Bitcoin accumulation hits decade high among ‘Shark’ cohort
Quick Take The digital asset market is witnessing an accelerated phase of Bitcoin (BTC) accumulation across two distinct cohorts: Shrimps and Sharks. The “Shrimp cohort” refers to retail investors holding less than one Bitcoin who have traditionally increased their holdings…
Atlas Navi’s Drive2Earn 2.0 offers big discounts on petrol prices
Bucharest, Romania, 28 March 2024: Atlas Navi, a trailblazer in AI-powered navigation, has unveiled Drive2Earn 2.0 — enhancing rewards for drivers as it sets its sights on overtaking Tesla as a market leader in capturing and analyzing vast quantities of…
Sell-side risk ratio hit 3-year high as Bitcoin broke above $73k
The Bitcoin sell-side risk ratio is calculated by dividing the sum of all profits and losses realized on-chain by the realized capitalization, offering a comparative view of daily investor activity against the total market capitalization adjusted for real-time inflows and…
Binance ends Tron USDC support as it faces blockade in the Philippines
Crypto exchange Binance said it would end support for Tron network-based USD Coin (USDC) stablecoins by April 5, according to a March 25 statement, following recent news Circle is pulling out of the Tron blockchain entirely. Consequently, Binance users have…
Bitcoin ETFs become hottest product in BlackRock, Fidelity’s repertoire of funds
BlackRock and Fidelity Investment’s spot Bitcoin ETFs — IBIT and FBTC — have become the most popular funds the two asset managers currently offer in less than 50 days of trading, based on data shared by Bloomberg ETF analyst Eric…
Anthropic founders block Saudi Arabia from buying FTX-owned stake
AI firm Anthropic has blocked Saudi Arabia from engaging in the sale process of 8% of its shares — currently owned by defunct crypto exchange FTX, CNBC reported on March 22, citing people familiar with the matter. FTX is selling…
Funding isn’t the core solution to bridging the gender gap in Web3
Web3 has always felt like an inclusive and empowering community to be a part of. In making the transition from traditional finance to DeFi, there has been no lack of support, encouragement, and guidance. Embodying a leadership role as a…
Solana CEO Anatoly Yakovenko denounces influx of racist and offensive memecoins
Members of the Solana community and the crypto ecosystem denounced the recent surge in inflammatory memecoins on March 22. Unknown parties recently took advantage of Solana’s token creation feature to introduce thousands of memecoins with racist and antisemitic terminology in…
North Korean Lazarus group funnels over $100 million in Ethereum through sanctioned mixer Tornado Cash in 8 days
North Korea-backed Lazarus group has stepped up their use of sanctioned crypto mixer Tornado Cash, moving over $100 million worth of Ethereum through the platform in the past week. According to blockchain security firm PeckShield, addresses linked to the exploiters of…
UN adopts global AI resolution to ensure ‘safe, secure and trustworthy’ AI advancement
The United Nations General Assembly adopted a global artificial intelligence (AI) resolution on March 21. The new resolution aims to promote “safe, secure, and trustworthy” AI development. The Assembly said it is paramount that AI is developed in a sustainable…
Kenya and US crypto groups unite in demand for release of detained Binance execs in Nigeria
Notable pro-crypto pressure groups in Kenya and the United States have demanded the release of Binance executives held by the Nigerian government since Feb. 26. Last month, two Binance executives—Tigran Gambaryan and Nadeem Anjarwalla—traveled to Nigeria to address the ongoing…
What’s pushing down Bitcoin’s hodler balances?
Glassnode’s hodler net position change metric offers a granular view into the behavior of Bitcoin’s long-term investors. The metric is calculated by tracking the inflows and outflows from wallets categorized as holders — or those who have been “holding on…
Sybil attack concerns spark controversy for EtherFi airdropped ETHFI token
Liquid restaking platform EtherFi’s ETHFI token has faced considerable struggles since its airdrop, partly due to one of its early investors selling their airdropped tokens. Blockchain analytical firm Nansen reported how Arrington XRP Capital, one of EtherFi’s investors, allegedly may have…
Solana drops over 15% in a single day, giving up entirety of weekly gains
Solana (SOL) fell 15.9% on March 19 to a five-day low of $166 after a week-long rally that briefly took it close to $210 as it a new all-time high market cap of around $92 billion. As of press time,…
Binance co-founder Changpeng Zhao to launch Giggle Academy amid legal woes
Changpeng Zhao, the embattled co-founder of Binance, wants to launch a non-profit educational platform called Giggle Academy. Zhao had earlier hinted about the project in a cryptic March 18 post on X (formerly Twitter), where he wrote: “Launching a new…
SEC chair Gensler condemns ‘AI washing’ after regulatory action against 2 companies
US SEC chair Gary Gensler condemned “AI washing” or the abuse of artificial intelligence (AI) and said such activities “may violate the securities laws.” Gensler made the statements on March 18 in tandem with lawsuits and regulatory action by the…
I was wrong. Why I changed my opinion on Bitcoin in 2024.
