Crypto | Bitcoin | Blockchain

2023-01-22 06:51:02 Cumberland Disputes Claims On Genesis Totaling $18 Million

Cumberland DRW, a cryptocurrency trading business, objected to the amount contained in Genesis Global Capital. Cumberland was owed $18 million by Genesis Global Capital, according to the company. has sent funds to Cumberland’s counterpart in order to satisfy the debt.

Cumberland DRW announced in November 2022 that it has settled its $18 million fully secured debt to Genesis. Since then, Genesis has been told that it has completed the liquidation of its cryptocurrency and handed over cash to Cumberland’s counterpart to settle the loan, which was described as “misleading and incorrect information” in the Genesis bankruptcy filing, with an outstanding balance of approximately $46,064.34 and no additional exposure to Genesis.

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2023-01-21 07:36:03 Binance-backed Chinese news outlet Marsbit has sights on CoinDesk

Wang Feng, founder of Chinese crypto news outlet Marsbit, said Marsbit is willing to work with other companies to buy crypto news outlet CoinDesk. He added that he would be interested to speak to any investment funds or companies interested in partnering on this.

Crypto conglomerate Digital Currency Group (DCG) is currently looking to sell CoinDesk as it faces troubles with its other subsidiary Genesis, which filed for Chapter 11 bankruptcy on Jan. 20. The news site has retained investment bankers at Lazard to explore a potential sale, according to the Wall Street Journal. Cardano founder Charles Hoskinson, who has expressed interest in buying CoinDesk, said in a YouTube video that the current asking price for the news site is around $200 million.

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2023-01-20 07:07:02 The Deployment Of Ethereum Smart Contracts In 2022 Increased By 293%

A new report from Alchemy shows that compared with 2021, the number of smart contracts deployed on Ethereum increased by 293% in 2022, reaching a growth rate similar to last year’s peak. the FTX crash caused a large amount of money outflow.

According to the report, the number of Ethereum smart contracts deployed in the fourth quarter of 2022 increased by 453% quarter-on-quarter to 4.6 million. In addition, in this quarter, the deployment of smart contracts on the Ethereum Goerli testnet increased by 187%, a year-on-year increase of 721%, reaching a record high of 2.7 million. Data was gathered for the research from a number of sources, including Dune Analytics, DappRadar, and Github, among others.

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2023-01-19 07:28:02 Japan Asks EU and US To Strengthen Strict Crypto Supervision After FTX Crisis

Japan is asking authorities around the world to approach cryptocurrencies with the same rigor that they do banks. Japan’s rules have helped to shield investors, who are poised to be able to withdraw their funds from FTX’s local subsidiary next month.

According to Bloomberg News, Mamoru Yanase, deputy director of the Strategic Development and Management Bureau of the Japanese Financial Services Agency. Yanase also said that Japanese regulators have started pressing regulators in the U.S., Europe, and elsewhere to subject cryptocurrency exchanges to regulations similar to those faced by banks and brokerages. the collapse of the FTX exchange and Sam Bankman-Fried’s empire.

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2023-01-18 07:19:02 Breaking: 3AC Founders Are Raising $25 Million Funding For New Project “GTX”

3AC founders are raising $25 million in a new project in partnership with cryptocurrency exchange CoinFlex, a crypto exchange which is in the process of restructuring, to introduce investors to a new crypto exchange focused on authentic trading take ownership.

According to Wu Blockchain, The founders of 3AC, Zhu Su and Kyle Davis, and the two founders of CoinFlex have launched a new project, GTX, raising a seed fund of $25m to trade claims from creditors. Su Zhu also confirmed the above information. However, due to the busy launch schedule, it is impossible to share details. Su Zhu and Kyle Davis hope to raise $25 million for a new project from investors to bring the product to market within the next 2-3 months.

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2023-01-17 07:44:02 Former FTX US President Accuses SBF of ‘Gaslighting and Manipulation’

Former President of FTX US Brett Harrison shared details of his tenure under Sam Bankman-Fried on Saturday, distancing himself from the disgraced crypto mogul who’s been charged with a series of financial crimes.

Harrison stepped down from FTX’s U.S. division in September, just weeks before Bankman-Fried’s crypto empire began to crumble—but says his relationship with the former CEO had begun to fall apart long before that. “My relationship with Sam Bankman-Fried and his deputies had reached a point of total deterioration, after months of disputes over management practices at FTX,” he wrote.

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2023-01-16 08:17:02 Bitwise Predicted Ethereum Will Have Many New Achievements In 2023

In the Bitwise Investor Letter’s 10 Crypto Market Predictions for 2023, Ethereum will have many new achievements this year. Will the market trade sideways for some time before entering the next bull phase?.ETH will be deflationary in 2023, with the total circulating supply decreasing by at least 1%.

One of the predictions said that Ethereum would grow strongly in the next year. Specifically, ETH will be deflationary in 2023. The total circulating supply will decrease by at least 1%. On the other hand, after the Shanghai Upgrade, it will be possible to withdraw the staked ETH, from which it is possible to increase the amount of ETH staked by at least 50%. Therefore, in 2023, expect the total amount of ETH staked to increase by at least 50% by the end of the year.

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2023-01-15 13:16:02 Bitfarms Looking To Avoid Default On BlockFi’s $20 Million Loan

Bitcoin miner Bitfarms may have stopped paying installment payments on a loan from insolvent cryptocurrency lender BlockFi already or may do so in the future, thus defaulting on the loan, the company warned in a news release on Friday.

Backbone Mining Solutions from Bitfarms signed a $32 million equipment financing agreement with BlockFi last year. The 20-megawatt active crypto mining facility owned by Bitfarms in Washington state is run by BMS. The outstanding principal and interest on the loan, which totals nearly $20 million, is secured by certain BMS assets with a market value of around $5 million. As a result, the miner is exploring loans with better terms and lowering its commitments.

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2023-01-14 07:02:02 Nexo sees withdrawals of $158 million in day after Bulgaria raid

Crypto lender Nexo has seen withdrawals worth more than $158 million in the last 24 hours after Bulgarian authorities raided its offices. according to real-time attestation provided by Nexo's auditor Armanino on its website.

Nexo co-founder Antoni Trenchev told The Block that the withdrawal number is about 2% of the firm’s total assets under management. It was not clear if the attested numbers included only Nexo customers' bitcoin holdings or all their crypto holdings converted into bitcoin. Trenchev did not comment on it, but said that Nexo's partnership with Armanino was still on, although the latter reportedly announced exiting the crypto space last month.

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2023-01-13 07:49:02 Ondo Finance Helps Stablecoin Holders More Investment Options In US Government Bond

Holders of stablecoins can now invest in bonds and US Treasury securities thanks to a tokenized fund developed by Ondo Finance, making traditional capital markets more accessible to investors who collectively hold more than $100 billion of non-yield-bearing stablecoins.

US Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and. High Yield Corporate Bond Fund (OHYG) are three of the institutional-grade yield offers that Ondo Finance will offer upon launch. OUSG will invest exclusively in short-term US treasuries, initially via the Blackrock US Treasuries ETF (SHV). OSTB will invest in short-term investment-grade corporate bonds, initially via the PIMCO Enhanced Short Maturity Active ETF (MINT).

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