FTX, the collapsed crypto exchange, has reached a settlement agreement with Genesis Global Capital, a crypto lending firm, in their ongoing bankruptcy case. Under the agreement, FTX will receive a $175 million claim against Genesis, while also withdrawing over $1 billion in counterclaims. This settlement aims to resolve disputes over loans made by Genesis to […]
Polygon, a blockchain platform, is revolutionizing the tokenization of assets by introducing its Polygon 2.0 protocol. This protocol consists of interconnected Layer 2 chains and a shared zero-knowledge bridge, enabling the seamless tokenization of various assets, including collectibles like Pokémon cards. Polygon’s goal is to cater to the needs of traditional finance and facilitate institutional […]
Trezor, a leading provider of hardware cryptocurrency wallets, is celebrating its 10th anniversary by launching three new products. The first is the Trezor Safe 3, a hardware wallet that supports over 7,000 cryptocurrencies. This wallet is a significant milestone for Trezor in its commitment to providing entry-level hardware wallets. It comes in four different colors […]
Judge Lewis Kaplan has made several pretrial evidentiary rulings in the case against FTX founder Sam Bankman-Fried. While he granted reconsideration on certain issues challenged by Bankman-Fried’s defense, he maintained his decisions to exclude arguments about FTX’s lack of regulation and evidence related to the firm’s bankruptcy proceedings. However, the judge did allow evidence of […]
Investment firm BlackRock has taken legal action against the owners of 44 internet domain names that it claims are using its name for fraudulent purposes. The company alleges that these domains, which include keywords such as ‘Blackrock’, ‘Aladdin’, ‘capital’, ‘crypto’, and ‘investments’, were registered in bad faith to deceive consumers and redirect traffic through tactics […]
A recent amendment to the joint spot Bitcoin exchange-traded fund (ETF) application by ARK Invest and 21Shares is seen as a positive sign of progress and potential approval. The amendment includes additional information about the proposed ETF, addressing concerns raised by the Securities and Exchange Commission (SEC). Bloomberg senior ETF analyst Eric Balchunas believes that […]
CoinMarketCap, a crypto data aggregator owned by Binance, has launched a new ChatGPT plugin. This plugin allows users to access real-time data directly from CoinMarketCap. By signing in to their ChatGPT Plus account and enabling the plugin, users can keep up with the rapidly changing crypto landscape. The plugin operates as an AI crypto analyst, […]
Former engineer at Alameda Research, Aditya Baridwaj, has claimed that FTX’s sister hedge fund lost at least $190 million due to avoidable scams. Baridwaj alleges that the firm’s agility led to major security incidents occurring every few months. One example cited is a trader at Alameda losing over $100 million after clicking on a malicious […]
Palau, a small island nation in the Pacific Ocean, is taking a significant step towards financial modernization by introducing a government-issued stablecoin powered by Ripple. This move aims to address the financial challenges faced by Palau, where cash transactions are prevalent and access to financial services is limited. By leveraging Ripple’s technology, Palau hopes to […]
In a recent development, a Brazilian congressional committee has recommended the indictment of Binance CEO Changpeng “CZ” Zhao and three other Binance executives following an extensive investigation into financial pyramid schemes in Brazil. The committee’s report alleges fraudulent management practices, operating without sufficient authorization, and offering securities trading without approval against Zhao, Daniel Mangabeira, Guilherme […]