If you’re a keen reader of CryptoSlate, you may have noticed that our editorial style avoids referring to Bitcoin as ‘crypto.’ This isn’t accidental, and the choice was not pedantic. We believe that Bitcoin stands apart from other digital assets…
Most volatile weekend in a year as Solana dominates yet Bitcoin recovers
Bitcoin had the most volatile weekend in a year as Bitcoin slipped as low as $64,550 after reaching a new all-time high of $72.760 on Thursday, March 14. As of press time, Bitcoin has recovered to trade around $68,300. However,…
Web3 growth in the East
Over the years, the Asia Pacific region (APAC) has established itself as an impressive environment for the rapidly growing technology industry. From the bustling tech hub of Singapore to the financial might of Hong Kong, the flourishing Web3 community in…
How AI and crypto are shaping the future of finance
Over the last three years, the crypto space has undergone massive upheavals. Alongside the boosting from stimulus packages in 2021, venture capital (VC) firms had invested $33 billion in crypto and blockchain startups. The following year, the Federal Reserve triggered…
Grayscale amends Ethereum ETF filing, says investors ‘want and deserve’ the fund
Grayscale amended a regulatory filing through which it intends to convert its Ethereum Trust to a spot exchange-traded fund (ETF). The company’s March 15 amendment strengthens its earlier filing in multiple ways. The update supports the argument that surveillance sharing…
US senators push SEC to reject other crypto ETF proposals, casting doubt on Ethereum ETF approval chances
The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. In the March 11 letter to…
EU launches inquiry into how tech giants are dealing with risks posed by AI
The European Commission has initiated a comprehensive inquiry into the risks posed by generative AI technology on some of the world’s largest online platforms and search engines. The March 14 request targets eight online services: Google Search, Microsoft Bing, Facebook,…
Blobs successfully slash layer-2 fees as Ethereum Dencun upgrade aims to increase adoption
Transaction fees across various Ethereum layer-2 networks, such as Base, StarkNet, and Optimism, have seen significant reductions following the implementation of the Dencun upgrade. Yesterday, the Dencun upgrade went live after months of anticipation within the crypto community. The upgrade,…
OKX secures key payment license in ‘priority market’ Singapore
The Monetary Authority of Singapore (MAS) has granted in-principle approval to the Singapore subsidiary of OKX exchange, permitting it to function as a payments Institution, according to a Mar. 12 statement. With this Major Payments Institution (MPI) license, OKX gains…
President Bukele champions El Salvador’s multiple Bitcoin revenue streams
Nayyib Bukele, the President of El Salvador, revealed that the Central American nation generates multiple Bitcoin revenues from various channels alongside its BTC holdings. In a Mar 11. post on social media platform X (formerly Twitter), the president outlined four…
Saylor says Bitcoin will ‘eat gold’ in the coming months
MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way. The MicroStrategy chair made the statement during a CNBC interview on March 11, where he…
A Closer Look at Recent Market Activity
Recent data on Bitcoin liquidations and leverage levels indicates unique price discovery activity as longs and shorts have been swept from the market. Much of the leveraged positions were shaken out last week as Bitcoin saw volatile price actions around…
Cathie Wood sees Bitcoin at $1 million sooner than 2030 after record ETF performance
ARK Invest CEO Cathie Wood recently declared that Bitcoin (BTC) will surpass the $1 million mark well before the anticipated year of 2030, which was her firm’s previous bull-case timeline. This updated price target comes as a result of new…
How Bitcoin’s road to new ATH was reflected in on-chain data
The post How Bitcoin’s road to new ATH was reflected in on-chain data appeared first on CryptoSlate.
Interoperability needs its ERC-20 moment
Undoubtedly, one of the prerequisites for the mass adoption of blockchain technology is secure and seamless cross-chain interoperability. Many potential applications, particularly in complex and regulated sectors, simply can not be deployed without common guidelines and interface definitions. Without these,…
AI crypto market cap doubles to $25 billion in 20 days
The AI blockchain sector’s combined market cap has more than doubled to $25.1 billion in less than a month as the world remains engrossed in developments in AI technology, according to CryptoSlate data. Overall, the market has increased roughly 150%…
Bitcoin’s 195% gain overshadows the tech sector’s ‘Magnificent 7’
Quick Take Comparing the performance of the ‘Magnificent 7’ tech stocks—Nvidia, Meta, Microsoft, Amazon, Google, Tesla, and Apple—to Bitcoin shows that the coveted group of assets is seeing significant competition from Bitcoin. A one-year comparison reveals Bitcoin’s superior performance, posting…
Gary Gensler compares Bitcoin’s latest all-time high to a ‘roller coaster ride’
SEC chair Gary Gensler cautioned investors to carefully consider the merits of each project after the market experienced extreme volatility following Bitcoin’s ascent to a new all-time high. Gensler made the statements during an interview with Bloomberg on March 6…
SEC uses insider trading judgment to enhance case against Coinbase, Binance
The US Securities and Exchange Commission (SEC) wants to leverage a decision from an insider trading case to strengthen its lawsuit against several crypto trading platforms, including Coinbase and Binance.US, according to recent court filings. SEC claims ‘insider trading’ case…
Bitcoin and gold are becoming increasingly correlated in conservative investment strategies
In a striking turn of financial events, gold and Bitcoin (BTC) have both soared to record-breaking highs, signaling a shift in investor sentiment that appears to diverge from traditional expectations related to monetary policy and interest rate cuts. Analyst Noelle…
MicroStrategy launches $600 million notes offering to fuel Bitcoin acquisition as stock surges
MicroStrategy announced plans to offer $600 million in convertible senior notes due 2030 to fund further acquisitions of Bitcoin after its stock price surged 20% in the early hours of trading on March 4. The private offering is aimed at…
Hong Kong regulators warn of increasing crypto exchange impersonation scams
Hong Kong’s Securities and Futures Commission (SFC) has warned the public against suspicious websites impersonating the two licensed crypto exchanges in the city-state, according to a Mar. 4 notice. According to the notice, several sites impersonating the image and branding…
Bitcoin consolidating above $62k as bull market indicators start flashing
The crypto market has entered March with its foot firmly on the accelerator despite showing signs of a slight slowdown from its recent rapid ascent. Bitcoin (BTC) has continued to hover around the $62,000 mark, showcasing a resilient stance amid…
Crypto losses hit $67 million in February, pushing yearly losses to $200 million – Immunefi
Crypto industry losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, according to Immunefi’s latest crypto losses report. Meanwhile, the remaining 2.46% of the funds stolen were lost due to fraud….
