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As investigations loomed, the board of directors of Binance.US voted on whether to liquidate the company but could not come to a unanimous decision, The Information reported. Source
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FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30
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While not perceived as “crypto-friendly” as Silvergate, the tech-forward Silicon Valley Bank did count a number of crypto entities as clients – especially hedge funds and VC firms. According to CryptoX research, Blockchain Capital, Castle Island Ventures, Dragonfly and Pantera all had relationships with the bank. Source
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“Discouraging banks from providing deposit accounts only exacerbates this problem by creating fewer options for any one sector to obtain banking services. The problem is not about crypto, but concentration risks,” Shelia Warren, the council’s CEO, said in a statement. Source
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Anton Shkurenko, whose co-founder Anatoly Legkodymov was arrested in the law enforcement operation along with several other Bitzlato executives, said police had seized the platform’s hot wallet, which contained about 35% of user funds in all cryptocurrencies at the time. Source
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A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December.The stablecoin issuer representative was responding to a Jan. 25 Financial Times article which characterized Circle as having “blamed” the securities
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In its investigation, FinCEN found that Binance was among the top three counterparties having links to Bitzlato.Last week, the US Justice Department shuttered crypto exchange Bitzlato over allegations of money laundering and arrested its founder in Miami. However, the latest report by Reuters suggests that crypto giant Binance had reportedly
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“In order to protect the rights and interests of users, during the system maintenance period, AAX will automatically liquidate all futures positions on the platform,” beginning 4 p.m. UTC Monday and using prices listed on the Binance crypto exchange, the exchange said. Source
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