Gemini creditors are facing a challenging situation with a proposed reorganization plan that could result in them recovering only a fraction of their original investments in Bitcoin. The plan, if accepted, could see creditors receiving just 30% of the current market value of their Bitcoin holdings or 61% of the value from January 19, 2023. […]
In a recent setback for Yearn.finance, a scripting error has resulted in a loss of $1.4 million from its treasury. The error occurred during the conversion of Yearn’s yVault LP-yCurve tokens into stablecoins on the decentralized exchange CowSwap. Due to an oversight in handling treasury funds, the entire treasury balance, including fees, was inadvertently transferred […]
Gemini Earn creditors are expressing frustration over a proposed reorganization plan that could significantly reduce their expected Bitcoin payouts. The plan, outlined in an email sent by Gemini Trust on December 13, suggests that creditors will receive a payout equal to their Earn crypto balances as of January 19, 2023, the date when Genesis Global […]
The UBS has seen a significant increase in its stock price following its acquisition of Credit Suisse. This success can be attributed to the interest of financial investors in the concept of a “Wealth Management Powerhouse.” However, some investors who feel disadvantaged by the sale of Credit Suisse have filed class-action lawsuits in an attempt […]
The Swiss industrial company R&S Group has defied the challenging IPO environment by going public through a Spac transaction. The company, specializing in electrical engineering, experienced a strong start on the Swiss stock exchange, with its shares closing the day with a nearly 13% increase. This marks the first “real” IPO with capital raising on […]
As the U.S. Securities and Exchange Commission (SEC) reviews filings for spot Bitcoin exchange-traded funds (ETFs), it is insisting on a “cash” redemption model rather than alternative models proposed by issuers like BlackRock. Invesco, the latest ETF applicant, has now agreed to use a cash creation and redemption model for its ETF. The SEC has […]
Bitcoin and other cryptocurrencies may soon experience a surge in adoption by U.S.-based companies, thanks to a recent accounting rule change. The new rule allows companies to more accurately reflect the value of their crypto holdings on their accounting books. Previously, companies could only record impairment when the value of their crypto decreased, even if […]
Binance has submitted two key filings in response to an ongoing case launched by the U.S. Securities and Exchange Commission (SEC). The first filing seeks to dismiss the case, arguing that the SEC has not provided sufficient evidence that Binance tokens and services are securities or investment contracts. It also claims that the SEC’s claims […]
Decentralized finance protocol Yearn.finance has experienced a significant loss of funds due to a scripting error. The error caused the protocol’s treasury balance of lp-yCRVv2 tokens to be swapped, resulting in a loss of approximately $1.4 million. The error occurred during the conversion of yVault LP-yCurve tokens into stablecoins on decentralized exchange CowSwap. Yearn Finance […]
Argentina’s new President, Javier Milei, has announced a 50% devaluation of the Argentine peso and cuts to energy and transportation subsidies. This move is expected to worsen the country’s economic situation initially, according to Economy Minister Luis Caputo. In light of these developments, cryptocurrencies, particularly Bitcoin and stablecoins, could play a crucial role.Milei, who describes […]
