Cryptocurrency Analysis and News Portal
The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan.Bankruptcy Judge Michael A. Kaplan approved BlockFi's third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the
Read More
South Korean Bitcoin lender Delio is reportedly preparing for an administrative lawsuit against regulators for the wrong interpretation of law leading to an investigation and hefty fine against the crypto lending firm.Bitcoin lender Delio said the allegations of fraud and embezzlement levied by the Financial Service Committee (FSC) are baseless,
Read More
“Steve has been a serial entrepreneur and investor for over 25 years, founding and operating companies ranging from internet infrastructure, cloud software, communications, and crypto,” according to a brief resumé included in the court documents, which described him as the proposed CEO of the Delaware corporation, as yet unnamed but
Read More
EquitiesFirst is a private lending platform that owed Celsius some $439 million worth of cash and bitcoin (BTC) as of July 2022. Celsius first took collateralized loans from the lender in 2019, but failed to return collateral in 2021, CryptoX reported earlier. Wednesday's filing named both the company and its
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BlockFi, the now-defunct crypto lending company, has filed a court application to move “trade-only” assets from users’ accounts to stablecoins. This move follows the company’s ongoing efforts initiated in August to return users’ funds after previously closing
Read More
The extra payout has drastically bitten into Maker’s profits, Kunal Goel, analyst at Messari noted in a report. “Higher rates on higher deposits ballooned the protocol’s interest expense [and] has dried up profit expectations,” he wrote. The too-high rate also opened up opportunities for arbitrage, Goel added. Source
Read More
Exactly Protocol, a decentralized credit market on the Optimism (OP) blockchain, has been targeted by a bridge exploit worth as much as $12 million. Source
Read More
Creditors will be sent ballots to vote on the plan, involving the sale of assets to a consortium including Arrington Capital and miner U.S. Bitcoin Corp, between Aug. 24 and Sept. 22. Returns for creditors – which will largely be done in bitcoin (BTC) and ether (ETH) – could range
Read More
Demand for blockchain-based T-bill offerings has been steadily rising as the yield on U.S. government debt, widely considered as risk-free, surpassed yields in decentralized finance (DeFi). Digital asset firms, crypto investment funds and protocol treasuries often hold substantial amount of cash in stablecoins. Tokenized Treasuries offer them a shield from
Read More
Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company.The deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut
Read More