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2023-01-10 12:46:02 Genesis Owner DCG Faces SEC, DOJ Probes: Report

Federal prosecutors in New York, along with the SEC, are investigating Digital Currency Group (DCG) for internal transfers at its lending subsidiary Genesis, Bloomberg reported on Friday.

DCG has received requests for documents and interviews by prosecutors in the Eastern District of New York, the report states, citing people familiar with the investigation. The SEC is also separately investigating DCG, according to an unnamed source who spoke with Bloomberg. The investigations have not yet been made public by authorities and are just beginning to take shape.

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2023-01-09 11:18:02 US trustee objects to FTX's planned sale of LedgerX and other units: Reuters

A U.S. trustee filed an objection to FTX's plan to sell the company's LedgerX as well as FTX units in Europe and Japan.FTX filed for bankruptcy protection in November, amid mounting debt from failed investments and alleged mismanagement of funds by senior executives.

The company had stated previously that it planned to sell its LedgerX, FTX Japan and FTX Europe businesses. However, U.S. Trustee Andrew Vara filed an objection to these sales on Jan. 7, according to Reuters. In his filing, the federal bankruptcy watchdog requested that an investigation be conducted prior to the sale of the units in order to ascertain whether they have access to information related to FTX's bankruptcy proceedings.

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2023-01-08 10:43:07 Cash Blockchain News pinned « Insights and Breaking News on Bitcoin and the whole ecosystem. t.me/Bitcoin_Insights» Open / Comment

2023-01-08 10:43:05 Insights and Breaking News on Bitcoin and the whole ecosystem.

t.me/Bitcoin_Insights Open / Comment

2023-01-07 12:54:02 Ethereum Developers Push Ahead With Shanghai Upgrade to Enable Withdrawals

During their first virtual meeting of the year, Ethereum developers said they are pushing ahead with a key software upgrade that would let people withdraw Ether tokens used to operate the blockchain network.

The developers previously said in December that they are hoping to roll out the upgrade in March. While many developers wanted to include several other features into the upgrade, called Shanghai, a slew of those are being delayed in order to enable token withdrawals as quickly as possible. that would let people withdraw Ether tokens used to operate the blockchain network.

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2023-01-06 12:49:02 Bitcoin Miner Core Scientific Reaches Agreement To Shut Off Celsius Mining Rigs

Core Scientific will shut off thousands of Celsius mining rigs, after the two bankrupt firms finally came to an agreement after months of dispute. At one point, the company’s lawyers said that Core was losing $53,000 per day on the hosting agreement.

Following Core’s own plunge into bankruptcy in December, the two companies have now agreed to shut off 37,000 Celsius mining rigs. In a bankruptcy hearing on Tuesday, a lawyer for Celsius said that a deal to fully end the relationship was being finalized. The company said when it filed for bankruptcy last month that it would continue operations throughout the process.claimed it could use the additional capacity to generate as much as $2 million a month.

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2023-01-05 10:54:02 Core Scientific will cut power to 37,000 Celsius miners: Bloomberg

Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. Bloomberg first reported the news. The agreement marks the end of a dispute that has been ongoing since last October.

Celsius owes Core $7.8 million related to power costs for the miners through November 2022, according to court documents. Core itself filed for bankruptcy protection in December, due in part to Celsius' bankruptcy filing and subsequent nonpayment as well as insufficient cash flow to manage its debts. when Core said it would seek a resolution on the matter in court.

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2023-01-04 12:41:02 Lido Finance Up 8% After Overtaking MakerDAO’s TVL

Lido Finance’s LDO token is up by almost 8% in the past 24 hours, reaching a weekly high of $1.26 earlier today. LDO's price surge comes after the liquid staking protocol overtook DAI creator MakerDAO to become the largest DeFi protocol by total value locked (TVL) earlier this week.

Over the past month, MakerDAO’s TVL has slipped by over 8% to $5.93 billion, according to data from DeFiLlama. In the same period, Lido Finance’s TVL retreated by around 2% and now stands at $5.99 billion, resulting in Lido Finance taking the top spot in terms of TVL. According to data from CoinGecko, LDO is currently trading at around $1.24 after retreating from its weekly high.The higher the TVL, the more popular the decentralized finance (DeFi) protocol is.

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2023-01-03 07:39:02 US Authorities to Probe Suspicious Alameda, SBF Wallet Transfers

SBF, however, denied having access to any of the said wallets. Although the disgraced founder of both FTX and Alameda Research is currently on bail under strict rules, there were multiple suspicious transfers of crypto assets from wallets linked to him or his former empire.

According to Bloomberg, these suspicious price movements have attracted the attention of US federal prosecutors, and they are planning to open an investigation. However, the Bloomberg report seems to be focusing just on the Alameda-linked transfers, and SBF has not commented on the other ones yet. broke his three-week Twitter silence, claiming he had nothing to do with these transfers.

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2023-01-02 10:37:02 Bosses of Fraudulent South Korean Crypto Exchange V Global Jailed

South Korean authorities appear to have tightened their control over the digital asset space. As such, two high-ranking execs, named Mr.Yang and Mr. Oh of the fraudulent crypto exchange, V Global, were sentenced to eight years and three years, respectively.

During its one year of operation, V Global managed to rake in nearly 50,000 investors by promising users 12 million won in a commission similar to a pyramid scheme. Some executives were nabbed while most employees were under investigation for violating the Act on the Regulation of Similar Reception Act, fraud, and violation of the Door-to-Door Sales Act.

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