Bybit, a notable exchange in the cryptocurrency industry, has recently seen a large outflow of Bitcoin. On a single day, 12.5k BTC, worth $320M, was withdrawn. This is the largest single-day withdrawal in Bybit’s history, leaving the exchange with a remaining Bitcoin balance of 21.5k BTC.The implications of this outflow are uncertain, but it could […]
The United States Securities and Exchange Commission (SEC) has brought its first enforcement action against a player in the non-fungible token (NFT) space. The regulator charged Impact Theory, a Los Angeles-based media and entertainment company, with conducting an unregistered securities offering.Impact Theory sold approximately $30 million of NFTs, claiming that purchasing a Founder’s Key equated […]
Genesis Global and its affiliates have reached a deal in principle on a bankruptcy reorganization plan supported by creditors, according to a court filing on Tuesday. The cryptocurrency lender aims to emerge from Chapter 11 protection after entering mediation in May to resolve disputes over a reorganization plan. Under the deal, Digital Currency Group (DCG) […]
Stargate, the leading omnichain liquidity layer, has now deployed on Kava Chain, the Cosmos-Ethereum interoperable Layer 1. This integration will expand the reach of Tether’s Cosmos-native USDt to the Ethereum ecosystem and beyond. Stargate’s success in connecting Ethereum networks is unmatched, with 300x more TVL than the next most-used bridge.The integration ensures that users from […]
