InvestmentTradingUpdates

2022-12-13 10:11:03 FTX's stranded customer funds draw attention from distressed asset investors

Credit investment firms are looking to buy claims from bankrupt crypto exchange FTX's clients who could otherwise wait years for bankruptcy courts to decide payouts. Opting to collect money now means settling for massive losses.

Apollo Global Management and Attestor are among the better-known investors to have held conversations on buying claims, according to a person familiar with the discussions. Niche investment firm 507 Capital has already purchased several claims from hedge funds that wanted quick exits from FTX even if it meant selling out at less.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-12 07:15:06 American crypto engineers are the highest paid globally, study reveals

New research has indicated that despite the extended cryptocurrency bear market, engineers in the sector are still earning marginally high compared to peers in the technology space. However, crypto engineers from select regions are making more than their counterparts.

The average salary for European blockchain developers is $112,476, with the median wage coming in at $93,870. Asia’s median wage stands at $85,000. Interestingly, Asian engineers earn twice less than North American counterparts at $70,919 on average. The findings also noted that the global Web3 and blockchain.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-11 10:41:02 The Block CEO resigns after failure to disclose loans from Bankman-Fried’s Alameda

The Block Chief Executive Officer Michael McCaffrey resigned after failing to disclose a series of loans from disgraced former FTX head Sam Bankman-Fried’s Alameda Research. He was the only person with knowledge of the funding at the company.

McCaffrey received three loans in total, the first of which was in the amount of $12 million and was used in 2021 to buy out other investors in the crypto news, data and research provider. He took over day-to-day operations as the CEO at that time. A second $15 million loan in January was used to help fund day-to-day operations.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-10 07:47:02 Billion-dollar Aptos Labs lawsuit resolved, Glazer says

Shari Glazer, who sued Aptos Lab CEO Mo Shaikh and claimed she had been cheated out of of an equity stake in the new firm, now says the case is resolved. Glazer had claimed Aptos CEO Mo Shaikh conspired to deprive her of a stake in the company.

Glazer’s announcement comes roughly two months after a judge denied Shaikh's motion to dismiss the lawsuit. In October, the court did, however, dismiss four legal claims, including fraud while allowing the case to proceed on the merits of determining if there had been a breach of agreement, unjust enrichment, or if Glazer was entitled to a 50% stake in Matonee, also known as Aptos Labs.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-09 10:07:02 Feds have contacted former FTX employees as part of investigation

Federal law enforcement is in touch with former FTX employees as part of a criminal investigation into the failed exchange and its sister hedge fund Alameda Research. The investigative outreach is part of a broader probe into the company’s operations.

Two former FTX employees have been contacted by federal authorities as part of what they believe to be a broader effort to collect information about the inner workings of the failed exchange and hedge fund, they confirmed to The Block. The contact is still at the request for information stage, rather than court-issued subpoenas for records or other information. The employees did not provide details on what information authorities sought.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-08 17:12:44 Booming crypto projects and guaranteed allocations of $200+? WePad offers it all!

WePad is one of the fastest-growing launchpads in 2022

In the first week of operation, it entered the TOP-25 DeFi projects on BNB Smart Chain. The secret behind WePad's success blast lies in its tech know-how and strong market expertise.

The team developed a unique allocation model that allows users to have large guaranteed allocations on a first-come, first-served basis. During the latest IDO on WePad, the allocations started from $200.

The IDO on WePad with the Medieval Empires project will take place on December 12 at 11 am UTC!

These are 3 crucial steps you need to follow:
Stake more than 10,000 WWY on WePad
Pass KYC
Check the box on the Medieval Empires page and confirm your participation in IDO: https://bit.ly/3UEl8Lt

Why should I register for IDO right now?
Allocations are not reserved! If you don't buy them out now, someone else surely will!
Allocations on WePad are guaranteed. You’ll get it if you stake more than 10,000 WWY ($120 at the current exchange rate).

Proper and reliable projects — together with WePad!

Our website: https://wepad.io
Telegram: https://t.me/wepad_en
Twitter: https://twitter.com/WePad_IDO Open / Comment

2022-12-08 10:55:03 Hedge fund Fir Tree files lawsuit against Grayscale: Bloomberg

Hedge fund Fir Tree Capital Management is suing crypto investment fund Grayscale Investments for information to investigate potential mismanagement and conflicts of interest, Bloomberg News reported, citing Delaware court documents.

Fir Tree wants to use the the information to push Grayscale to address the large discount it trades at relative to the bitcoin it holds by lowering fees and resuming redemptions, Bloomberg cited sources as saying. The complaint also alleges that Grayscale investors have been harmed by "shareholder-unfriendly actions.".with sister firm Genesis halting client withdrawals last month.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-07 05:45:05 Amber Group says it's 'business as usual' amid reports of more layoffs

Digital asset platform Amber Group is reassuring clients and stakeholders that it is “business as usual” at the firm following reports that the company laid off staff. The Hong Kong-based firm laid off "hundreds" of employees in this latest round, according to Wu Blockchain. The company also cut 10% of its workforce.

Chinese-language social media posts have raised concerns that former employees have not received agreed-upon compensation following the layoffs. Employees also said they have had difficulties contacting senior management, including CEO Michael Wu. Amber Group did not respond to a request from The Block for comment. Amber Group did not respond to a request from The Block for comment.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-06 11:46:02 Troubled crypto lender Genesis owes creditors at least $1.8 billion: CoinDesk

Troubled crypto trading and lending firm Genesis owes its creditors at least $1.8 billion, CoinDesk reported Sunday.The Financial Times first reported on Saturday that Genesis owes customers of Gemini's Earn program $900 million.

Genesis halted client withdrawals last month after taking large hits from FTX and earlier from Three Arrows Capital. The firm has been trying to raise funds and has hired investment bank Moelis & Company to explore its options, which include a potential bankruptcy. U.S. state securities regulators are reportedly investigating Genesis. Alabama is said to be one of the states that is looking into whether Genesis.

Source

https://t.me/InvestmentTradingUpdates Open / Comment

2022-12-05 10:59:02 Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware

Russia’s market for specialized crypto mining equipment has been seeing high demand over the past couple of months, with buyers attracted by the low price tags. Russian experts also predict an increase in the supply of used coin minting hardware as large foreign companies leave the industry.

Demand for powerful computing devices designed to mint bitcoin has surged in Russia during the fourth quarter of the year, spurred by their low prices amid declining crypto markets, the Russian business daily Kommersant reported. The country’s cheap electricity rates and expectations for a higher supply of second-hand miners have played a role as well.

Source

https://t.me/InvestmentTradingUpdates Open / Comment