Cryptocurrency Analysis and News Portal
New York’s state attorney general Letitia James revealed on Twitter that she is suing the former Celsius Network head for defrauding investors out of billions of dollars. Who would have thought that the once-upon-a-buzzing crypto industry would have to fight so many legal battles? While former FTX CEO Sam
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ALSO: Bitcoin rose and most other, major cryptocurrencies spent much of Wednesday in the green. Source
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Derar Islim, interim CEO of crypto market maker and lender Genesis, has sent a letter to clients updating them on the company’s efforts to prop up its finances and resume withdrawals and new lending. The letter, sent on Jan. 4, comes two days after a Twitter exchange between Barry Silbert,
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Claimants allege in a filing that Genesis breached its Master Agreement when it became insolvent in the summer of 2022, while hiding its insolvency from lenders like Gemini. Original Source
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Bitcoin (BTC), the leading cryptocurrency by market value, fell 2% to $16,950, extending a retreat from the one-month high of $18,300 reached Wednesday. Ether (ETH), the second-largest cryptocurrency, fell 4.3% to $1,210, hitting the lowest since Nov. 29, CryptoX data show. Source
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"Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, KuCoin, and Binance. Unfortunately, this means that we will not be able to work with Mazars for the moment," a Binance spokesperson said. The suspension was reported earlier by Bloomberg. Original
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Nigerian customer's of the crypto exchange AAX reportedly attacked the company's office in Lagos and harassed its employees, in a response for the recent halt of withdrawals, according to local reports from Dec. 3. Although it's unclear when the assault happened, the Nigerian Blockchain Technology Association Stakeholders (SiBAN) confirmed the storm
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Crypto lender Genesis and its parent company Digital Currency Group (DCG) allegedly owes $900 million to Gemini's clients, according to a Financial Times report disclosed on Dec. 3 citing people familiar with the matter. The issue derives from the FTX dramatic collapse in November. Crypto exchange Gemini operates a product called
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On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11
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Bybit, the 35th largest exchange by trading volume according to CoinMarketCap, joins Binance, the largest, in trying to turn the industry tumult of the past few weeks into an opportunity. The crypto market has lost two-thirds of its value in a year and has been roiled by the collapse of
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