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Brazil: $193m ‘Crypto Pyramid’ Firm Declared Bankrupt
8.2.2023
Indeal, the Brazilian company behind a suspected crypto pyramid scheme worth some $193 million, has declared bankruptcy.
The firm was at the heart of a major police operation back in May 2019. The police dubbed their operation Operation Egypt and worked in conjunction with the nation’s tax agency...
Elementus Raises $10 Million to Bring Clear Blockchain Analytics to Institutional Customers
8.2.2023
Elementus, a New York-based blockchain firm, has raised $10 million as part of its Series A-2 funding round, led by Web3 VC company Parafi Capital. The raise, which values the company at $160 million, aims to allow Elementus to keep improving its processes for providing effective and sound...
US Dollar to Keep Losing Its Appeal as Safe-Haven Currency of Last Resort, Says Strategist
8.2.2023
Pacific Investment Management Company (PIMCO) expects the U.S. dollar to “continue to lose its appeal as the safe-haven currency of last resort.” The $1.74 trillion asset management firm added that the USD “is likely to fall further in 2023 as inflation falls, recession risks...
Investment Manager Predicts Gold Could Hit $3,000 This Year
8.2.2023
Investment management and advisory firm Goehring & Rozencwajg expects gold to hit record highs this year. “I wouldn’t be surprised to see a $3,000 price this year,” said an executive of the firm. “It’s time for people to want to be bullish on gold.” Gold...
Law Firm Subpoenas FTX Co-Founder, Top Executives, and Former Alameda CEO Over Voyager Digital Deal
7.2.2023
On Feb. 6, 2023, law firm Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and top executives on behalf of Voyager Digital. The subpoena requested they produce documents and communications related to the “Alameda Loan Agreement” between Alameda Ventures...
Cloud Mining Firm BitFuFu to Delay SPAC IPO as Appetite for Crypto Stocks Languishes
7.2.2023
The company has now set a deadline of May to complete its listing
FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns
7.2.2023
Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through...
South Korean CEO Jailed for ‘Misappropriating’ Partner Firm’s Ethereum Funds
7.2.2023
A South Korean CEO has been sentenced to five years in prison for “misappropriating” $2.4m worth of ethereum (ETH) from a partner company.
Per the media outlet Delight, the 43-year-old man, identified only by his surname (Chae), is the head of a “marketing agency” that deals with crypto funds....
Crypto Custody Tech Firm Metaco Taps IBM Execs to Revamp Institutional Push
7.2.2023
The Swiss crypto tech provider hired IBM’s Peter DeMeo as head of product, as well as former IBM lead architect, Angel Nunez Mencias
Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market — Predicts BTC Price Could Reach $1.48 Million
7.2.2023
Investment management firm Ark Invest says bitcoin is “likely to scale into a multi-trillion dollar market.” In its new report, the firm offers three bitcoin price predictions, including a bull case where bitcoin could rise to $1.48 million per coin. Ark Invest CEO Cathie Wood sees...
Blockchain Analytics Firm Elementus Triples in Valuation Despite Crypto Winter
6.2.2023
Elementus increased its valuation significantly from a little more than a year ago in a new $10 million fundraise
FTX Being Advised by Cybersecurity Firm Sygnia on Hack Inquiry, CEO Ray Says
6.2.2023
The crypto exchange’s current chief executive blasted weak cybersecurity controls at the company under Sam Bankman-Fried’s leadership
Brazilian Fintech Company Capitual Partners With Azimut to Offer Crypto Services in European Markets
6.2.2023
Capitual, a Brazilian fintech company that offers cryptocurrency intermediation services, has partnered with Azimut, an asset management firm, to expand its service offer to Europe. The deal, which contemplates an investment of €15 million (about $16.2 million), would allow Capitual to start...
Hodlnaut works with potential buyers to sell firm and FTX claims: Report
6.2.2023
Hodlnaut’s court-appointed judicial managers are reportedly in the process of signing non-disclosure agreements with the potential buyers
Dingo crypto token flagged as scam over 99% transaction fee backdoor
6.2.2023
Cybersecurity firm Check Point said it discovered a smart contract function called "setTaxFeePercent" which can reportedly change the contract's buy and sell fees
Google invests $300M in AI firm previously funded by Sam Bankman-Fried
5.2.2023
Members of Crypto Twitter are speculating whether Bankman-Fried and FTX will source the reported $530 million invested in Anthropic to pay off FTX creditors
Google Backs AI Firm Anthropic With $300 Million, Following Series B Investment From Controversial FTX Co-Founder
4.2.2023
As the artificial intelligence (AI) wars intensify, the AI firm Anthropic has raised $300 million from Google and sources say that the tech giant will get roughly a 10% stake in the AI company. Interestingly, in April 2022, Anthropic raised approximately $500 million from sources including...
Hackers Stole $3.8 Billion From Crypto Firms in 2022, Says Chainalysis
4.2.2023
Blockchain analytics firm Chainalysis says 2022 was “the biggest year ever for crypto hacking,” with $3.8 billion stolen from cryptocurrency businesses. The firm added that decentralized finance (defi) protocol hacks accounted for 82.1% of all cryptocurrency stolen by hackers during...
Crypto VC Firm Pantera Loses Co-CIO Joey Krug
3.2.2023
A newly-formed executive committee will absorb Krug’s duties, according to a letter to limited partners
Crypto Software Firm President: We're Trying to Make California’s DMV More Efficient With Blockchain
2.2.2023
Car titles that once lived on paper will be reflected as digital assets on-chain, reducing the need for paper title transfers. Andrew Smith, president of blockchain software company Oxhead Alpha, discusses why his firm is turning to the Tezos blockchain to build out the protocol