Consensys CEO believes decentralization will lead to a ‘generational paradigm shift’
Consensys CEO and Ethereum co-founder Joseph Lubin said the world is on the cusp of a generational paradigm shift fueled by decentralization as the current monetary system of the world is failing. He made the statements during a fireside talk…
Biden administration’s notorious Bitcoin mining survey halted after legal backlash
The US Energy Information Administration (EIA) agreed to stop the emergency survey of Bitcoin miners as part of an agreement to end the lawsuit filed by several industry players, including the Texas Blockchain Council. According to the March 1 court…
Grayscale CEO says there is ‘insatiable demand’ for spot Bitcoin ETFs
Grayscale CEO Michael Sonnenshein said the financial industry has “never seen such insatiable demand for an ETF wrapper” as it has seen with Bitcoin ETFs. Sonnenshein made the statement during a CNBC interview on March 1, where he shared his…
Over $3 billion in crypto tokens set to unlock this March, with Arbitrum ‘massive’ unlock
A total of 32 crypto projects are scheduled to unlock more than $3 billion worth of tokens into circulation this March, according to Token Unlocks data. Arbitrum dominates, doubles supply Arbitrum leads this month’s token unlocks, marking a significant milestone…
Grayscale lobbying for regulatory approval of options for spot Bitcoin ETFs
Grayscale is lobbying for the US SEC to approve options on its spot Bitcoin exchange-traded fund (ETF), Reuters reported on Feb. 29. Grayscale CEO Michael Sonnenshein said: “It is vital to the interests of GBTC and all spot Bitcoin [exchange-traded…
Bitcoin eyes six-month winning streak amid $300 million in BTC liquidations
Quick Take In a wild 24-hour ride, Bitcoin’s value underwent a rollercoaster of fluctuations, skyrocketing to a peak of $64,000, subsequently plunging to $59,000, before making a recovery to above $60,000. BTCUSD Bitstamp: (Source: Trading View) This climb triggered a…
Gemini agrees to return $1.1 billion to Earn customers as part of NYDFS settlement
The New York State Department of Financial Services (NYDFS) reached a settlement agreement with Winklevoss-owned crypto exchange Gemini. The NYDFS announced the settlement in a press release published on Feb. 28. The regulator said that Gemini failed to protect its…
Sam Bankman-Fried lawyers decry proposed 100 year sentence as ‘barbaric,’ seeks 78 months
Sam Bankman-Fried, the founder of the now-defunct FTX exchange, is pushing for a lighter prison term, aiming for 78 months or less, according to a Feb. 27 court filing. Bankman-Fried’s legal team, led by Marc Mukasey, criticized the Pre-sentence Investigation…
Bitfinex hacker testifies in Bitcoin Fog trial as government witness
Convicted Bitfinex hacker Ilya Lichtenstein has become a key government witness in a jury trial involving the alleged operator of crypto mixer Bitcoin Fog Roman Sterlingov, Bloomberg News reported on Feb. 27. US prosecutors arrested and charged Sterlingov in April…
HTX reenters race for Hong Kong crypto license days after withdrawing initial bid
Justin Sun-related crypto exchange HTX, formerly Huobi, has resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong. This move comes after it was reported to have withdrawn its initial application, according to a notice on…
Bitcoin reclaims $54k two years after painful crash at the start of winter
Bitcoin (BTC) surged 6% on Feb. 26 to a new two-year high of $54,910 after US markets began trading, an indication of rising interest in the flagship crypto from retail and institutional investors. Bitcoin was trading at roughly $54,650 as…
Hackers exploit MicroStrategy social media to orchestrate $440,000 phishing heist
MicroStrategy’s official X (formerly Twitter) account was hacked and used to promote a fake airdrop of an Ethereum-based MSTR token during the early hours of today, Feb. 26. Blockchain security firm PeckShield quickly warned that the offending post contained a…
The economic implications of the Fed’s reverse repo (RRP) facility
The post The economic implications of the Fed’s reverse repo (RRP) facility appeared first on CryptoSlate.
Bitcoin network congestion eases as mempool clears in February
Bitcoin’s mempool is a holding area for transactions broadcast to the network but not yet included in a block. Analyzing the mempool provides insight into network congestion, transaction demand, and fee trends, offering a unique vantage point on the state…
Cosmos co-founder says GovGen will show how governance can be used in blockchain development
In November 2023, the Cosmos Hub community approved the contentious proposal 848, which reduced the maximum inflation rate of the native token ATOM to 10% from 20%. At the time, ATOM’s actual inflation rate stood at 14%. The proposal was…
What is the role of spot Bitcoin ETFs in modern investment portfolios?
Aligned within a year of its three halving events, Bitcoin had three major bull runs in its 15-year history. After each one, in 2013, 2017 and 2021, Bitcoin price typically drops significantly until the next one. However, the post-Bitcoin ETF…
FTX secures court approval to sell 8% Anthropic stake
Defunct crypto exchange FTX has secured court approval to sell its stake in artificial intelligence (AI) startup Anthropic Holdings, potentially adding over $1 billion to its assets earmarked for repaying creditors. Delaware Bankruptcy Court Judge John Dorsey handed down the…
Optimizing customer onboarding and KYC processes with Checkin.com’s AI and data-driven UX modules
In virtually any industry, from traditional retail to cutting-edge technology, the significance of customer onboarding remains a constant and critical factor in shaping the trajectory of a business. It’s the handshake, the warm welcome, and the guiding light that ushers…
Congressman Emmer raises concerns over Biden administration’s “information collection regime” targeting BTC miners
House Majority Whip Tom Emmer warned on Feb. 22 that government agencies under the Biden administration are beginning to collect data on Bitcoin mining firms. In a letter to the Office of Management and Budget (OMB), Emmer acknowledged that the…
Coinbase backs Grayscale’s Ethereum ETF bid, spotlighting ETH as a commodity
Coinbase has endorsed Grayscale’s bid to convert its Ethereum (ETH) Trust into an exchange-traded fund (ETF) in a Feb. 21 letter addressed to the Securities and Exchange Commission (SEC). Coinbase’s chief legal officer, Paul Grewal, said the exchange’s letter provided…
Top SEC crypto lawyer leaves to join pro-crypto firm, regulator facing new lawsuit
A key member of the US Securities and Exchange Commission’s (SEC) legal team, Ladan Stewart, stepped down from her role at the agency to join a pro-crypto law firm, Bloomberg Law reported on Feb. 21. Stewart, who served as Regional…
Coinbase International Exchange hits $1 billion in daily trading volume
Coinbase’s non-US exchange saw over $1 billion in daily trading volume on Feb. 20. Coinbase International Exchange wrote: “In the last 24 hours [our] perpetual futures surpassed $1 billion in notional contract volume traded.” Coinbase CEO Brian Armstrong commented that…
Approximately $1 Billion in liquidations positioned above $52,400
Quick Take Recent data identified by HODL15Capital shows a shorting trend in the Bitcoin market, with leveraged positions potentially leading to approximately $1 billion of liquidations between the $52,400 and $53,000 mark. As Bitcoin stabilizes around $52,000, the Binance BTC/USDT…
South Korea’s ruling party proposes delay in crypto taxation as election pledge
In a strategic move ahead of the upcoming general elections, South Korea’s ruling party, the People Power Party (PPP), has announced plans to push for a further two-year delay in the implementation of crypto taxation, local media reported Feb. 19….
