the first time a cryptocurrency question has been included in the tax form. The IRS expects more than 150 million filers to reveal whether they acquired or […]
The post IRS Explains What Crypto Owners Must Know to File Taxes This Year appeared first on Bitcoin News.
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