Business Financial News

12.01 / 08:33

business Law Bankruptcy Uphold exchange denies owing millions to failed crypto lender Cred

Crypto exchange Uphold has denied owing around $784 million to the liquidation trust of bankrupt crypto investment platform Cred.

12.01 / 05:23

business regulation Court Bankruptcy safe Customers FTX customers are safe from being doxxed, for now

The names of up to nine million FTX customers are set to remain confidential for at least three more months following the latest ruling in FTX bankruptcy proceedings.

12.01 / 01:51

business FTX Bankruptcy Miami-Dade gains right to remove FTX name from Heat arena

Miami-Dade County will soon start to remove FTX's advertising brand from the NBA’s Miami Heat arena, after granting the right from a United States bankruptcy judge in Delaware on Jan. 11, the Associated Press reports.

12.01 / 01:51

business Southern Nov banking Time Silvergate hit with another class-action suit, this time for securities law violations

A class-action suit was filed against Silvergate Capital, operator of the Silvergate Exchange Network and parent company of Silvergate Bank, in United States District Court of Southern California on Jan. 10. The suit was filed on the behalf of all purchasers of Silvergate securities between November 9, 2021, and January 5, 2023, claiming violations of the Securities Exchange Act of 1934.

12.01 / 01:51

business Bitcoin Bitcoin Price Bitcoin Miner Bitcoin miner Northern Data says production increased by 315% Y/Y in 2022

Northern Data AG, a German company that specializes in Bitcoin mining and cloud computing, released its December 2022 results for its mining division.

12.01 / 01:51

business Blockchain Ethereum avalanche Ava Labs Ava Labs partners with AWS to offer one-click node deployment

Ava Labs, developer of the Avalanche network (AVAX), has partnered with Amazon Web Services (AWS) to implement new features intended to make running a node easier, according to a January 11 blog post from Ava Labs.

11.01 / 23:49

business CBDC Central Bank China's central bank includes digital yuan in report on currency circulation

The People’s Bank of China, or PBoC, has begun including the country’s central bank digital currency, the e-CNY, in reports measuring the amount of currency in circulation.

11.01 / 22:19

business Blockchain Low Huobi delists 33 tokens in one day citing trading risk, low volume

According to a Jan. 11 announcement, cryptocurrency exchange Huobi said that it would delist 33 tokens consisting of tickers ABT, ATP, APN, AST,DIE, DHT, DFA, EDEN, GEAR, HC, INDI, IOI, INV, IRIS, GCOIN, GOF, KMA, MTA, NAS, OPUL, PEARL, PRIMATE, QASH, SMT, SLC, SKU, SOC, STC, TALK, VALUE, WHALE, WILD and YAM. Effective Jan. 16, the aforementioned tokens will cease trading and be delisted permanently. In explaining the decision, Huobi wrote that most of the tokens violated Section 17, Rule 1, and Section 17, Rule 2, of the Huobi Token Management Rules, which states:

11.01 / 20:37

business Binance services approved Customers Binance approved to offer crypto services to Swedish customers

The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted the local arm of crypto exchange Binance approval to manage and trade digital currencies.

11.01 / 19:17

business Bankruptcy hedge fund creditors Three Arrows Capital creditors express frustration with bankruptcy process during call

Kyle Davies, the co-founder of bankrupt hedge fund Three Arrows Capital (3AC), disclosed in a Twitter thread that the first meeting of 3AC creditors was held on Jan. 11. Davies invited all creditors to join the group and announced that it would meet regularly.

11.01 / 17:55

business Blockchain FTX FTX has recovered over $5B in cash and liquid crypto: Report

According to FTX attorney Andy Dietderich, the troubled cryptocurrency exchange has "recovered $5 billion in cash and liquid cryptocurrencies." However, the exchange is still "working to rebuild transaction history," and the total amount of customer shortfall is "still unclear." Speaking to a U.S. bankruptcy judge in Delaware on Wednesday, Dietderich also stated that the company plans to sell $4.6 billion worth of non-strategic investment.

11.01 / 16:23

business Gemini Bitcoin dutch Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt

Cryptocurrency exchange Bitvavo, a major creditor of the troubled crypto company Digital Currency Group (DCG), has dismissed DCG’s proposal of partial debt repayment.

11.01 / 15:41

business Blockchain Binance reserves WazirX releases proof of reserves with majority of funds in Binance wallets

After the paranoia and turmoil in the crypto industry caused by the FTX liquidity and bankruptcy scandal, major digital-asset service providers in the space began publicizing their reserve funds.

11.01 / 14:31

business coinbase Coinbase to close majority of Japan operations following global layoffs: Report

Crypto exchange Coinbase will be closing down most of its operations in Japan as part of its efforts to survive in the bear market. The move is part of the company’s restructuring plan and follows the recent layoff announcement that it was reducing its employees by 20%.

11.01 / 14:15

business Mining Bitcoin Argo Blockchain mines 25% less Bitcoin due to winter storm at Helios

Publicly-listed Bitcoin (BTC) mining company Argo Blockchain saw a significant drop in mining activity in December due to a winter storm in Texas.

11.01 / 13:41

business Huobi clarifies Korean operations: Two separate entities aiming at same market

Following the report about Huobi Korea’s planned buyout of its shares from Huobi Global, the latter revealed that the deal has already been made, and the two platforms have been operating completely separately since the Fall of 2022.

11.01 / 12:19

business regulation SEC Crypto exchange Zipmex probed by Thai SEC amid buyout

The cryptocurrency exchange Zipmex is the focus of a new probe by the Securities and Exchange Commission (SEC) of Thailand for a breach of local rules.

11.01 / 09:11

Dogecoin business Twitter NOT More details emerge on Twitter Coins — and crypto's not included

References to crypto or blockchain technology are nowhere to be found in newly leaked images concerning “Twitter Coins” — the platform’s secret in-development digital asset.

11.01 / 06:17

business Gemini Bitcoin It'll be OK: DCG crisis likely won’t ‘include a lot of selling’ — Novogratz

Galaxy Digital Holdings CEO Mike Novogratz hosed down fears over the crisis facing Digital Currency Group (DCG) and Genesis saying while it’s “not good news,” it won’t “include a lot of selling.”

11.01 / 04:29

business Binance security Court Deal National Initial approval given for Voyager and Binance.US deal amid national security probe

Bankrupt crypto lender Voyager Digital received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion amid a national security probe Voyager is seeking to speed up.

11.01 / 01:31

business Blockchain Stablecoin Fraud Albright Capital drops lawsuit against Terraform Labs and Do Kwon

Albright Capital has dropped its lawsuit against Terraform Labs and its founder Do Kwon, according to a Notice of Voluntary Dismissal filed in U.S. District Court on January 9. Before its dismissal, the lawsuit had alleged that the company had violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”) by operating the stablecoin, UST, as a “Ponzi scheme.”

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