FTX secretly used Deltec Bank to create and sell Tether for profit, lawsuit alleges
FTX companies created and profited from Tether through an arrangement with a partner bank, according to a court case described by Bloomberg on Feb. 17. The case quoted Caroline Ellison, former CEO of Alameda Research, as stating: “Alameda could create…
Retail investors are easing back into crypto while VC funding rises for first time in 1.5 years
Bitcoin prices climbed nearly 70% in the fourth quarter of 2023 and the crypto market has been rebounding, marking the re-entry of small retail investors. However, retail investors, who lost billions of dollars in the 2022 market crash, are moving…
Notes from Davos: 10 things you should know about AI
The following is a guest post from John deVadoss. Davos in January 2024 was about one theme – AI. Vendors were hawking AI; sovereign states were touting their AI infrastructure; intergovernmental organizations were deliberating over AI’s regulatory implications; corporate chieftains…
How the US threatens crypto’s core values
As investors lick their moistened chops for the coming Bitcoin ETF, just to have their Bitcoin ironically held by Goldman Sachs and JPMorgan, and Sen. Elizabeth Warren’s war on self-custody rages on, the US Bitcoin industry is looking down the…
Spot Bitcoin ETFs reach $37B in AUM, roughly one-third of gold ETF assets
US-based spot Bitcoin ETFs have accumulated close to $37 billion in assets under management (AUM) within the first 25 days of trading, according to market data. Incidentally, the total AUM of Bitcoin ETFs is a sizeable fraction of the overall…
Revolut to launch new crypto exchange amidst reports of listing Solana’s BONK memecoin
UK-based digital bank Revolut is preparing to introduce more extensive crypto exchange services, according to a report from Coindesk on Feb. 16. That report cites an email to a UK customer describing a “new crypto exchange, built with advanced traders…
Avalanche blockchain plays key role in Citigroup’s tokenization success story
US banking giant Citigroup has released a comprehensive report detailing the successful integration of Distributed Ledger Technology (DLT) into the private market sector through fund tokenization on the Avalanche blockchain network. According to the report, DLT offers a “significant opportunity”…
BlackRock and Fidelity lead as Bitcoin ETFs capture $340 million in a single day
Quick Take Feb. 14 proved to be another day of impressive inflows for Bitcoin ETFs, recording a net increase of $340 million, according to BitMEX Research. BitMEX data shows that BlackRock IBIT leads the charge with a significant influx of $224…
Genesis secures court approval to sell GBTC shares worth $1.3 billion
Genesis Global has secured approval from a bankruptcy court to sell approximately 35 million shares of the Grayscale Bitcoin Trust (GBTC), valued at over $1.3 billion, Bloomberg News reported Feb. 14. The decision, delivered by Judge Sean Lane, allows Genesis…
Bitcoin’s risk-adjusted return potential skyrockets as Sharpe Signal surges
On Jan. 26, Glassnode’s Sharpe Signal hit its lowest level since March 2020. It dropped to 0.2531 from a high of 0.7042 on Jan. 10. However, by Feb. 11, as Bitcoin’s price crossed $48,000, the Sharpe Signal increased to 0.7371. Graph…
ENS considering $300k settlement over eth.link litigation
ENS Labs has shared a $300,000 settlement offer from Manifold Finance to resolve a contentious dispute over the eth.link domain name with the decentralized autonomous organization (DAO) governing the platform. The settlement offer includes confidentiality and non-disparagement clauses, according to…
Philippines to launch CBDC within 2 years to counter rising crypto use
The Philippines central bank, or Bangko Sentral ng Pilipinas, is preparing to launch a Central Bank Digital Currency (CBDC) in the next two years to counter the rising use of crypto in the country, according to local media reports. Central…
Korean watchdog to ban crypto exchanges that fail to meet stringent new regulatory standards
The Korea Financial Intelligence Unit (KoFIU) announced a sweeping plan to enhance supervision of the crypto industry, which includes expelling crypto exchanges that fail to meet stringent operational standards, according to local media reports on Feb. 12. The initiative is…
Bitcoin ETFs witness explosive $542 million inflow in a single day
Quick Take Data compiled by Farside Investors shows that on Feb. 9, the net inflow surged to reach $542 million. BlackRock IBIT accounted for approximately just under half of these net inflows with a staggering $251 million, pushing their total…
NYAG raises DCG, Genesis lawsuit to $3B amid conflicting settlement reports
The New York Attorney General’s Office (NYAG) raised its fraud claims against Digital Currency Group (DCG) and related parties on Feb. 9. The NYAG’s lawsuit originally alleged over $1 billion in losses; however, it has been amended to include another…
Next stage of web3 evolution will be underpinned by zero knowledge tech
While the blockchain industry has correctly pointed out key issues in the worlds of legacy tech, finance, art, and culture, the revolution promised is yet to materialize, with the tools being designed to address those challenges are not yet at…
OpenAI’s Sam Altman seeking $7 trillion to solve the global chip shortage issue
Tech entrepreneur Sam Altman is reportedly looking to raise between $5 trillion and $7 trillion to help fund the production of microchips to increase availability for AI and machine learning, the Wall Street Journal reported on Feb. 8. The funding…
Hong Kong authorities issue public alert about fraudulent crypto exchange masquerading as MEXC Global
Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have jointly issued a public warning against an entity masquerading as crypto exchange MEXC Global. The scammers are reportedly pretending to be a legitimate virtual asset trading platform (VATP)…
Bakkt says it is ‘confident’ about continuing operations after disclosing liquidity issues in SEC filing
Bakkt Holdings said in a press release on Feb. 8 that it is “confident” it will continue operating despite expressing concerns earlier over its liquidity in a regulatory filing. Bakkt wrote that “management remains confident” and intends to continue serving…
US Treasury report finds crypto use in illicit financial activity remains small but growing fraction of total flows
The U.S. Treasury Department said on Feb. 8 that its latest risk assessments show that virtual assets currently represent a small fraction of total money laundering flows compared to fiat currencies; however, they are becoming an increasing concern for regulatory…
