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Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed. Unredacted
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Bankrupt crypto lending firm BlockFi has reportedly uploaded financials by accident, revealing $1.2 billion in assets tied up with bankrupt exchange FTX and Alameda Research.According to a Jan. 25 report from CNBC, the unredacted filings show that as of Jan. 14, BlockFi had $415.9 million worth of assets linked to FTX,
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European law enforcement authorities have detained four more members of the executive team of crypto exchange Bitzlato, Europol announced. According to the police agency, nearly half of the funds processed through the platform were associated with various criminal activities. Bitzlato Senior Management Targeted in Europe, Exchange Infrastructure Dismantled High-ranking executives of the
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The Ethereum-Polygon ERC-20 bridge is the most active, data on January 23 reveals. Polygon-Ethereum Bridge Dominant As of January 23, there were $2.18 billion of assets locked in the Ethereum-Polygon ERC-20 Bridge, almost twice the value of assets locked between the Ethereum and Arbitrum bridge which, at the time of writing, stood at
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Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to
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A VC fund co-founded by Peter Thiel closed almost all of its 8-year-long bet on Bitcoin last year. The winding down of the crypto investments came right before 2022’s crypto crash in May. Shortly after selling the crypto holdings, Thiel suggested that Bitcoin’s price may rise 100-fold.The fund currently manages more than
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Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are
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The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a
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Embattled crypto exchange FTX fingered a $415 million hack from November as part of assets recovered to pay off creditors.Fallen crypto exchange FTX has identified a $415 million crypto hack as part of the $5.5 billion worth of digital assets for recovery. In a statement, the exchange’s new CEO, John Ray III, said it
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Silvergate Bank noted that they have initiated action to maintain the cash liquidity including the selling of debt securities and wholesale funding.Since the collapse of the crypto exchange FTX, crypto bank Silvergate Capital has come under major fire. As per the latest report, the Silvergate crypto bank has attributed $1
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