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Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors – Bitcoin News

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the

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First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B – Bitcoin News

According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across

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Coinbase extends request for builders to expand ecosystem via Base Fund

Coinbase’s layer-2 platform, Base, is extending a request for builders to work on a safer DeFi, altcoins, on-chain reputation, and on-chain Limit Order Book(LOB) exchange through its eco-fund. Bringing expansion to Base Base recently announced the launch of the Base Ecosystem Fund, a capital pool for investing in early-stage projects building on its

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Animoca denies reports of $200M cut to Metaverse fund and valuation drop to $2B

Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its Metaverse fund target by $200 million, or 20% to $800 million amid volatility in the crypto market and instability in the banking sector. The firm also down-played suggestions that its valuation has plummeted

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Sushi DAO to Set up Defense Legal Defense Fund; Project Receives Unspecified US SEC Subpoena – Defi Bitcoin News

Sushi, the Web3 exchange that pivoted into a decentralized autonomous organization (DAO), is seeking to organize a legal defense fund. If approved, the proposal, which already is available for voting, will put $3 million USDT as part of a fund to defend itself from legal actions against the organization and

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