FTX Trading Ltd. recently announced a significant milestone in addressing the challenges that arose from the collapse of the FTX group in November 2022. The company’s Bahamas-based subsidiary, FTX Digital Markets, has reached a settlement, subject to approval from the U.S. Bankruptcy Court for the District of Delaware and the Supreme Court of The Bahamas.
Exchanges
The decentralized finance (DeFi) ecosystem is experiencing a major shift as Solana, a smart-contract-enabled blockchain, emerges as a formidable competitor to Ethereum. On December 16th, Solana’s trading volume on decentralized exchanges (DEX) briefly surpassed that of Ethereum for the first time. This milestone signifies the robust growth and widespread adoption of Solana’s DeFi ecosystem among
FTX Debtors recently filed an amended Chapter 11 reorganization plan, which has raised concerns among the creditors of the defunct crypto exchange. The plan proposes valuing the claims of the creditors based on crypto prices from November 11, 2022, the day FTX filed for bankruptcy. However, this approach could lead to significant losses for the
FTX, a defunct cryptocurrency exchange, recently filed an amended Chapter 11 reorganization plan that spells potential disaster for its creditors. The plan, unveiled on December 16th, proposes to evaluate the claims of the creditors using cryptocurrency prices from November 11, 2022. Unfortunately, this date coincides with a period of steep decline in the crypto market,
Gemini Earn users have recently been hit with disheartening news about the value of their crypto holdings. According to a reorganization plan proposed by defunct crypto lender Genesis, these users might only recover 61% of their pending Earn balance as of January 19, 2023. In this article, we will delve into the details of this
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently announced a settlement with cryptocurrency exchange CoinList on December 13th. The settlement came after CoinList processed 989 transactions amounting to $1.25 million from users residing in Crimea, a disputed region between Russia and Ukraine. This article analyses the details of the settlement and its implications,
In January 2024, Google is set to update its policies regarding cryptocurrencies and related products. This policy revision will specifically focus on the advertisement of Cryptocurrency Coin Trusts. The aim is to provide users with sufficient information for making informed financial decisions while ensuring advertisers comply with relevant local laws. This article explores the details
In a recent filing, the U.S. Securities and Exchange Commission (SEC) has requested the court to consider the newly unsealed documents related to Binance and its former CEO Changpeng Zhao’s plea deals with other agencies. This move comes as the SEC seeks to counter Binance and Zhao’s attempt to dismiss the case against them. The
In November, Binance, the world’s leading cryptocurrency exchange, experienced a significant decline in its Bitcoin balance, coinciding with regulatory issues with U.S. authorities. This decrease in BTC holdings was accompanied by several other notable changes within the exchange’s ecosystem, indicating a shift in user behavior and the potential impact of regulatory concerns. According to Binance’s
The UK Financial Conduct Authority (FCA) has recently included Poloniex, a crypto exchange connected to Justin Sun, on its list of companies offering financial services without authorization. In an update released on December 6th, the FCA stated that Poloniex may be promoting financial services without their permission and advised individuals to avoid engaging with the
