Company News 85 | MachinaTrader.com

Phoenix Group’s IPO Raises $370 Million, Reflecting Strong Investor Confidence in Middle Eastern Crypto Economy

Abu Dhabi-based Bitcoin mining service provider, Phoenix Group, has successfully completed its initial public offering (IPO), raising approximately $370 million. The IPO, which sold 907 million shares, surpassed the firm’s initial expectations by raising 33 times the projected amount. The overwhelming demand from retail investors led to the IPO being oversubscribed by 180 times, with […]

Bittrex Global, Cryptocurrency Exchange, Announces Closure and Withdrawal Restrictions

Bittrex Global, a cryptocurrency exchange based in Liechtenstein, has announced its closure. The company stated that it took careful consideration in making this decision and acknowledges the inconvenience it may cause its customers. Starting from December 4, trading on the platform will cease. In a recent statement, Bittrex Global informed users that those holding US […]

Bittrex Global to Cease Operations Following Regulatory Challenges

Liechtenstein-based cryptocurrency exchange Bittrex Global has announced that it will suspend all operations by the 4th of December as it prepares to shut down following a bruising battle with the SEC. The closure comes after the exchange’s US arm, Bittrex, already shut down operations due to regulatory challenges in the country. Bittrex Global will begin […]

Tether’s $1 Billion Deposit in UK Bank Sparks Legal Battle

Tether, the stablecoin issuer, has deposited around $1 billion into the UK subsidiary of Britannia Financial Group, according to court documents cited by the Financial Times. This comes amidst an ongoing legal battle between Britannia and Arbitral International. Arbitral filed a lawsuit against Britannia, accusing the bank of failing to fulfill payment obligations for a […]

Tether Freezes $225 Million in Largest USDT Seizure Ever, Assisting US Law Enforcement in Human Trafficking Investigation

Tether, the issuer of the USDT stablecoin, has taken a significant step in combating illegal activities in the crypto space. In collaboration with US law enforcement agencies, Tether has conducted a joint investigation targeting a human trafficking organization in Southeast Asia. As a result, Tether has initiated the largest USDT freeze in its history, permanently […]

Britannia Financial Faces Lawsuit Over Alleged Failure to Pay Full Price for Revenue-Generating Assets Linked to Tether Deposit

Tether’s bank partner, Britannia Financial, is facing a lawsuit over allegations of failing to pay the full price for revenue-generating assets related to a large deposit from Tether. The lawsuit, filed by Arbitral International, claims that Britannia did not fulfill its payment obligations regarding the acquisition of Arbitral Securities, a brokerage business based in the […]

BlockFi Resumes US Crypto Withdrawals After Regulatory Dispute Pause

BlockFi, a cryptocurrency lending company, has resumed allowing eligible clients in the United States to withdraw their digital assets. This comes after a court directive and is a significant development in the ongoing bankruptcy proceedings. However, the resumption of withdrawals only applies to US-based holders of BlockFi Wallets who meet specific conditions outlined in the […]

Apple Faces Class-Action Lawsuit Over Alleged Restriction of Crypto Technology in Payment Apps

Disgruntled consumers have filed a class-action lawsuit against Apple, accusing the tech giant of engaging in anti-competitive practices. The lawsuit alleges that Apple conspired with PayPal’s Venmo and Block’s Cash App to limit peer-to-peer payment options and block decentralized cryptocurrency technology from iOS payment apps. According to the complaint, these agreements have resulted in inflated […]

Santander Expands Cryptocurrency Services to High-Net-Worth Clients in Switzerland

Santander Private Banking International, a division of Banco Santander, is expanding its cryptocurrency trading and investment services to high-net-worth clients with Swiss accounts. The bank initially offers trading facilities for Bitcoin and Ether, with plans to introduce more digital assets in the future. This move sets Santander apart from other large banks that typically focus […]

Bittrex Global Announces Closure of Trading Operations Worldwide

Bittrex Global, a cryptocurrency exchange, has announced that it will be winding down its operations and halting all trading activity. The decision, which will affect users globally, comes after the company previously stated that it would only shut down its operations in the United States. Starting from December 4th, all trading activity on the exchange […]