FTX Trading Ltd. has recently made significant strides towards resolving the challenges stemming from the collapse of the FTX group in November 2022. This groundbreaking settlement, which has been announced by the company’s Bahamas-based subsidiary, FTX Digital Markets, marks a critical milestone in addressing the complex legal issues that have arisen. The settlement is pending
Exchanges
In a monumental shift, Solana’s decentralized exchanges (DEX) briefly surpassed Ethereum in trading volume on December 16th. Data from DeFillama reveals that the trading volume of DEXs on the Solana blockchain reached an impressive $1.536 billion, outshining Ethereum’s $1.164 billion during the same period. This milestone has been celebrated by the crypto community, with Solana’s
FTX Debtors recently filed an amended Chapter 11 reorganization plan, and unfortunately, this plan may result in significant losses for the defunct crypto exchange’s creditors. The proposal suggests evaluating the creditors’ claims based on cryptocurrency prices from November 11, 2022, the day FTX filed for bankruptcy. However, during the period leading up to FTX’s collapse,
FTX Debtors recently filed an amended Chapter 11 reorganization plan, posing a considerable risk of significant financial losses for the creditors of the now-defunct cryptocurrency exchange. This plan, which proposes valuing the creditors’ claims based on crypto prices from November 11, 2022, the day FTX filed for bankruptcy, fails to consider the subsequent surge in
The latest reorganization plan from defunct crypto lender Genesis has caused quite a stir among Gemini Earn users. According to the plan, users might only be able to recover 61% of the value of their crypto holdings as of January 19, 2023. This news has left many feeling frustrated and outraged, as they had hoped
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently announced a settlement with the cryptocurrency exchange CoinList for alleged violations of sanctions related to Russia and Ukraine. This settlement has raised several concerns and highlights the need for robust compliance procedures in the crypto industry. Over a two-year period ending in May 2022, CoinList
In January 2024, Google is set to update its policies concerning Cryptocurrencies and related products, specifically focusing on the advertisement of Cryptocurrency Coin Trusts. This article will analyze Google’s revised policy and examine its implications for advertisers and users. Google’s policy revision aims to emphasize its commitment to ensuring that advertisers abide by local laws
The U.S. Securities and Exchange Commission (SEC) has filed a request to the court to consider new evidence in its case against Binance and its former CEO, Changpeng Zhao (CZ). The SEC argues that the recently unsealed documents of Binance and CZ’s plea agreements with other agencies support the continuation of the case. This filing
The latest proof of reserves report from Binance has revealed a significant decline in its Bitcoin balance during November. This decline, which coincided with the exchange’s regulatory issues with U.S. authorities, has raised concerns among investors and analysts. In addition to the decline in Bitcoin balances, Binance also witnessed a surge in the balance of
The UK Financial Conduct Authority (FCA) has recently issued a warning against Poloniex, a cryptocurrency exchange platform associated with Justin Sun. According to a statement released on December 6th, the FCA stated that Poloniex may be promoting financial services or products without proper permission. As a result, individuals in the UK are advised to avoid