Business Financial News

07.01 / 00:39

business FTX Bankruptcy FTX, Bahamian FTX DM reach agreement on info sharing, disposition of property, assets

The FTX Debtors, made up of FTX and its affiliated debtors, and FTX Digital Markets (FTX DM), the Bahamian subsidiary of FTX, announced Jan. 6 that they have reached a cooperation agreement regarding the FTX Debtors’ Chapter 11 bankruptcy case in Delaware and the provisional liquidation of FTX DM in the Bahamas.

06.01 / 23:31

business FTX Digital Currency Group Crypto Biz: SBF has his day in court; Barry Silbert accused of ‘stalling’ over frozen funds

After Sam Bankman-Fried was handed over to United States officials last month, his top lieutenants — Caroline Ellison and Gary Wang — had already been cooperating with the feds. The two pleaded guilty to a slew of charges and agreed to assist the Southern District of New York to investigate FTX and their former boss. SBF had his day in court on Jan. 3 and pled not guilty to all criminal charges.

06.01 / 23:31

markets business Blockchain Investments Huobi net outflows crossed over 60M within the past 24 hours: Report

Cryptocurrency exchange Huobi has seen over $94.2 million dollars in net outflows within the past week. Within the past 24 hours alone, approximately $60 million has flowed out of the exchange, according to crypto analytics company Nansen.

06.01 / 20:05

business Blockchain Technology banking Marathon Marathon Digital experiments with overclocking to increase competitive advantage

One of the largest Bitcoin mining operations in North America, Marathon Digital Holdings, has shared in an update that it has been experimenting with overclocking to increase its competitive advantage in the Bitcoin mining industry.

06.01 / 19:23

business Binance sanctions compliance Binance joins association to address compliance with global sanctions

Binance has become one of the first crypto firms to join the Association of Certified Sanctions Specialists, ACSS, in an effort to stay in compliance with global sanctions.

06.01 / 19:13

business Blockchain Adoption Future AIM services Crypto Companies Crypto companies aim to build trust within future products and services

The cryptocurrency ecosystem underwent a turbulent year in 2022. Criticism inside and outside of the crypto industry was fueled following the collapse of FTX, Celsius, Three Arrows Capital and the Terra ecosystem.

06.01 / 19:13

business Twitter Investments Holdings Fidelity downsizes value of its Twitter holdings

Investment firm Fidelity has written down the value of its initial stake in Twitter following its funding of Elon Musk’s takeover of the social media platform.

06.01 / 16:59

business Investments coinbase Bitcoin Coinbase stock Cathie Wood’s ARK enters 2023 with $5.7M Coinbase stock purchase

Cathie Wood, veteran investor and CEO of ARK Invest, remains bullish on the cryptocurrency industry and centralized exchanges (CEX) despite the bear market and the crypto crisis.

06.01 / 14:49

business exchanges Mt. Gox Bitcoin Mt.Gox repayment registration deadline moved to March 2023

Mt. Gox creditors will have more time to decide on which repayment method they want to be paid in and register their payee information at the defunct crypto exchange.

06.01 / 13:41

business Huobi Job Bitcoin Huobi confirms 20% layoffs, denies insolvency rumors

Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm.

06.01 / 12:31

business Blockchain wallet MetaMask reports MetaMask removes Wyre from aggregators amid shutdown reports

Crypto wallet MetaMask is ending support for services of Wyre crypto payment platform amid reports of Wyre planning to shut down operations soon.

06.01 / 09:49

business Huobi exchanges Future Doubts mount over Huobi’s future as harsh layoff rumors denied

Speculation on Twitter that crypto exchange Huobi has laid off staff and shuttered internal communications have prompted the community to advise users to withdraw funds, despite an adviser to the exchange denying the rumors.

06.01 / 09:49

business Adoption Venture Capital Rocky 2023 could be a rocky year for crypto venture investments: Galaxy Research

Last year was a big one for crypto venture capital despite multiple high-profile meltdowns and the FUD (fear, uncertainty, and doubt) tsunami that followed. However, the funds may not flow as easily this year, a crypto researcher warns.

06.01 / 06:41

business virtual reality interview Why isn't there a VR client yet for Decentraland or The Sandbox?

The Metaverse and Virtual Reality (VR) go hand in hand in the public’s imagination and platforms including Somnium Space, Crypto Voxels, and Meta’s Horizon Worlds already support the technology.

06.01 / 01:23

business CME Metaverse CME Group to launch 3 metaverse reference rates

Derivatives marketplace CME Group is planning to launch reference rates and real-time indexes for three metaverse crypto assets, allowing investors to track pricing data more reliably using a methodology commonly used in traditional finance.

06.01 / 00:31

business lending Crypto lender Genesis Crypto lender Genesis lays off 30% more staff: Report

Crypto lending platform Genesis Global Trading has reportedly cut 30% of its workforce in the second round of layouts in six months.

06.01 / 00:31

business Blockchain Technology Defi Security DeFi security losses rose 47.4% in 2022 to hit $3.64B: Report

According to a Jan. 5 report published by Chinese blockchain security firm LianAn Technology, decentralized finance (DeFi) exploits across blockchains worldwide totaled $3.64 billion in 2022. This represented a rise of 47.4% compared with the loss of $2.44 billion in 2021. The incidents increased in quantity despite a steep 80% loss in the total value locked in DeFi during the year.

05.01 / 20:13

business Blockchain Adoption Fashion Redeeming physical NFTs: Easier said than done?

Despite the crypto winter, nonfungible tokens (NFTs) continue to draw interest. This has become apparent as many brands and retailers have started to offer digital NFTs attached to physical products. Known as “phygitals,” these offerings allow real-world products to be tied to digital NFTs.

05.01 / 20:13

business Blockchain Twitter Three Arrows Capital founders subpoenaed on Twitter

Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies were subpoenaed on Twitter on Jan. 5, after the liquidators granted permission from Singapore authorities following a United States bankruptcy court order, according to information given to Cointelegraph by advisory firm Teneo.

05.01 / 16:43

business regulation Court Lawyer Fried Sam FTX's former top lawyer cooperated with the US in Sam Bankman-Fried case

Daniel Friedberg, controversial lawyer who served as top compliance chief at now-defunkt exchange FTX, has reportedly cooperated with United States’ prosecutors investigating FTX collapse.

05.01 / 12:03

business CBDC Adoption Bank of England Bank of England answers professionals' questions about upcoming CBDC wallet

Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof of concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions.

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