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FTX Reaches Settlement With IRS on $24 Billion Tax Claim


Crypto exchange FTX has reached a settlement with the Internal Revenue Service (IRS), reducing its $24 billion claim to $200 million to be paid within 60 days after the company’s restructuring plan is approved. Additionally, the U.S. tax authority will receive a $685 million lower priority...

Genesis Returns $2.2B in Crypto Assets to Lending Program Participants


Defunct crypto lender Genesis distributed $2.18b worth of crypto to 232,000 users enrolled in Gemini Earn, an interest-accruing lending program. The distribution followed a New York bankruptcy judge approving the Chapter 11 plan last week. The post Genesis Returns $2.2B in Crypto Assets to Lending...

Ethereum Core Developers Plan to Launch Pectra Upgrade by Q1 2025


Ethereum's highly anticipated Pectra upgrade will be released by the end of Q1 2025, following the successful deployment of the Dencun upgrade in March 2024. The post Ethereum Core Developers Plan to Launch Pectra Upgrade by Q1 2025 appeared first on Cryptonews

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