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HSBC Subsidiary to Acquire Silicon Valley Bank's U.K. Unit for 1 Pound
13.3.2023
The bank said the deal is a move to strengthen it's regional presence
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
11.3.2023
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch...
Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil
11.3.2023
According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic conditions” and the “crypto winter”...
Blockchain.com suspends its asset management subsidiary launched in April: Report
9.3.2023
The timing of opening the subsidiary was unfortunate, a spokesperson noted to Bloomberg, although the company held up to the crypto winter for quite a while
Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets
4.3.2023
Cryptocurrency exchange Coinbase has acquired One River Digital Asset Management, an institutional digital asset manager and registered investment adviser with the Securities and Exchange Commission (SEC). This acquisition allows Coinbase “to expand institutional access to digital...
Report Reveals Limited Accounting Records, Commingled Funds at FTX Digital Markets in the Bahamas
17.2.2023
PWC, one of the ‘Big Four’ auditors and among the largest professional services networks globally, recently published a report on FTX Digital Markets, the bankrupt crypto exchange’s Bahamian subsidiary. The report indicates that the entity’s accounting records have been limited, and...
State-backed Crypto Mining Farm under Construction in Russia’s Buryatia
11.2.2023
A new crypto mining facility is being built in the Russian Republic of Buryatia with support from a government-affiliated company. Construction of the infrastructure for the large-scale project is already underway, carried out by a subsidiary of Russia’s largest mining operator, Bitriver. Bitriver...
Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs
31.1.2023
The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan...
FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings
31.1.2023
FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe...
Today in Crypto: Moody’s to Develop a Scoring System for Stablecoins, Hive Ransomware Group Dismantled, Animoca Brands Subsidiary Hiring a Head of Degen Relationships
27.1.2023
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: Moody’s to Develop a Scoring System for Stablecoins, Hive Ransomware Group Dismantled, Animoca Brands...
Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B
20.1.2023
The crypto finance firm filed for Chapter 11 bankruptcy yesterday, with debts around $3.5 billion
Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit
20.1.2023
Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations...
Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis
18.1.2023
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis...
Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense
18.1.2023
Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan &...
Digital Currency Group halts dividends in an effort to preserve liquidity
18.1.2023
Digital Currency Group, a venture capital firm that owns a stake in more than 200 crypto projects, announced the dividend halt while one of its subsidiaries is in financial strife
Monex Mulls Purchase Of FTX's Japanese Subsidiary
17.1.2023
Monex Group, a financial services company based in Tokyo, has shown an interest in buying up the Japanese subsidiary of Sam Bankman-Fried’s defunct FTX crypto platform, according to Oki Matsumoto, the CEO of Monex....
Read More: Monex Mulls Purchase Of FTX's Japanese Subsidiary
Samsung’s Asset Management Arm Launches Bitcoin Futures ETF in Hong Kong
14.1.2023
Samsung’s asset management arm has launched a bitcoin futures exchange-traded fund (ETF). The new actively managed ETF is listed and traded on the Hong Kong stock exchange. It seeks “to provide economic exposure to the value of bitcoin,” Samsung detailed. Samsung’s Bitcoin...
Metamask Launches Ethereum Staking Services via Lido and Rocketpool
14.1.2023
On Friday, the Web3 wallet firm Metamask, a subsidiary of the Ethereum-centric company Consensys, announced the beta launch of ethereum staking features will be made available via Lido’s or Rocketpool’s liquid staking services. Users who want to stake ethereum and earn staking rewards...
SEC Charges Genesis and Gemini — Winklevoss Says Regulator’s Lawsuit Is ‘Super Lame’
13.1.2023
The U.S. Securities and Exchange Commission (SEC) has charged crypto exchange Gemini and crypto lender Genesis Global Capital, a subsidiary of Digital Currency Group (DCG). “Through this unregistered offering, Genesis and Gemini raised billions of dollars’ worth of crypto assets from...
Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence
10.1.2023
According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi...