Crypto Miami

2023-10-12 18:00:42 Federal Judge Orders Mediation for BlockFi and Three Arrows Capital Dispute Over $284 Million Payments

A US bankruptcy judge, in order to resolve the legal battle over a significant $284 million claim by bankrupt crypto hedge fund Three Arrows Capital (3AC) against crypto lender BlockFi, has ordered them to enter mediation.

The mediation process, set to commence in January next year, will be facilitated by a neutral third party and is intended to provide an opportunity for BlockFi and Three Arrows Capital to reach a mutually agreeable settlement. If mediation fails to yield an agreement, the case is slated to proceed to trial in February 2024.

The cause of this dispute is centered around what are termed "preferential payments" made by 3AC to BlockFi before the declaration of bankruptcy.

Preferential payments, also known as preferences, are payments made to creditors ahead of a bankruptcy filing, allowing the creditor to collect more than they would have received in a bankruptcy proceeding.

In a confidential report earlier this year by 3AC's liquidator, Teneo disclosed intentions to reclaim a substantial $1.2 billion from Digital Currency Group (DCG) and BlockFi. Of this, the claim against BlockFi stands at $284 million. BlockFi's bankruptcy estate has countered 3AC's claim by alleging that the hedge fund engaged in fraudulent activities. Open / Comment

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2023-10-09 19:01:41 India to Push Crypto Regulation Talks at Final FMCBG Meet in Morocco

Finance ministers and central bank governors are all set to meet for the final time under India’s G20 presidency on October 12 and 13 in Marrakesh, Morocco.

The roadmap for crypto regulations is expected to be one of the major key agendas during the meeting. India will seek to ensure that the issues that were part of the New Delhi Declaration are pushed thorugh, including a crypto regulatory framework.

Before the 4th G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, Indain Finance Minister Nirmala Sitharaman chaired a meeting with the heads of Multilateral Development Banks (MDBs) and co-conveners of the G20 independent expert group, NK Singh.

Finance ministers and central bank governors are expected to discuss the roadmap intended to lay the foundation for a well-coordinated and all-encompassing policy and regulatory framework specifically tailored for crypto assets. Open / Comment

2023-10-09 15:00:10 Our friends at Bets.io are holding yet another amazing giveaway, and this time it’s bigger, badder and radder! Yeah, you heard it right — this time it’s five iPhones 15 Pro 256 GB and twenty five $200 cash prizes!

Entering it is a piece of cake :

1. First, you gotta have a Bets.io account
2. Then, subscribe to their Telegram channel — you don’t want to miss this kind of events, duh
3. Subscribe to Instagram and Twitter while you are at it
4. Send their Telegram bot a message and follow the instructions

And you are golden — all you have to do now is wait until October 31st

As for additional conditions: no double entry, only legit accounts and if we can’t send you the iPhone, we’ll provide its cash equivalent. All the cash prizes will be credited to your account.

Good luck and have fun at Bets.io! Open / Comment

2023-10-06 22:00:33 South Korean Debt Collectors Coming for Crypto Holders

South Korean debt collectors are now seizing crypto in insolvency cases – and may soon be granted even more power to confiscate coins.

Per Hanguk Kyungjae, the Korea Deposit Insurance Corporation (KDIC), a firm that operates under the Financial Services Commission (FSC), has begun “seizing cryptoassets for the first time” this year.

The KDIC typically gets involved in public and private insolvency cases. It often intervenes when bankrupt individuals and firms declare an inability to repay depositors.

It also offers deposit insurance programs for businesses of all sizes. The KDIC submitted data at the request of MP Kim Han-gyu, a member of the National Assembly’s Political Affairs Committee.

The data shows that the KDIC identified crypto holdings in 29 insolvency cases in the first half of 2023. Open / Comment

2023-10-06 18:01:10 A new exchange for the 1.9 billion Muslim community and ethical finance lovers called Haqqex is launching in October

Haqqex is the only platform where Islamic finance principles blend smoothly with digital asset trading. It is powered by HAQQ Network and its native token Islamic Coin ($ISLM), which recently raised $400M in funding during the bear market.

The official launch of Haqqex is scheduled for the end of October 2023. But in the meantime everyone can participate in the pre-launch registration and get a 20 ISLM bonus.

