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2023-01-23 07:45:04 UAE Promises Enhances Role Of The Crypto Industry In 2023

According to Thani Al-Zeyoudi, the UAE’s minister of state for international trade, cryptocurrencies will go on to play a “major role” in the worldwide trade of the United Arab Emirates. cryptocurrency market would have a significant impact on future UAE commerce while speaking about it.

Al-Zeyoudi presented a number of updates on the UAE’s trade ties and policies going into 2023 in an interview with Bloomberg on January 20 in Davos, Switzerland, where world leaders are presently assembled for the 2023 World Economic Forum. As he said that the essential thing is to maintain global governance when it comes to cryptocurrencies and crypto enterprises, the minister said in reference to the cryptocurrency industry that crypto will play a big role in UAE commerce moving the future.

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2023-01-22 07:18:02 Genesis Has Stated Their Intention To Emerge From Bankruptcy By May 19

Genesis Global, a lender specializing in encryption, anticipates being able to conclude its bankruptcy processes within the next four months.The company has claimed that it is examining a number of options in order to serve Genesis customers.

According to documents submitted to the United States Bankruptcy Court for the Southern District of New York, cryptocurrency lender Genesis Global Capital is making preparations to emerge from bankruptcy on or around May 19. Gemini users are impacted in some way by the solutions that were developed in Chapter 11. The firm has stated that it is considering a variety of alternatives in order to provide customers of Genesis and users of Gemini Earn with the most favorable conclusion possible.

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2023-01-21 08:13:03 Castle Island, a16z founders back Escape Velocity's $25 million fund

Mahesh Ramakrishnan and Salvador Gala, two 27-year-old Goldman Sachs alumni, have raised $25 million for their crypto-focused venture firm's first fund. the Boston-based firm started fundraising in June last year, when many crypto VCs were licking their wounds.

The pair already have $25 million in hard commitments but the total raised could go up to a $30 million cap before the fund officially closes in the coming weeks, Ramakrishnan said in an interview. Backing comes from founders from several top tier venture institutions such as Andreessen Horowitz (a16z), Castle Island Ventures, Multicoin, Ribbit Capital and Framework Ventures — as well as senior partners from Apollo Global Management, where Ramakrishnan previously worked.

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2023-01-20 10:24:52 DCG subsidiary Genesis Global has filed for bankruptcy in the Southern District of New York.

This is pushing Bitcoin back below 21k

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2023-01-20 08:16:02 SEC Charged 30 Crypto-related Enforcement Actions In 2022

According to a report from Cornerstone Research, the Securities and Exchange Commission continues to prioritize crypto-related enforcement under Chair Gary Gensler, bringing 30 enforcement actions against participants in the digital asset market in 2022.

According to the report, the SEC filed 24 lawsuits in federal courts in the United States and six administrative cases in 2022. Particularly, the number of lawsuits rose from 14 the year before. Initial coin offerings (ICOs) were the subject of 14 of the 30 enforcement actions in 2022, and fraud allegations were included in more than half of these ICO-related enforcement proceedings. Additionally, the SEC filed groundbreaking charges in 2022 relating to insider trading and market manipulation in the cryptocurrency area.

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2023-01-19 10:18:32 Insights and Breaking News on Ethereum and the whole crypto/finance ecosystem.


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2023-01-19 08:14:02 Circle CEO: Digital Assets Need New Regulatory Definitions

According to Reuters, Jeremy Allaire, CEO of USDC stable currency issuer Circle, said in an interview on the sidelines of the World Economic Forum annual meeting in Davos that major markets such as the United States need new regulatory definitions.

Blockchain technology itself should be considered akin to an operating system, while individual use cases should be regulated individually, Allaire said; the new definition will help make it clearer which regulators are involved in which activities. Additionally, Allaire said that the European Union is leading the way in developing regulations for digital assets, and with the region’s Marketplace in Cryptoassets (MiCA) rules in place.

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2023-01-18 08:17:02 Binance.US’s Voyager Acquisition Agreement Final Hearing Will Take Place On March 2

The final hearing for Binance.US’ acquisition of Voyager’s assets will be held on March 2, and the calculation date for the price of user recovery funds has not yet been determined. The UCC sought greater protection in light of the unexpected collapse of FTX.

In response to the process of Binance.US acquiring Voyager assets, the Voyager Unsecured Creditors Committee (UCC) stated on Twitter that after the bidding is completed, stakeholders in the transaction have 28 days to raise objections, and the objection deadline is on February 22, a hearing to finalize the deal is scheduled for March 2, which provides a week to respond to any objections before the hearing. the risks of theft and fraud in the cryptocurrency industry.

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2023-01-09 06:21:02 FTX attempting to recover millions donated to charities

Defunct crypto exchange FTX and its founder Sam Bankman-Fried (SBF) donated millions to charities. Now the firm’s new management is trying to recover the donations, the Wall Street Journal (WSJ) reported on Jan. 8.

Federal prosecutors and regulators allege that SBF, FTX, and its affiliates, which include defunct hedge fund Alameda Research, stole user funds and poured billions of dollars into risky bets that did not pan out. FTX and its affiliates filed for bankruptcy in November 2022. SBF pled ‘not guilty’ to multiple counts of fraud earlier this week, and his criminal trial is set for October 2023.

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2023-01-08 06:33:02 Bonk Inu (BONK) Burns Over 5 Trillion Tokens As Its Price Decreases By 50%

Developers behind the Solana-based memecoin project Bonk Inu burnt almost 5 trillion tokens, or 5% of the entire supply, earlier on Friday. The action claimed to have essentially burnt all tokens reserved for project developers.

As prices fell by roughly 50% in the last 24 hours, 5% of the token supply that is allocated to the team has been burned. In the last 24 hours, CremaFinance exchanges and Gate.io have implemented bonk-based trading events and NFT mints, increasing the memecoin’s usability for traders and holders. Over the last five days, over four million transactions were recorded, indicating that holders were actively participating.

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