Business Financial News
09.01 / 23:03
business
Binance
Bankruptcy
Voyager tells court Binance acquisition plan is ‘sound business judgment,’ urgently needed
Bankrupt crypto brokerage Voyager Digital filed documents in United States court Jan. 8 in response to objections raised to the Binance US proposal to buy out its debt. Voyager announced it had approved the offer Dec. 19. The Securities and Exchange Commission (SEC), four states, the U.S. Trustee and Alameda Research filed objections to it.
09.01 / 22:49
business
Huobi Korea seeks to split from parent company, change its name: Report
Local media reported Jan. 9 that cryptocurrency exchange Huobi Korea is preparing to purchase its shares from Huobi Global and change its name. About 72% of shares in Huobi Korea are owned by Huobi Global cofounder Leon Li. Huobi Korean chairman Cho Kook-bong would take over Li’s share in the Korean company. Cho is also the owner of a major crypto mining operation in the country, according to local outlet News1.
09.01 / 20:09
business
Adoption
coinbase
Kraken
Crypto layoffs mount as exchanges continue to be ravaged by the prevailing bear market
There’s no denying that the crypto market has been gripped by immense bearish pressure over the past year, as made evident by the fact that the total capitalization of this sector has continued to hover below the $900 billion mark for most of the year after having scaled up to an all-time high of $3 trillion in 2021.
09.01 / 20:09
business
Investments
Asset management
crypto asset manager
asset manager
Crypto asset manager Osprey Funds lays off most of its staff: Report
Digital asset manager Osprey Funds has reportedly laid off most of its staff since the summer, underscoring the ongoing operational challenges posed by crypto’s enduring bear market.
09.01 / 17:05
business
Adoption
Banks
exits
New York-based bank exits crypto after tumultuous year
The last year proved to be another turbulent year for the crypto industry. From a lasting market downturn and exploits in decentralized finance (DeFi) to the FTX scandal, no area was left unscathed.
09.01 / 16:33
business
Blockchain
Deaths
Crypto billionaires' subsequent deaths spark wild theories among the community
The death of four crypto billionaires within a month has caught the crypto community's attention. These deaths occurred under suspicious circumstances, and more importantly, some of these billionaires have raised alarms about being in danger.
09.01 / 09:27
business
regulation
Bitcoin
Swyftx
week
Swyftx to chop its 'Earn' program this week, citing murky regulations
Australian crypto exchange Swyftx is set to shutter its crypto-interest product this week, citing a “constantly changing regulatory landscape” for crypto products in the country.
09.01 / 08:53
business
FTX
FTX spent $40M on food, flights, and hotels in just 9 months: Court filings
FTX’s Bahamian company spent a staggering amount of money on luxury hotels and accommodation, flights, and food just nine months before the exchange’s collapse, court filings revealed.
08.01 / 20:07
business
Department Of Justice
Gemini
investigation
Digital Currency Group under investigation by U.S. authorities: Report
Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice's Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report.
08.01 / 12:33
business
Blockchain
Investments
Wyre imposes up to a 90% withdrawal limit for all users
Crypto payment platform Wyre modified its withdrawal policy to limit users from cashing out up to 90% of their assets just days after two former employees allegedly hinted the possibility of a shutdown.
08.01 / 09:11
business
Adoption
Sport
FTX
Ferrari cuts ties with crypto sponsor ahead of 2023 Formula One season
Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-year partnership deals with Velas Blockchain and chip manufacturing giant Snapdragon, resulting in a cumulative $55 million loss for the Italian team ahead of the 2023 season.
08.01 / 01:19
business
FTX
Bankruptcy
FTX asset sales challenged by U.S. Trustee: Report
Bankrupt crypto exchange FTX's plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters.
07.01 / 22:21
business
Binance
investigation
Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds: Report
United States prosecutors are investigating hedge funds' relationships with cryptocurrency exchange Binance for money-laundering violations.
07.01 / 20:05
business
Donations
FTX
Bankruptcy
Fried
Sam
Sam Bankman-Fried's charitable donations sought by FTX: Report
FTX's new management is seeking to recover millions of dollars in donations made by the crypto exchange and its former CEO Sam Bankman-Fried, reports the Wall Street Journal.
07.01 / 18:07
business
Blockchain
Adoption
Using blockchain technology to combat retail theft
The retail industry is one of the most important sectors of the United States economy. Unfortunately, the COVID-19 pandemic has left the trillion-dollar retail sector vulnerable to in-store theft.
07.01 / 11:19
business
Adoption
Report
Survey
Metaverse to possibly create $5T in value by 2030: McKinsey report
While the 2022 bear market grazed off the excitement around the budding crypto sub-ecosystems such as nonfungible tokens (NFTs), the Metaverse remains well-positioned for long-term disruption. Considering the myriad consumer and business-centric use cases the metaverse could cater to, a McKinsey & Company report highlights the technology’s potential to generate up to $5 trillion in value by 2030.
07.01 / 08:09
business
Hollywood
NFT
partnership
Bluechip NFT project Moonbirds signs with Hollywood talent agents UTA
The NFT-focused company was founded by early-stage Facebook and Twitter investor Kevin Rose, and designer Justin Mezzell in February 2022. The company also has the Proof Collective and Oddities NFT collections in its catalog.
07.01 / 06:09
business
Art
Artists
Marketplace
SuperRare cuts 30% of staff as growth slows during crypto winter
Non-fungible token (NFT) marketplace SuperRare has announced a 30% staff-member cut as CEO John Crain explained that the firm mistakenly over-hired during the last bull market.
07.01 / 03:01
business
Blockchain
MasterCard
Mastercard partners with Polygon to launch Web3 musician accelerator program
Global payments giant Mastercard is ramping up its exposure blockchain tech yet again, after announcing a Polygon-based accelerator program to help musicians build their careers via Web3.
07.01 / 01:41
business
Investments
Venture Capital
boost
FTX collapse may boost 'further trust' in crypto ecosystem — Nomura exec
The winds of crypto winter may be still blowing, but it doesn't seem to be stopping venture capital firms from piling into cryptocurrencies. In fact, recent events influenced by the bear market, such as the collapse of FTX, could bring "further trust into the ecosystem," according to Jez Mohideen, co-founder and CEO at Laser Digital, the recently launched digital assets arm of the Asian giant Nomura Holdings.
07.01 / 00:39
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