City Arrington Financial News

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Azuro, a decentralized autonomous organization (DAO) building a protocol for blockchain-based predictions, has partnered with hyperchain Sophon to improve its prediction app development by combining technologies.

Chiliz, the owner of the blockchain sports rewards platform Socios.com, and Azuro, a liquidity layer for onchain predictions, have partnered to grow the onchain sport prediction market.

Azuro, a decentralized autonomous organization (DAO) building a protocol for blockchain-based predictions, has raised $11 million with investment from SevenX Ventures and Arrington Capital.

Web3 gaming platform Elixir Games has raised a $14 million seed funding round from Square Enix, the Solana Foundation and Shima Capital, and others.

The videogame developer Studio369’s has successfully raised $5 million in the latest funding round for its upcoming web3 MMO, MetalCore.

Cross-chain protocol Wormhole has secured a $225 million investment at a valuation of $2.5 billion.

Superstate, an innovative asset management firm, announced today the successful closure of its Series A financing round, raising $14 million. This funding will catalyze the firm's mission to offer cutting-edge investment solutions to institutional investors, while paving the way for democratizing investment opportunities through advanced blockchain tokenization.

U.S. Data Mining Group, Inc., doing business as US Bitcoin Corp (USBTC), today announced two pivotal developments: the progression of its merger with Hut 8 Mining Corp (“Hut 8”) and the court approval of the Celsius bankruptcy restructuring plan.

Crypto lender Celsius has amended its reorganization plan, opting for a singular focus on bitcoin mining instead of the initially proposed combination of mining and staking.

Bankrupt cryptocurrency lending company Celsius’ recovery plan has hit a road block with the US Securities and Exchange Commission.

Crypto lender Celsius Network received U.S. bankruptcy court approval for a restructuring plan that will return cryptocurrency to customers and create a new company owned by Celsius creditors. U.S. Bankruptcy Judge Martin Glenn in Manhattan signed off on the restructuring in an order published on Thursday. The reorganized business will be managed by Fahrenheit LLC, a consortium that includes hedge fund Arrington Capital, and it will focus on mining new bitcoin and earning «staking» fees by validating blockchain transactions. New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one month after freezing customer accounts to prevent withdrawals. Celsius, which was once valued at $3 billion, was one of the largest crypto collapses last year. The crypto lender is working to implement the plan and is expected to emerge from Chapter 11 in early 2024,according to a post on X, formerly known as Twitter.

By Dietrich Knauth

Proof Group is one of three bidders eyeing a potential acquisition of the fallen crypto exchange FTX according to multiple sources familiar with the matter.

Developers of Ethereum layer-2 nonfungible tokens (NFT) scaling solution Immutable (IMX) will delay the vesting of 125 million IMX in token rewards, worth $67 million at the time of publication, to July 2024.

During an October 2 hearing regarding the approval of its reorganization plan, the bankrupt crypto lender, Celsius Network, informed a judge of its intention to initiate repayments to its customers by the end of the year.

The creditors involved in the Celsius bankruptcy case have voted in favor of a plan that will see funds returned to them as well as distributing equity through a new company.

Bankrupt crypto lender Celsius is set to hold a vote on a plan to sell its asset to Fahrenheit Group following the approval by a judge as the proceeding winds down.

Crypto consortium Fahrenheit, which includes Arrington Capital and US Bitcoin Corp., won the bid to purchase the assets of insolvent crypto lender Celsius, court filings showed Thursday.

Two new consortiums will dispute the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York. According to reports and court filings, crypto exchanges Gemini and Coinbase are among the companies participating in the bids.