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Reports indicate that Sam Trabucco, the former co-CEO of the cryptocurrency trading firm Alameda Research, penned a letter to the judge set to sentence Ryan Salame, co-CEO of FTX Digital Markets. Trabucco’s letter emerged amidst numerous inquiries about his whereabouts throughout the ongoing turmoil. In his message, Trabucco referred to Salame as his “best friend” … Read more
The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all of their digital assets back in kind. The bankruptcy court is scheduled to consider Genesis’ request to approve … Read more
Deltec Bank and Trust Ltd, based in The Bahamas, stands accused of covertly extending a $2 billion line of credit to Alameda Research. A lawsuit, filed by those who claim to be victims of Sam Bankman-Fried, accused Deltec of granting a three-day grace period to Alameda Research for the settlement of purchased stablecoins. Misappropriation of … Read more
Four days ago, the American rapper, entrepreneur, and owner of Death Row Records, Snoop Dogg, hosted WWE’s annual event, Wrestlemania 39, in Hollywood. The rap star was spotted wearing a gold and black diamond Ledger Nano X around his neck on a gold chain. Over the last year, Snoop has been one of several hip-hop … Read more
Crypto hedge fund Galois Capital is shutting down after losing about half of its assets to the FTX disaster. “Given the severity of the FTX situation, we do not think it is tenable to continue operating the fund both financially and culturally,” the fund’s co-founder told investors. Crypto Hedge Fund Shuts Down Due to FTX … Read more
Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a member of the Federal Reserve System, … Read more
The collapsed crypto exchange FTX reportedly used the lure of high earnings to convince African university students to become its ambassadors. In addition to encouraging new FTX investors to use the platform, student ambassadors were also required to teach them about crypto and the blockchain. Some of the students insisted they will not quit crypto … Read more
Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain. Iris Energy Leverages $67 Million in Bitmain Prepayments for Latest Mining Expansion Bitcoin mining company, Iris Energy, announced plans […] … Read more
Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between … Read more
Following finder.com’s reports on bitcoin and ethereum predictions, the product comparison site polled 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. When regulation does occur, 76% of Finder’s … Read more
