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Following accusations from Gemini co-founder Cameron Winklevoss in an open letter to Digital Currency Group CEO Barry Silbert, a report citing “people familiar with the matter” states that federal prosecutors from New York are scrutinizing transfers between Digital Currency Group and its subsidiary, Genesis Global Capital. Report Claims Digital Currency Group, Genesis Global Capital Allegedly … Read more
FTX’s new management is seeking to recover millions of dollars donated by Future Fund and SBF. Go to Source Powered by WPeMatico
The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank. Alan Lane, the CEO of Silvergate, denied allegations that … Read more
The sides had been at odds over numerous issues and have agreed to keep working on the remaining open questions they face. Go to Source Powered by WPeMatico
According to the court filing, the number of victims in the FTX case made it “impractical” to rely on more traditional methods of notification. Go to Source Powered by WPeMatico
The founder of FTX pleaded not guilty to all criminal charges related to the collapse of crypto exchange FTX. Go to Source Powered by WPeMatico
The legal team confirmed the U.S. Departure of Justice was in the process of seizing the Robinhood shares, but said SBF was “compelled to reply” given other claims. Go to Source Powered by WPeMatico
Companies are taking new approaches to building trust within Web3 and crypto products. Go to Source Powered by WPeMatico
According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current level of $16.77 billion. Stablecoin … Read more
Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also touch on decentralized finance structures. … Read more