City Arrow Financial News

05.09 / 21:47

business Digital Currency Group Bankruptcy spot trading US-based Genesis Global Trading will eliminate its crypto spot trading service

Genesis Global Trading (GGT) will close down its cryptocurrency spot trading service on Sept. 18, according to press reports. GGT is affiliated with the Digital Currency Group (DCG), but it was not affected when the parent company’s crypto lender, Genesis Global Capital, declared bankruptcy in January.

04.09 / 16:57

Government regulation Asia Former MAS chair who called crypto 'highly risky' wins Singapore's presidential race

Tharman Shanmugaratnam, former chair of the Monetary Authority of Singapore, has won the election for the city-state’s presidency with more than 70% of the vote.

30.08 / 17:11

Dogecoin Provident Gemini Bitcoin court approval BlockFi Seeks Court Approval to Convert Users’ “Trade-Only” Wallet Assets to Withdrawable Stablecoins

Bankrupt crypto lender BlockFi has filed a motion for order in the US bankruptcy court for the District of New Jersey, seeking permission to convert "trade-only" wallet assets into stablecoins, “that wallet users could then withdraw.”

30.08 / 12:43

regulation FTX Court BlockFi asks court for permission to convert trade-only assets into stablecoins

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

23.08 / 09:57

FTX BlockFi Three Arrows Capital BlockFi Challenges FTX, Three Arrows in Legal Dispute Over Repayments

Bankrupt crypto lender BlockFiis trying to block efforts from FTX and Three Arrows Capital (3AC) to recover billions of dollars transacted between the firms before they collapsed last year.

23.08 / 02:17

business Adoption regulation Investments lending Loans Bankruptcy BlockFi argues FTX, Three Arrows Capital isn't entitled to repayments

Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors.

16.08 / 17:31

Action FLEX Dubai Fines Co-Founders of Failed Three Arrows Capital Over New Exchange OPNX

Dubai’s Virtual Assets Regulatory Authority (VARA) has slapped failed 3AC co-founders with a massive $2.7 million fine against their new crypto project OPNX.

16.08 / 17:31

FIVE COMPOSITE FDIC's Annual Risk Report Embraces Crypto as a Significant Banking Concern

Crypto assets present “novel and complex risks” to the banking sector that are “difficult to fully assess,” according to the Federal Deposit Insurance Corporation (FDIC)’s 2023 Risk Review for the banking sector.

16.08 / 13:15

Blockchain regulation 3AC founders fined by Dubai regulator over OPNX exchange

The founders of the collapsed digital asset hedge fund Three Arrows Capital (3AC) Kyle Davies and Su Zhu are now facing a fine issued by Dubai’s dedicated crypto regulator over the OPNX exchange.

16.08 / 12:27

Three Arrows Capital 3AC Singapore Court to Adjudicate DeFiance Capital's $140 Million Dispute with 3AC Liquidators

A judge in Singapore has decided that a $140 million legal dispute between bankrupt crypto hedge fund Three Arrows Capital’s (3AC) liquidators and investment firm DeFiance Capital will be heard in the city-state, against the will of the liquidators.

15.08 / 18:17

regulation coinbase Crypto Adoption Coinbase Exchange Launches Stand with Crypto Alliance, an Independent Pro-Crypto Advocacy Group

Coinbase has announced the launch of a crypto advocacy group tasked with promoting the interests of the crypto community.

14.08 / 18:53

business Media Digital Currency Group Editorial stake CoinDesk to lay off part of editorial staff in preparation for sale of stake: Report

CoinDesk is reportedly planning layoffs in its editorial department ahead of the sale of a stake in the publication to investors, according to media reports.

14.08 / 01:21

Legal Bankruptcy Three Arrows Capital 3AC Legal Twist: Three Arrows Capital Co-Founder's Citizenship Renunciation Disrupts Court's Jurisdiction in Bankruptcy Case

In the bankruptcy case of Three Arrows Capital (3AC), a crypto hedge fund that ceased operations, a judge has rejected a request to hold co-founder Kyle Davies in contempt of Court and impose sanctions.

11.08 / 21:53

Law regulation Court Asset management Bankruptcy 3AC co-founder avoids contempt charges following evidence of Singaporean citizenship

A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt of court and imposed sanctions.

11.08 / 17:27

Gemini FTX genesis DCG DCG and Barry Silbert Seek Dismissal of Lawsuit by Gemini Trust Company Over Alleged Misrepresentations

Digital Currency Group (DCG) has filed a motion to dismiss Gemini's lawsuit, claiming fraud by the company and its founder, Barry Silbert, through DCG's subsidiary, Genesis, which held funds for Gemini's Earn program.

10.08 / 20:51

Law regulation Gemini Court Digital Currency Group Digital Currency Group files motion to dismiss Gemini lawsuit, claiming it’s a PR campaign

Venture capital firm Digital Currency Group (DCG) has filed a motion to dismiss a lawsuit brought by cryptocurrency exchange Gemini that alleged fraud related to its Earn program.

07.08 / 10:37

Hodlnaut Crypto Exchange OPNX Crypto Exchange OPNX Bids to Take Over Hodlnaut in Singapore: Capital Injection of $30 Million Expected

OPNX, a digital asset exchange created by the founders of failed hedge fund Three Arrows Capital, has proposed a takeover of the struggling crypto lender Hodlnaut.

06.08 / 16:51

business defi Bankruptcy OPNX exchange bids for crypto lender Hodlnaut in Singapore: Report

Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company.

06.08 / 09:33

regulation coinbase Crypto Exchange Drop reports Coinbase Reports Significant Drop in Consumer Trading Volume Raising Concerns for Crypto Industry

Coinbase has reported a significant drop in consumer trading volume, which has raised concerns for the crypto industry.

05.08 / 17:57

business Digital Currency Group Bankruptcy New York AG probes transactions at Genesis, ties with Barry Silbert: Report

Digital Currency Group (DCG) is now under scrutiny for its financial transactions involving its subsidiary, Genesis Global Capital. The investigation is reportedly being conducted by New York Attorney General Letitia James, Bloomberg reported, citing sources familiar with the matter.

04.08 / 22:15

markets Technology Investments Analysis Venture Capital Opinion end The absurd AI mania is coming to an end

Venture capital interest in cryptocurrency has decreased significantly since the bull run of 2021. At $2.3 trillion in market capitalization, every VC wanted a piece of the industry.

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