Sign traders' expectations proved true as Genesis Global Capital LLC's parent company officially filed for Chapter 11 bankruptcy following a tumultuous year for the 'crypto' house of cards.
Core Scientific faces allegations of "securities fraud and other unlawful practices" that led to its share price tumbling, ultimately forcing it to file for bankruptcy.
The exchange, which opened in Japan less than two years ago, is giving local customers until February 16 to withdraw all assets from platform wallets, including fiat currency.
Genesis Global is on the brink of filing for bankruptcy this week after being caught off guard by the 3AC collapse last year, but sources said talks are ongoing and plans could change.
FBI special agent Daniel Sirmons believes that funds deposited into Binance accounts are from ransomware attacks and, thus, subject to civil forfeiture, a move the exchange said it wouldn't comply with.
Silvergate cites the industry's "transformational shift" as the reason behind its massive losses in Q4, while Signature Bank appears to be distancing itself from Binance.
3AC's Kyle Davies and Su Zhu are teaming up with CoinFLEX co-founders for a $25-million “crypto claims market" GTX, but several key players doubt its authenticity.
The DOJ's filings indicate that the project's founders diverted the funds and began operating a "textbook Ponzi scheme by paying earlier Bitconnect investors with money from later investors."
A bill passed by the El Salvador parliament provides the framework for a BTC-backed bond, “The Volcano Bond,” which President Nayib Bukele hopes will enable the government to raise capital to pay down its sovereign debt.
Sam Bankman-Fried launched a Substack account and insisted that FTX's U.S.-facing exchange "remains fully solvent" and would "return all customers' funds."
The U.S. securities regulator has formally charged Genesis Global Capital LLC and Gemini Trust Company LLC for the unregistered offer and sale of securities in connection with the Gemini Earn digital asset lending program.
As part of a lawsuit against him for promoting Voyager Digital, billionaire entrepreneur and Shark Tank personality Mark Cuban will be deposed in Dallas, Texas, on February 2.
