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SEC Moves to Dismiss Lawsuit Against Crypto Company Debt Box, Citing Inaccuracies in Court
31.1.2024
The SEC has decided to abandon its lawsuit against Debt Box, a crypto company previously accused of defrauding investors of millions. This decision follows the SEC’s acknowledgment of presenting misleading information in court, a revelation that undermines the agency’s case...
SEC to Withdraw Case Against Crypto Startup DEBT Box Following Admission of Inaccuracy
31.1.2024
The Securities and Exchange Commission (SEC) has moved to withdraw its lawsuit against crypto startup DEBT Box after admitting to making inaccurate statements in court. The agency filed a lawsuit against Digital Licensing Inc., operating as DEBT Box, in July last year. However, it has now informed...
Bitcoin Miner Core Scientific Announces Post-Bankruptcy Comeback to Return to Nasdaq
24.1.2024
Core Scientific has announced its return to the Nasdaq following a comprehensive reorganization post-bankruptcy. According to Core Scientific’s recent release, the Bitcoin miner has emerged from its Chapter 11 bankruptcy with a significantly strengthened financial position. The reorganization...
Moonwell’s Bold $2.3M Plan to Counter Frax Hack Debt Sparks Controversy
19.1.2024
Moonwell, a decentralized finance (DeFi) borrowing and lending protocol, is facing controversy over its proposal to use $2.3 million worth of digital asset collateral to offset bad debt from Frax Finance (FRAX) pools due to a hack nearly two years ago. In a plebiscite held on December 31, 2023...
Robert Kiyosaki Raises Alarm on Ballooning National Debt — Urges Investors to Buy Bitcoin
15.1.2024
Rich Dad Poor Dad author Robert Kiyosaki has expressed concerns about the rapid rise in the U.S. national debt, which ballooned by a trillion dollars over a short period. The famous author then urged investors to buy bitcoin alongside gold and silver. Kiyosaki recently doubled down on his...
Controversy Arises as Genesis Creditors Challenge DCG’s Claim of Full Debt Repayment
10.1.2024
Genesis Global Source: AdobeStock / Timon Digital Currency Group (DCG) is facing allegations from an ad hoc group of lenders, claiming that DCG has not fulfilled its repayment requirements to its bankrupt subsidiary, Genesis Global. Despite DCG’s recent announcement on X that it had fully...
HyperVerse Promoter “Bitcoin Rodney” Arrested in US: Report
8.1.2024
HyperVerse crypto promoter Rodney Burton, better known as “Rodney Bitcoin,” has been arrested for his role in an elaborate crypt investing scheme, court documents reveal. A $58 million debt Court documents filed on January 4th show Burton has been charged with operating and conspiring to operate...
Digital Currency Group has Settled Over $1 Billion in Debt, Including $700 Million Owed to Bankrupt Genesis
8.1.2024
Source: Digital Currency Group Digital Currency Group (DCG) has successfully settled over $1 billion in debt, including the substantial amount of nearly $700 million owed to its bankrupt subsidiary, Genesis. The announcement came from DCG CEO Barry Silbert, who took to the social media platform...
Rich Dad Poor Dad Author Robert Kiyosaki Advises Investors to Pay Attention to Bitcoin Halving
5.1.2024
Robert Kiyosaki, the author of Rich Dad Poor Dad, has advised investors to closely monitor Bitcoin’s upcoming halving, emphasizing that the event is fast approaching. The famous author recently revealed that he is $1 billion in debt but does not see it as his problem. He further shared that...
Defi Platform Radiant Capital Loses Digital Assets Worth $4.5 Million After Flash Loan Attack
4.1.2024
Radiant Capital, a decentralized finance (defi) platform, confirmed on Jan. 3, 2023, that it fell victim to an attack which saw the “protocol accruing bad debt in the WETH market, totaling about 1.3% of total protocol TVL” or $4.5 million. Radiant Capital has urged the hackers...
SEC ‘Deeply Regrets’ Errors in Case Against Crypto Firm But Tells Court Sanctions Are Not Warranted
24.12.2023
The U.S. Securities and Exchange Commission (SEC) says that it “deeply regrets” the errors made in the case against crypto firm Debt Box after the court found that the agency made “materially false and misleading representations.” However, the SEC claimed that sanctions are...
SEC “Deeply Regrets” Handling of Debt Box Case, New Court Filing Reveals
22.12.2023
The United States Securities and Exchange Commision (SEC) has apologized for its handling of a lawsuit against decentralized blockchain project, Debt Box, according to new court documents. Walking it back “The Commission takes this Court’s concerns seriously and deeply regrets these errors,”...
New Argentina President Legalizes All Foreign Currencies For Payment – Including Bitcoin
22.12.2023
Source: Alexey Novikov / Adobe Argentina’s newly elected leader, Javier Miliei, has struck down forced legal tender laws forcing Argentinians to settle debt obligations in specific currencies, enabling use of alternatives like USD and Bitcoin (BTC). The rule comes attached to a sweeping executive...
Blockchain-Based Private Credit Surges 55% as Companies Seek Financing Amid Rising Interest Rates
18.12.2023
Image Source: Pixabay More companies are turning to blockchain-based private credit as they seek financing amid increasing interest rates, leading to a significant surge in this sector. According to RWA.xyz, a platform that tracks debt, active private loans through digital ledgers have risen...
Salvadoran Bitcoin Volcano Bonds Target Q1 2024 Launch After Getting Regulatory Approval
14.12.2023
Discussion on the Volcano Bonds, a series of digital debt instruments that would be used to finance the creation of Bitcoin City, has resurfaced after their regulatory approval in El Salvador. The Bitcoin Office in the country revealed that it anticipated a launch date of Q1 2024 for these bonds....
SEC Makes ‘Materially False and Misleading’ Representations Against Crypto Firm — Judge Threatens Sanctions
6.12.2023
The United States District Court for the District of Utah has expressed concerns that the U.S. Securities and Exchange Commission (SEC) is making “materially false and misleading representations” in its lawsuit against a crypto firm. The court has ordered the securities regulator...
Ripple CTO David Schwartz Accuses SEC of Mishandling Debt Box Case
5.12.2023
Source: YouTube/UNCHAIN Convention Ripple’s Chief Technology Officer (CTO), David Schwartz, recently criticized the US Securities and Exchange Commission (SEC) via his official X (formerly Twitter) handle, alleging questionable illegal activities in the Debt Box case. I've just read over...
Despite financial assistance, Pakistan faces declining forex reserves amidst external debt repayments
29.11.2023
During the initial months of 2023, Pakistan seemed to be heading towards a catastrophic point, with the IMF loan program in 2019 going off track after the fund realized the commitment of Islamabad to reform was lacking, which led to the suspension of loan disbursements. Pakistan has imposed strict...
Zipmex Proposes Repayment of 3.35 Cents Per Dollar to Creditors in Latest Restructuring Plan
29.11.2023
Source: Zipmex Zipmex has put forward a new proposal to repay creditors, initially offering 3.35 cents for each dollar of their claims as part of its restructuring efforts, according to Bloomberg. This initial payout is part of a broader plan to address the crypto exchange’s $97.1 million...
Greenidge Generation Settles Debt and Sells SC Bitcoin Mining Site to NYDIG
19.11.2023
Greenidge Generation Holdings has successfully wiped out $21.8 million in secured debt and divested its South Carolina bitcoin mining facility to NYDIG. The firm detailed that the move enhances Greenidge’s financial stability and liquidity. Greenidge Generation Holdings Clears $21.8 Million...