Haqqex aspires to introduce exclusive features like algo trading, commodities trading, and P2P exchanges, aiming to serve the expansive global Muslim population of over 1.9 billion plus the crypto community. It enables users to buy, sell, and trade in cryptocurrency assets in compliance with Islamic principles.

Before the official launch users have a unique opportunity to get 1000 ISLM by referring Haqqex to friends. Check their web-site to know more about Haqqex and get up to 1000 ISLM. Open / Comment

2023-10-03 21:01:49 Ex-Chairman of Canaan Jack Kong Faces Crypto Project Hack From Insider

Jack Kong, former chairman of China-based computer hardware manufacturer Canaan, has disclosed a hack of a cryptocurrency project that he has invested in.

The hacker was reportedly an insider from the crypto project and fled to Thailand following the crime. “The hacker fled to Thailand but he was arrested and returned to China within 48 hours after working with the Chinese police,” a Tweet by Wu Blockchain read.

“The insider hacker has been lurking for a long time, secretly photographing passwords and changing hardware wallets.”

Kong wrote on Oct. 1 that the crypto project imToken immediately investigated the issue and initially believed that it might have been phished.

“At first, there was no suspicion that it was an internal crime. Even if imtoken gives a conclusion that it excludes the possibility of fake wallet clients, authorized fraud, and Lido phishing, it is impossible the team has no particular target of suspicion.” Open / Comment

2023-10-03 17:00:08 ​DWF Labs Invested $7.5 Million in AirDAO for Explosive Growth

DWF Labs has invested $7.5 million into AirDAO to increase adoption of the AirDAO’s ecosystem. This is an expansion of projects’ partnerships, following DWF Labs’ recent $2 million investment in September 2022. The current investment comes with a one-year cliff and a 36-month vesting schedule. As a part of the deal, AirDAO provided a 1.5 billion AMB loan over 36 months to enhance liquidity across diverse avenues.

What's in it for AirDAO and the community?

Rapid Governance Development: AirDAO expects swift progress on the governance roadmap, reinforcing decentralized decision-making.
Global Expansion: AirDAO will explore Southeast Asia and Africa, broadening its impact.
Talent Powerhouse: A specialist team will innovate and attract talent to fuel the project's growth.
Stronger Brand: AirDAO is improving its global social media presence, ensuring better community engagement.
Long-term Alliance: DWF Labs' investment signals unwavering support for AirDAO's ambitious goals.
DWF Labs will amplify AirDAO's presence in regions like Turkey and co-host an event during Binance Blockchain Week in Nov 2023.

Moreover, the sides are establishing a $1 million ecosystem investment fund to inspire projects to launch on AirDAO, driving innovation.

This partnership accelerates AirDAO's vision for DeFi.

DWF Labs, a global digital asset market maker, and web3 investment firm, boasts a high-frequency trading presence on 60+ top exchanges. This robust backing propels AirDAO to new heights.

AirDAO is a community-governed layer-1 blockchain and Web3 ecosystem powered by AMB — the blockchain's native token. AirDAO brings the benefits of Web3 to a global audience with a suite of powerful products in an intuitive, all-in-one interface that makes DeFi more accessible for all

DYOR: Twitter | Telegram| Website Open / Comment

2023-09-30 17:30:34 Georgia Lists Nine Tech Providers Including Ripple and Bitt For its Next Stage CBDC Pilot

The National Bank of Georgia (NBG) has shortlisted nine companies to compete as technology partners for the nation's central bank digital currency (CBDC) project dubbed Digital GEL.

The national bank of the Caucasian nation announced Thursday that it will introduce “a Limited Access Live Pilot Environment” to test its CBDC on the technology capabilities and other potential application areas via use cases.

“We are delighted to announce that after a long-lasting research stage and careful consideration, NBG has shortlisted 9 companies that have demonstrated sufficient technology potential, maturity, capacity, relevant experience, and desire to join our on-field exploration.”

San Francisco-based crypto payment giant Ripple, digital asset management system Bitt, blockchain platform Broxus, and several fintech firms have been selected to participate in the second phase of testing of its Digital GEL project.

Ripple’s CBDC advisor, Antony Welfare said that the Digital GEL is “entering a new stage” and the National Bank of Georgia is planning “to create a real pilot environment with limited access.” Open / Comment

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