Regulators failed to regulate, and venture capital firms invested without conducting the proper due diligence. The cryptocurrency tide is flowing out, and it looks more and more like Digital Currency Group (DCG) has been skinny dipping. But let’s be clear: The current crypto contagion isn’t a failure of crypto as a technology or long-term investment.…
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Troubled crypto trading and lending firm Genesis Global has lent out some $2.8bn to various crypto firms, including large loans to its parent company, Barry Silbert’s Digital Currency Group (DCG)…. Read More: Genesis Has $2.8 Billion in Outstanding Loans, Parent Company DCG Was Lent Substantial Amounts – Here’s What You Need to Know Read more…
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Digital asset mining and staking firm Foundry has agreed to purchase two “turnkey” bitcoin mining facilities from Compute North, a bitcoin miner that filed for Chapter 11 bankruptcy protection on Sept. 22, 2022. Foundry says the two data centers have a total power capacity of around 17 megawatts (MW), and the company also has the…
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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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Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational. DCG-Owned Genesis Halts Lending Unit’s Redemptions and New Loans On Nov. 16, 2022, Coindesk reporter Nelson…
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There are still pockets of hope, however, with some companies looking to expand despite the market conditions. The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend. Crypto companies, including crypto exchanges, venture capital…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.______… Read More: ‘Ubiquitous’ Crypto Payments, Custody Exchange Network, DCG and Huobi Get New Arms + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
On May 6, the financial services company Robinhood announced the firm has listed Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). Robinhood customers can now gain access the crypto investment products in order to get exposure to bitcoin or ethereum without actually owning the digital currencies. In Addition to Cryptos, Robinhood Adds Grayscale’s GBTC and…
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On Thursday, the payments and checkout and shopper network, Bolt has announced the firm plans to acquire the digital currency provider Wyre in a $1.5 billion deal. Bolt has explained the acquisition is aimed at bolstering cryptocurrency services and “the opportunity of Web3.” Payments and Checkout Firm Bolt Acquires Wyre The e-commerce platform Bolt has…
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The assets of seven smart contract platforms have been included in the fund: ADA, SOL, AVAX, DOT, MATIC, ALGO and XLM. Digital asset manager Grayscale Investments has unveiled a new cryptocurrency fund dedicated to smart contract platforms excluding Ethereum, underscoring growing investor appetite for alternative blockchain networks. The Grayscale Smart Contract Platform Ex-Ethereum Fund, also…
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