BIS raises concerns over future of metaverses, advocates for strong public policy framework
The Bank for International Settlements (BIS) has issued a stark warning about the potential for fragmentation and the risk of dominance by private firms within the nascent metaverse, emphasizing the crucial role of public policies in safeguarding this digital ecosystem’s…
Prosecutors raise concerns over lawyers defending SBF, Mashinsky
U.S. prosecutors have requested a special hearing to delve into potential conflicts of interest involving lawyers representing two notable figures in the crypto world: Sam Bankman-Fried (SBF), the former CEO of FTX, and Alex Mashinsky, the former head of Celsius…
Bitcoin options show long-term bullishness and near-term pessimism
Bitcoin options data, particularly open interest and strike prices, is crucial for understanding the market’s expectations for future price movements. Options are financial derivatives that give the buyer the right, but not the obligation, to buy (call option) or sell…
Genesis’ bankruptcy plan faces pushback from parent company DCG over creditor payouts
Digital Currency Group (DCG), the parent company of the defunct crypto lender Genesis, has filed an objection against the approval of its subsidiary’s bankruptcy plan, which was created via a “clandestine approach.” In a Feb. 5 court filing, DCG argued…
How ETFs affected Bitcoin’s supply distribution across cohorts
There has been a significant shift in the distribution of Bitcoin supply since the beginning of the year. While the distribution of Bitcoin holdings is a regular occurrence and follows market cycles, the launch of spot Bitcoin ETFs in the…
South Korea proposes stricter screening of crypto executives
The South Korean Financial Services Commission (FSC) has announced significant legislative amendments aimed at tightening regulations surrounding virtual asset business operators, specifically focusing on the accountability and duties of crypto executives. The partial amendment to the Enforcement Decree of the Act…
FTX files motion to offload $1.4 billion stake in AI startup Anthropic
Defunct cryptocurrency exchange FTX has filed a motion seeking court permission to divest its 8% stake in artificial intelligence company Anthropic Holdings. The move is a key component of FTX’s comprehensive plan to liquidate holdings and marshal resources aimed at…
Trump calls CDBCs “very dangerous” and labels the power of AI “scary”
Former President Donald Trump expressed significant concerns about central bank digital currencies (CBDCs) and advancements in artificial intelligence (AI) during an interview on Fox’s Sunday Morning Futures. With the Republican Party potentially nominating him for the 2024 presidential election, Trump’s…
Crypto scams in 2024: A turn for the better or calm before the storm?
In January 2024 alone, cryptocurrency projects lost $127 million due to hacking and fraud – six times more than in January 2023 and three times more than last December. In the meantime, losses in the crypto industry from breaches in…
Why governments should regulate stablecoins instead of developing CBDCs
The post Why governments should regulate stablecoins instead of developing CBDCs appeared first on CryptoSlate.
Super Bowl won’t feature crypto ads in 2024, but two AI ads are planned
This year’s Super Bowl will most likely exclude cryptocurrency-related advertisements, CNN reported on Feb. 2. Paul Hardart, a clinical professor of marketing for New York University’s Stern School of Business, said audiences will likely see a “notable shift away” from…
CoinStats introduces AI-driven Exit Strategy feature to maximize crypto profits
Crypto portfolio app CoinStats has unveiled an innovative artificial intelligence (AI)-powered Exit Strategy feature on its platform, empowering traders to optimize their profits effectively, according to a Feb. 2 statement shared with CryptoSlate. The feature would allow crypto investors to…
Whales and institutions lead the charge in Bitcoin’s exchange volume surge
As Bitcoin’s short stint below $40,000 caused quite a stir in the market, one could expect that its recovery to $42,000 would have caused a spike in retail trading activity. With short-term holders making up the majority of what we call…
Polygon Labs announces 19% reduction in staff to streamline operations
Polygon Labs has announced a 19% reduction in its workforce, impacting 60 employees across various departments. The decision, announced by CEO Marc Boiron in an internal memo on Feb. 1, is part of the company’s broader strategy to realign its…
Google allows spot Bitcoin ETF ads; BlackRock, VanEck among sponsored links
Google has begun to permit advertisements featuring U.S. spot cryptocurrency exchange-traded funds (ETFs) as of Jan. 29. The company’s restricted financial products policy page now reads: “Google allows ads promoting cryptocurrency coin trusts targeting the United States, as long as…
Is the Bitcoin Power Law model more realistic than Stock-to-Flow?
Since finance YouTuber Andrei Jikh recently covered the so-called Bitcoin Power Model, there has been a notable debate within the Bitcoin community around its viability. Jikh opened his video entitled “2024 Bitcoin Price Prediction (CRAZY!)” by stating, “Today I want to…
Marathon vs Riot: Analyzing the true cost of mining 1 bitcoin
Bitcoin mining is the cornerstone of the crypto industry and the crypto market. At its core, the profitability of mining comes down to a single, crucial metric — the cost of producing each bitcoin. The importance of this cost becomes…
USDC supply surge as Circle’s expands native issuance to Celo for better payments
Circle’s USD Coin (USDC) stablecoin has expanded to the Celo Network to enhance cross-border payments and peer-to-peer transactions. The Celo Foundation, in a Jan. 30 statement shared with CryptoSlate, highlighted the potential of this expansion to facilitate local currency conversions…
Unveiling the seamless future of blockchain applications
Have you ever manually chosen between Azure and AWS when browsing X – or picked a payment processor to reroute your online Apple Pay transactions to? Do you check the SSL certificate of AliExpress or Amazon to make your shopping…
Global Bitcoin ETP holdings over 900,000 BTC as Grayscale outflows ‘subside’
Crypto investment products saw their second consecutive week of outflow this year, with $500 million leaving the funds, according to CoinShares’ latest weekly report. Bitcoin dominate Bitcoin investment products experienced significant outflows last week, with a total withdrawal of $479…
The invisible engine: How OTC trading powers Bitcoin ETFs
The post The invisible engine: How OTC trading powers Bitcoin ETFs appeared first on CryptoSlate.
