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Genesis interim CEO Derar Islim has sent a second letter to clients to say the crypto lender is working on its liquidity issues resulting from the FTX collapse, but they’re not there yet. Go to Source Powered by WPeMatico
Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social … Read more
Valkyrie Investments, a Tennessee-based asset manager, has announced its intention to become the new sponsor of Grayscale’s Bitcoin Trust (GBTC). The company states that it is “uniquely qualified” for the role and plans to facilitate redemptions at net asset value (NAV) through a Regulation M filing. Valkyrie Offers to Take Over Management of Grayscale’s Bitcoin … Read more
Plaintiffs have alleged that the products have not been registered, which prevented them from receiving disclosures to better assess the risks of using Gemini Earn. Go to Source Powered by WPeMatico
The loss represents the collective personal equity of 17 people in the space, including 15 who have lost over half of their fortunes since March. Go to Source Powered by WPeMatico
Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn program’s withdrawals, Cameron Winklevoss tweeted that it has … Read more
While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month, statistics show that 14.77% of the reduction took place … Read more
Alleged reports of compromised emails began appearing as early as October. Go to Source Powered by WPeMatico
Users’ emails, account numbers, and partial phone numbers were allegedly leaked. Go to Source Powered by WPeMatico
Last year and during the first half of 2022, speculators assumed the third-largest bitcoin address was a ‘mysterious whale,’ even though the wallet had shown strong characteristics of being a cryptocurrency exchange. The address known as “1P5ZED” has since been replaced by another address, after the wallet started to transfer its entire bitcoin balance in … Read more