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Examiner finds customer deception, ‘very Ponzi-like’ use of funds at Celsius
31.1.2023
The court-appointed examiner found many intentional and unintentional shortcomings at the bankrupt crypto lender dating back to its founding
Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
31.1.2023
Shoba Pillay was appointed by a New York bankruptcy court to look at whether the crypto lender operated as a Ponzi scheme
Shining Bitcoin Towers, Waking ETH Whales, Commingled Customer Funds and 20 Crypto Jokes
28.1.2023
Read More: Shining Bitcoin Towers, Waking ETH Whales, Commingled Customer Funds and 20 Crypto Jokes
Celsius Floats Possibility of Debt Token to Repay Creditors; Secures Court Approval to Process Customer Withdrawals
25.1.2023
The defunct crypto lender Celsius is exploring the possibility of creating a debt token to repay creditors. The plan would need to be approved by regulators, but if approved by the trustee and financial authorities, the debt token would be called an “asset share token (AST).” Celsius...
Crypto Lender Celsius Wins Court Approval for Customer Withdrawals, Flare Token Airdrop
25.1.2023
One order authorizes Celsius to return funds transferred to the platform after the company filed for bankruptcy last July, subject to certain conditions
Binance Crypto Exchange Admits to Mixing Customer Funds with Collateral for Binance-Issued Tokens
25.1.2023
Major crypto exchange Binance kept collateral for some of the cryptoassets it issues in the same wallet as the customer funds by mistake, Bloomberg reported, citing a Binance spokesperson.
On Monday, Binance released a proof-of-collateral report for B-Tokens, which are the 94 Binance-minted...
Today in Crypto: Genesis Creditors Sue DCG and Barry Silbert, Binance Kept Some Collateral in Same Wallet as Customer Funds, Binance Processed $346M for Bitzlato
24.1.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Genesis Creditors Sue DCG and Barry Silbert, Binance Kept Some Collateral in Same Wallet as Customer...
NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry
23.1.2023
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer...
In Wake of FTX, New York Reminds Crypto Firms to Segregate Customer Funds
23.1.2023
After crypto exchange FTX's bankruptcy proceedings revealed poor segregation of customer funds, the New York regulator is reminding service providers to keep clean records
Hashkey Capital Raises $500 Million for Its Third Fund, Despite Crypto Market Downturn
18.1.2023
On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced that it has closed its third fund at $500 million. The company’s “HashKey Fintech Investment III” is dedicated to developing crypto solutions, blockchain technology, and Web3...
Former FTX US President lashes out at 'insecure' SBF in 49-part Twitter thread rant
15.1.2023
Harrison said Bankman-Fried threatened to fire him on the spot and would destroy his professional reputation if he continued to confront the former FTX CEO
Bitmex Co-Founder Criticizes Former FTX CEO for Not Liquidating Hedge Fund Alameda
14.1.2023
The Bitmex co-founder, Arthur Hayes, criticized Sam Bankman-Fried, the disgraced FTX co-founder, on Friday after Bankman-Fried published his first blog post on his new Substack newsletter. “All this talk about what Alameda did is misdirection,” Hayes insisted. “It doesn’t matter how they hedged...
Wyre tweets its new withdrawal policy: A limit of 90% max for each customer A/C
9.1.2023
Wyre recently took to Twitter to share the news with the community that it has restricted the withdrawal amounts for all users. The revised withdrawal policy comes with no definite timeline except with an assurance that it will be resolved at the earliest. According to the revised withdrawal...
Vavada Casino: Online Crypto Casino (Exclusive Tournaments)
9.1.2023
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Billionaire Mark Cuban Warns of Next Crypto Implosion Coming From Wash Trades
8.1.2023
Mark Cuban, a Shark Tank star and the owner of the NBA team Dallas Mavericks, has warned that the next crypto implosion could come from “the discovery and removal of wash trades” on centralized exchanges. The billionaire’s comments followed the collapse of crypto exchange...
Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions
7.1.2023
Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto...
Report: Confirmation of Silvergate’s $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%
6.1.2023
The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank....
Core Scientific to Shut Down 37,000 Bitcoin Mining Rigs Belonging to Bankrupt Crypto Lender Celsius
4.1.2023
Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs, as the crypto lender has been unable to make...
US Feds put together ‘FTX task force’ to trace stolen user funds
4.1.2023
United States Attorney Damian Williams said the office is working “around the clock” to respond to the implosion of FTX
Car Manufacturer Maruti Suzuki Launches Metaverse Showroom Experience in India
3.1.2023
Maruti Suzuki, one of the biggest car manufacturers in India, has announced that it is taking its customer retail experience to the metaverse. The company announced on Jan. 1, it would launch a VR (virtual reality) network for its Arena showroom series, allowing its users to experience the Maruti...