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Troubled cryptocurrency lending firm Babel Finance has more time to repay debts to creditors like Deribit after suspending withdrawals in 2022.A court in Singapore has extended creditor protection for Babel Finance by another three months, Bloomberg reported on April 18.According to Babel co-founder and former CEO Flex Yang, the moratorium
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Amber Group, a Singapore-based crypto lender, is considering selling its Japanese unit as part of its plan to focus more on institutional business rather than retail business, Bloomberg reported. According to Annabelle Huang, Amber's managing partner, the firm is currently evaluating options for its Japan operation, including a potential sale. Currently,
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Amber Group could sell its subsidiary in Japan to focus more on institutional rather than retail businesses. Leading global digital asset platform Amber Group is considering a possible sale of its Japan subsidiary amid other plans. The exchange liquidity provider and validator also seeks to apply for a license in Hong
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The decision, which is subject to a bankruptcy court’s approval, comes after a DFPI investigation found the now-bankrupt crypto lender “failed to provide timely notification” to borrowers that they could stop repaying their loans after the company had paused withdrawals on its platform. As a result, BlockFi’s California borrowers remitted
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All social media presence was deleted and Kokomo tokens fell 95%. Source
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The majority of the 6,376 mining rigs BlockFi sold to U.S. Farms & Mining are Bitmain Antminers, according to a previous filing. They are spread across the U.S. in Texas, Georgia, Kentucky and North Dakota, although the company also has some in Norway. About 400 of the machines had come
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Christine Okike said BlockFi remains safe and looked to access significant cash held with Silicon Valley Bank yesterday. Despite the Silicon Bank exposure, a BlockFi bankruptcy lawyer maintains that the digital asset lender is safe and in no immediate danger. The lawyer, Christine Okike, stated that the embattled New Jersey-based company also
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Enough progress has been made to suggest the plan to set up a new recovery corporation should be the only one on the table, Martin Glenn said Source
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An alleged ethical hacker has drained $1.59 million from the decentralized finance (DeFi) lending platform Tender.fi, leading the service to halt borrowing while it attempts to recoup its assets.Web3-focused smart contract auditor CertiK, and blockchain analyst Lookonchain, flagged an exploit that saw funds drained from the DeFi lending protocol on
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