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Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens. A mathematician working for Celsius Network’s valuation advisor Stout Risius Ross LLC has confirmed that the fair value of some debtors’ assets and liabilities as of May 31,
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Paul Munter, chief accountant of the United States Securities and Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented could have serious consequences, he said. Crypto firms may engage accountants to “perform
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The Federal Reserve Bank of New York’s Innovation Center (NYIC) has completed its proof of concept of a regulated liability network (RLN) in conjunction with nine large financial institutions and the Swift network. The project created theoretical infrastructure to exchange and settle commercial bank deposit tokens and central bank liabilities
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Coin Cloud was provided an unsecured loan of $100 million from Genesis Global Trading. Original Source
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According to on-chain data, the trading arm of bankrupt crypto lending firm Genesis is operating and moving funds around on the blockchain after three of the company’s entities — Genesis Global HoldCo, Genesis Global Capital LLC and Genesis Asia Pacific Pte. — filed for Chapter 11 bankruptcy on Thursday.See related
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Three of the institutional crypto brokerage's entities filed for Chapter 11 protection late Thursday. Source
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Crypto lending firm BlockFi has announced it will disclose information on its assets and liabilities as well as payments received prior to its bankruptcy filing in November.In a Jan. 9 Twitter thread, BlockFi said it had filed a presentation for its stakeholders detailing plans for future court filings and a
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Disclaimer: The article has been updated to reflect Binance CEO CZ's response to the concerns raised by Kraken CEO Jesse Powell.The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the
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