Vanguard says Bitcoin is “immature asset class”
Vanguard decided not to offer clients access to Bitcoin ETFs because the flagship cryptocurrency is an “immature asset class” that does not align with its company philosophy, according to the firm’s executives. Vanguard Global Head of ETF Capital Markets and…
Trac Core launches ‘Trac Core for TAP Protocol’ to revolutionize Bitcoin data indexing
In a groundbreaking development for Bitcoin’s data indexing landscape, Trac Core has announced the launch of “Trac Core for TAP Protocol,” according to a Jan. 26 press release. Trac Core’s journey began in May 2023, focusing on developing decentralized data…
PayPal to launch AI-powered products
PayPal announced on Jan. 25 that it will launch a variety of artificial intelligence (AI)-powered products aimed at end users and merchants. In an interview with Reuters, PayPal President and CEO Alex Chriss said: “The data that we have and…
BlackRock’s IBIT ETF now holds almost 50,000 BTC as AUM hits $2 billion
BlackRock’s iShares Bitcoin ETF (IBIT) has set a new benchmark in the cryptocurrency investment space by amassing over $2 billion in assets under management (AUM) just ten days after its trading debut, according to Bloomberg Terminal data. BlackRock now holds…
Crypto saw 62 million acquired users across eight chains in 2023: Flipside report
Flipside Crypto reported that blockchain users and activity grew throughout 2023 in a report shared with CryptoSlate on Jan. 25. The analytics company wrote: “Crypto recently has been fluctuating through extremes, with on-chain activity and user sentiment swinging wildly throughout…
Why declining prices did not stop Bitcoin holdings increasing for new ETFs
The Newborn Nine spot Bitcoin ETFs recently launched in the US have seen their combined assets under management explode to $5.1 billion in the nine trading days since their launch. However, throughout this period, the price of Bitcoin has fallen…
Craig Wright makes settlement offer in COPA case to ‘give up’ some rights
Dr. Craig Wright, the controversial Australian computer scientist, has backtracked from his impending legal battle with the Crypto Open Patent Alliance (COPA) by proposing a settlement offer for the trial. According to a Jan. 24 statement, Wright’s proposed offer includes…
Understanding the differences in Bitcoin futures on Binance and CME
Open interest on Bitcoin futures listed on the Chicago Mercantile Exchange (CME) has been outpacing open interest on Binance futures since November 2023. As of Jan. 23, around 30% of the total open interest in the Bitcoin futures market is…
Why most Grayscale investors may remain in profit if GBTC falls further 20% to $27
According to data from trading firm Webull, around 70% of Grayscale GBTC holders likely remain in profit. The average shares were purchased at $27.82, some 20% below the current price as of press time. The Webull data shows the state…
Grayscale offloads further 13k BTC as revenues still way above competition
Data from Arkham Intelligence shows Grayscale has continued its daily Bitcoin outflows, which have occurred daily shortly before the U.S. market opened each day since its conversion to a spot Bitcoin ETF. Arkham Intelligence GBTC outflows With famously high fees,…
Bitcoin ETFs buy 95,000 BTC as assets under management hit $4 billion
The “Newborn Nine” Bitcoin ETFs have collectively amassed 95,000 BTC, with collective assets under management (AUM) nearing $4 billion, according to available data. According to Bloomberg ETF analyst Eric Balchunas, this remarkable inflow of capital highlights the growing investor appetite…
China’s underground crypto market thrives despite harsh trading ban: WSJ
Despite Beijing’s 2021 ban on crypto trading, a thriving underground market reportedly continues to operate in China. The Wall Street Journal (WSJ) reported that investors circumvent the country’s stringent regulations through informal networks through VPNs, social media, and physical trading….
Bitcoin ETFs: An in-depth look at the first 5 days of trading
The post Bitcoin ETFs: An in-depth look at the first 5 days of trading appeared first on CryptoSlate.
SEC opens comments on options trading for BlackRock, Cboe spot Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC) on Jan. 19 opened comments on proposals related to options trading on Bitcoin ETFs. One SEC notice concerns a proposed rule change allowing Nasdaq to list and trade options on BlackRock’s iShares Bitcoin…
Hut 8 responds to report criticizing USBTC merger and other activities
The Bitcoin and digital asset mining firm Hut 8 responded to a recent critical report in a statement on Jan. 19. The mining company wrote: “Hut 8 Corp is aware of a short report … by J Capital Research, which…
Whales dive deeper into Bitcoin as smaller holders retreat amid ETF pressures
Quick Take Amidst the accelerated pace of GBTC outflows contributing to downward pressure on Bitcoin’s price, two divergent behavioral patterns are becoming evident among older cohorts. Data demonstrates a growing preference among more oversized Bitcoin holders or ‘whales’ to accumulate…
How growing U.S. interest shaped Bitcoin’s price ahead of the ETF
The period leading up to the ETF launch was marked by an increase in Bitcoin’s price. And while the launch of the first spot ETFs in the U.S. failed to create the bombastic bull rally many were hoping for; it…
BlackRock on track to surpass Grayscale Bitcoin holdings in 37 days
Quick Take BlackRock’s IBIT Bitcoin ETF has recently made headlines, surpassing a net inflow of $1 billion and acquiring 25,067 Bitcoin within four trading days. A deeper analysis reveals that at this acquisition rate, it would reach 592,000 BTC –…
IRS says controversial $10k reporting rule doesn’t currently apply to crypto
Two U.S. agencies announced on Jan. 16 that controversial transaction reporting rules do not apply to digital assets (ie. cryptocurrency). The Internal Revenue Service (IRS) and Department of the Treasury said: “Businesses … do not have to report the receipt…
