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Providing insurance for the specialized equipment used to mine bitcoin might seem similar to the straightforward type of property-risk cover for data centers and the like, said Evertas CEO J. Gdanski. But a lingering fear of crypto generally, combined with several variables that affect the value of mining rigs, make
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FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, CEO John Ray said in the FTX Debtors’ second interim report, released June 26. The extensive commingling of funds complicates their efforts, however.The FTX Debtors, made up of FTX and affiliates,
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Twitter reportedly made another interest payment, only the second of an expectedly long schedule of debt repayments expected from the company. Twitter Inc has made its second interest payment as part of the $12.5 billion debt CEO Elon Musk used to buy the social media giant in 2022. Twitter paid a group
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Despite the lack of clarity in the rules, the SEC chairman has reiterated that any attempt to create new laws will unsettle the status quo. Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC) has revealed in his latest hearing with the House Appropriations Committee that the
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On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle significant volume” and that the firm
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The company plans to use corporate resources to fill the gap, including external capital. Source
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USD Coin (USDC) issuer Circle plans to use "corporate resources" to cover the shortfall on its reserves following Silicon Valley Bank's shutdown, said the company in a statement on March 11. According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States,"
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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lending platforms may claim to custody investors’ crypto, that does not mean they are qualified custodians.” Gary Gensler Proposes Including Crypto in
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The amendments to the package, which is designed to ensure that traditional institutions issue enough capital to sustain lending levels, are set to be voted on by EU Parliament’s Committee on Economic and Monetary Affairs on Tuesday. The text seen by CryptoX asks the European Commission to propose a bill
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The hackers that targeted Harmony network in a $100 million hack last year have bridged their ill-gotten gains from Bitcoin to Avalanche, Tron and Ethereum, according to on-chain analysis by blockchain sleuth MistTrack. Source
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