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On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has … Read more
The troubled and now-bankrupt crypto exchange FTX is the subject of “an active and ongoing investigation,” Bahamian attorney general Ryan Pinder told the press on Sunday. Pinder also stressed that putting the blame on the Bahamas “because FTX is headquartered here would be a gross oversimplification of reality.” Bahamian Attorney General Says the ‘Bahamas Will … Read more
Its been 16 days since FTX filed for Chapter 11 bankruptcy protection in the U.S. and the former FTX CEO Sam Bankman-Fried (SBF) is allegedly still hunkering down at his seaside resort in the Bahamas. This weekend, the Youtuber known as Bitboy decided to fly down to Nassau in order to question SBF about the … Read more
On Saturday, members of the forum r/cryptocurrency discussed how the current bear market is now the second-longest bear market in the history of bitcoin prices. According to the forum post, the current crypto winter has lasted more than 380 days, just below the longest bitcoin downturn that took place during the 2013-2015 bear market, which … Read more
After the Salvadoran president Nayib Bukele revealed the country would buy a single bitcoin every day, a report published by Torres Legal details that the government of El Salvador has created a National Bitcoin Office (ONBTC). The report says the entity was created via Decree No. 49, which was signed by Bukele and El Salvador’s … Read more
Following the FTX collapse and amid the aftermath, people have been wondering about the company’s Crypto Bahamas conference that was scheduled to happen on April 17-20, 2023, at the exclusive Grand Hyatt Baha Mar, in Nassau. The event planned for April 2023 was supposed to be hosted by the now-bankrupt FTX and the Skybridge Capital-backed … Read more
Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company already secured commitments from investors for roughly $50 million, which would give Matrixport a post-valuation of $1.5 billion. Matrixport Looks to Raise $100 Million From Strategic Investors The digital asset firm and … Read more
On Nov. 25, the largest cryptocurrency exchange in terms of daily trade volume, Binance, published its bitcoin proof-of-reserves (POR) system using The Merkle approach. At the time of writing, the snapshot provided by Binance shows the firm’s onchain reserves equate to 582,485 bitcoin, while the company’s customer net balance is roughly 575,742 bitcoin. Binance’s Bitcoin … Read more
After the FTX collapse, the story seems as though it came from a financial thriller based on fiction and made-up characters. However, the story and the people behind it are very real and today’s streaming giants like Amazon, Apple, and Netflix are vying to get the rights to tell the FTX tale. ‘Multiple’ Film Adaptations … Read more
After Grayscale Investments shared information concerning the company’s product holdings, people questioned why the firm wouldn’t share the public addresses associated with the crypto assets it holds. However, on Nov. 23, OXT researcher Ergo published a Twitter thread featuring onchain forensics that confirm Coinbase Custody holds a balance of 633K bitcoin that likely belongs to … Read more