Grayscale outflows add further $800 million BTC liquidity to Coinbase Prime OTC desk
Quick Take According to Arkham Intelligence data, Grayscale transferred another 18,400 BTC to a Coinbase Prime hot wallet on Jan. 17. Sent in several 1,000 BTC transactions, the Bitcoin was valued at around $800 million as of press time. On…
Offbeat letter suggests SBF should teach high school math as punishment for crimes
An unusual letter sent to federal court on Jan. 10 suggested an alternative sentence for FTX’s founder and former CEO, Sam Bankman-Fried. The letter’s author, Mary McKee of Minnetonka, Minnesota, stated that she has no relationship to Bankman-Fried. She continued:…
Another pro-crypto presidential candidate suspends campaign for office
Pro-crypto presidential hopeful Vivek Ramaswamy has suspended his campaign for office on Jan. 16. In a post on the social media platform X (formerly Twitter), Ramaswamy revealed he was suspending his campaign to support former President Donald Trump’s bid to…
South Korea looks to crackdown on crypto mixers via new regulations
South Korean financial authorities are considering introducing specific regulatory measures for cryptocurrency mixers to curb the misuse of these protocols for money laundering by criminal organizations, local media reported on Jan. 15. The move is driven by the growing concern…
Bankrupt FTX’s token valuation rebounds to over $1 billion as customers contest bankruptcy plan
Bankrupt FTX’s native token FTT market capitalization surpassed $1 billion again after a recent decline. Since the cryptocurrency exchange abruptly collapsed following a bank run in November 2022, it only briefly traded over $1 billion toward the end of last year,…
Bitcoin dips below $42k, liquidates majority of long positions across exchanges
Bitcoin (BTC) fell below $42,000 for the second time over the weekend after failing to break above $43,100 amid subdued trading volumes after the ETF hype at the end of last week. As of press time, BTC was trading at…
BlackRock scoops up 11,500 BTC during dip as ETF leads the pack
BlackRock has reportedly bought a staggering 11,500 Bitcoin from the available supply during the latest dip since the launch of its spot Bitcoin ETF. This amount is significant, considering that only 900 BTC are issued daily. The purchase by BlackRock…
Indians are turning to local exchanges amid clampdown on foreign platforms
India blocked access to global crypto exchanges, including Binance, KuCoin, and OKX, on Jan. 12. India has instituted an IP block that prevents Indians from accessing the URLs of foreign crypto platforms. As per CryptoSlate’s investigation, however, it was still…
Genesis forfeits BitLicense, pays $8 million to settle NYDFS lawsuit
The New York State Department of Financial Services (NYDFS) announced a settlement with Genesis Global Trading, which includes an $8 million fine and the relinquishment of its license to operate with virtual currencies in New York. The NYDFS’s investigation into…
Senator Elizabeth Warren: SEC was wrong in its spot Bitcoin ETF decision
Senator Elizabeth Warren asserted on Jan. 11 that U.S. securities regulators incorrectly decided to approve spot Bitcoin ETFs. Warren wrote in a post on X: “The [Securities and Exchange Commission] is wrong on the law and wrong on the policy…
Vanguard to ban all Bitcoin ETFs on its platform
Vanguard has restricted its customers from purchasing Bitcoin ETFs, including the popular Grayscale Bitcoin ETF (GBTC), and reportedly plans to ban these products from its platform for being too risky. Vanguard’s decision to ban all Bitcoin ETFs from its platform…
Ethereum takes the lead over Bitcoin in derivatives trading volume
The derivatives market for Bitcoin (BTC) and Ethereum (ETH) experienced significant fluctuations following the incident on Jan. 9, where the U.S. Securities and Exchange Commission’s (SEC) Twitter account was compromised. This false announcement of a spot Bitcoin ETF approval led…
Fundstrat’s Tom Lee predicts $500k Bitcoin in 5 years as institutions begin pouring in
Fundstrat Global Advisors managing partner Tom Lee predicts Bitcoin (BTC) could surge to $150,000 within the next 12 months and potentially leap to $500,000 in the next five years. Lee made the statement during an appearance on CNBC’s “Squawk Box”…
WisdomTree and Valkyrie add fee waivers to spot Bitcoin ETF applications
Two more asset managers have temporarily waived fees for their spot Bitcoin ETFs, Bloomberg ETF analyst James Seyffart said on Jan. 9. Seyffart indicated that WisdomTree will waive its fees for 6 months or the first $1 billion of assets,…
Investors hedge bets on Bitcoin with $50K call options before ETF decision
The crypto market is currently charged with tension, anticipating the U.S. Securities and Exchange Commission’s impending decision on the first spot Bitcoin ETF. Amidst divided opinions over whether the SEC will approve the ETF in the coming days or postpone…
Spot Bitcoin ETF exchanges and issuers instructed to submit final filings: Bloomberg
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CertiK’s social media hacked, users warned against phishing links disguised as Uniswap exploit
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Multiple spot Bitcoin ETFs will be approved, TechCrunch’s inside sources say
TechCrunch senior crypto reporter Jacquelyn Melinek claimed on Jan. 4 that regulators will approve more than one spot Bitcoin ETF at once. Melinek posted to Twitter/X: “[I have] heard from sources extremely close to the matter that the bitcoin spot…
Bitcoin address momentum drops as market eyes ETF prospects
Analyzing the momentum of new and active addresses is crucial for gauging market health and investor sentiment. Active address momentum, a measure of the number of unique Bitcoin addresses actively transacting on the network, indicates user engagement and network utilization….
