The plaintiffs claim that Dolic and Ebel began to conduct unauthorized business activities when the corporate governance of its parent company, Enigma, collapsed. The CEO of crypto miner Layer1 Technologies has filed a lawsuit against the firm’s two other board members — including co-founder Jakov Dolic — for allegedly commandeering Layer1’s operations for their own…
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Crypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York. Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York. The firm has estimated liabilities of $1 billion to $10 billion…
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The lending firm claims it’s having “constructive conversations with creditors” and plans to resolve the situation without the need for a bankruptcy filing. Cryptocurrency lending company Genesis has refuted speculation that it is planning an “imminent” bankruptcy filing should it fail to cover a $1 billion shortfall caused by the fall of crypto exchange FTX.…
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Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX. Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September,…
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According to a recent filing, Blackrock, the multi-national investment company based in New York City and the world’s largest asset manager, has plans to create a new exchange-traded fund (ETF) based on metaverse companies. The fund — dubbed the Ishares Future Metaverse Tech and Communications ETF — will track metaverse firms with exposure to virtual…
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Cryptocurrency exchange Nuri has filed for insolvency, reportedly becoming Germany’s first fintech to take the step in a challenging year for startups in the industry. Customer access to the platform’s services and their funds will not be affected, the company assured. Crypto Exchange Cites ‘Lasting Strain on Liquidity’ as Reason for Insolvency Filing Berlin-based crypto…
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