BlackRock and Grayscale could add Goldman Sachs as authorized ETF participant
Two leading spot Bitcoin exchange-trade fund (ETF) applicants could add Goldman Sachs in a key role, CoinDesk reported on Jan. 3. The crypto news site said that Grayscale and BlackRock could both add Goldman Sachs as an authorized participant. That…
Bitcoin outshines Ethereum, leads for four successive quarters in performance
Quick Take Bitcoin has maintained a notable ascendancy over Ethereum throughout 2023, sustaining a performance that outstripped Ethereum each quarter. In Q1, Bitcoin’s value surge of 72% significantly overshadowed Ethereum’s 52% increase. The trend continued into Q2, with Bitcoin and…
Mad Money’s Jim Cramer flips script on Bitcoin, calls it a ‘technological marvel’
Jim Cramer, known for his influential role as the host of CNBC’s “Mad Money,” has completely shifted his stance on Bitcoin (BTC) and now believes it is a “technological marvel.” This change of heart is particularly striking given Cramer’s background as…
U.S. chief justice says AI will transform legal system, but won’t replace lawyers
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New year begins with $225M in crypto market liquidations
The cryptocurrency market kicked off the new year slowly as over 99,000 traders were liquidated of approximately $225 million within the past day. Data from Coinglass shows that traders betting on further price increases bore the brunt of the losses,…
How zero-knowledge (zK) tech will power the future of crypto
The past year has witnessed the ascendancy of Zero-Knowledge (ZK) technology. From its potential to increase and secure privacy protocols in the Web3 space, to its increased efficiency in validating transactions, the implementation of the tech is further cementing the…
Bitwise reveals $200M seed fund for spot Bitcoin ETF in updated S-1 filing
Bitwise has also updated its S-1 form submitted by the Dec. 29 deadline set by the SEC and revealed a planned $200 million seed investment for its spot Bitcoin (BTC) exchange-traded fund (ETF). The amount is 20x larger than the…
Coinbase says custodial arm has ‘extensively prepared’ for spot Bitcoin ETF
Coinbase Custody has made adjustments in preparation for its role in pending spot Bitcoin ETFs, Bloomberg reported on Dec. 29. A Coinbase representative said: “We have extensively prepared for ETF approval … Our systems have been designed and tested to…
Bitcoin’s volatile year yields $90 billion in profits amidst $53 billion in losses
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Ex-Binance CEO Changpeng Zhao seeks to seal travel documents citing child’s medical privacy
Former Binance CEO Changpeng Zhao asked for parts of his travel request to be made private on Dec. 27. Though Zhao has sought permission to travel outside the U.S. for some time, the latest filings provide more context around his…
Bitcoin mining stocks dwarf Bitcoin’s gains amid short squeeze buzz
Quick Take Bitcoin mining stocks have seen a remarkable performance in 2023, outpacing Bitcoin’s already impressive 160% YTD surge. Key mining players, including Hive and Marathon Digital Holdings, have recorded skyrocketing growth figures at an astonishing 274% and 767% YTD,…
Short-Term Holder Realized Price soars past $35,000
Quick Take The Realized Price, a crucial metric in digital market analysis, denotes the aggregate price at which each Bitcoin was last spent on-chain. This metric provides a nuanced picture of investor behavior, particularly when dissected through the lens of…
Grayscale amends ETF strategy to meet SEC cash-only redemption demands
Crypto asset manager Grayscale filed a revised S-3 filing with the United States Securities and Exchange Commission (SEC) on Dec. 26 to comply with the regulator’s demands for cash-only creation for the fund redemptions. This amendment means Grayscale will facilitate fund…
Anatoly Yakovenko says ‘Solana is Ethereum’ in layer-2 scalability debate
Solana creator Anatoly Yakovenko recently referred to Solana as an Ethereum layer-2 solution through its Wormhole eigenlayer in a post on X. In the exchange, Yakovenko positioned the blockchain as an Ethereum layer-2 while responding to a tweet listing various…
Bitcoin post-Christmas dip under $43k triggers marketwide liquidation of $170M
The crypto market faced significant liquidations of nearly $170 million post-Christmas, triggered by a slight decline in the values of major cryptocurrencies. Data from CryptoSlate indicates that the largest cryptocurrency by market capitalization, Bitcoin, declined 1.18% to $42,639, reminiscent of its…
Political donations from crypto industry surge ahead of 2024 elections
The cryptocurrency industry has significantly increased its political donations in response to growing regulatory challenges and skepticism in Washington, the Financial Times reported. The strategy highlights an escalation in the crypto sector’s engagement with political processes in an effort to…
Japan ends unrealized gains tax on corporate crypto assets
The Japanese government has reportedly ended the imposition of unrealized gains tax on crypto assets held by corporations, local media outlet CoinPost reported. In a Dec. 22 cabinet meeting, the authorities reportedly approved the discontinuation of taxing corporations for unrealized…
Strategies for redemption and market impact
It has been widely accepted that Bitcoin ETF applications have been the main driver for Bitcoin’s return to the April 2022 level at above $40k. The thesis is simple: with a new layer of institutional legitimacy, the capital pool for…
SEC sets strict year-end deadline for final changes to spot Bitcoin ETFs, confirms first wave of approvals to come in January
The U.S. SEC has set a strict deadline of Dec. 29 for companies hoping to launch exchange-traded funds (ETFs) tied to spot Bitcoin price, Reuters reported Dec. 23, citing people familiar with the discussions. This significant development emerged from a…
Bitcoin mining difficulty hits all-time high after surging over 6%
The Bitcoin network witnessed a significant rise in mining difficulty, setting a new all-time high by surpassing 72 trillion at block height 822,528. The 6.98% increase from its previous level indicates an acceleration in mining operations around the globe, and…
Vertex Protocol | CryptoSlate
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Major East Asian investors launch a $100 million Web3 fund in Dubai
South Korean gaming giant Wemade (WEMIX) teamed up with Whampoa Digital, the technology investment arm of Singapore’s Whampoa Group, to launch a $100 million Web3 fund for driving digital asset initiatives in the Middle East. According to a Dec. 22…
El Salvador entices Bitcoin investors with citizenship offer
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FTX claim prices soar, but experts caution against unsustainable rally
FTX creditor claims recent rally is unsustainable, according to Vladimir Jelisavcic, founder and manager of Cherokee Acquisition—a crypto bankruptcy brokerage firm. In a Dec. 20 post on X (formerly Twitter), Jelisavcic stated that the “price increases for FTX claims should slow…
Solana overtakes XRP to become fifth-largest digital asset
Solana overtook XRP to become the fifth-largest cryptocurrency on the crypto market on Dec. 20, based on current data. As of 11:30 p.m. UTC, Solana (SOL) reported a market cap of $34.8 billion. XRP, a coin associated with Ripple, reported…
Bitcoin mining fees eclipse standard block rewards in market shift
Quick Take As of Dec. 20, there has been an observable shift in the Bitcoin mining landscape, as the earnings from fees are beginning to surpass the conventional miner rewards. Traditionally, a miner is rewarded 6.25 Bitcoin for every block…
OKX urges critical update after wallet bug disclosed
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Ethereum MEV-relay bloXroute to deny OFAC-listed transactions, escalating crypto censorship debate
Ethereum MEV-relay bloXroute labs said it will reject blocks containing transactions from addresses listed on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals And Blocked Person List (SDN) list starting Dec. 18. In a Dec. 18 statement on…
UK Treasury unveils sandbox rules for digital asset innovation
Leaders of the UK Treasury laid a set of rules called Digital Securities Sandbox (DSS) regulations before parliament on Dec. 18. A related memo explains that these regulations aim to create a controlled environment. This allows companies and regulators to…
FTX creditors stand to collectively lose millions under new reogranization plan
FTX Debtors filed an amended Chapter 11 reorganization plan on Dec. 16 that will potentially lead to millions of dollars worth of losses for the defunct crypto exchange’s creditors. The plan proposes valuing the creditors’ claims at crypto prices on…