Digital Currency Group’s crypto brokerage firm Genesis owes over $3 billion to creditors, pressing the crypto conglomerate to consider selling assets in its large venture portfolio to raise money. According to a report by the Financial Times, DCG, the parent company of Genesis, plans to raise fresh cash after its lending arm took heavy losses in the…
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The fast-paced nature of the crypto markets means investors are under massive pressure to quickly verify whether a video message is authentic or not. Crypto investors have been urged to keep their eyes peeled for “deepfake” crypto scams to come, with the digital-doppelganger technology continuing to advance, making it harder for viewers to separate fact…
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While the former CEO of FTX, Sam Bankman-Fried, awaits his trial at the end of the year, reports indicate that the company donated millions of dollars to early Covid-19 researchers. The research was reportedly used to cast doubt on specific treatments, such as the use of ivermectin and hydroxychloroquine. Controversy Surrounds Former CEO of FTX…
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A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s basketball stadium. The sports venue was branded FTX Arena as part of a multi-year, multi-million dollar sponsorship deal between the now-bankrupt crypto exchange and Miami-Dade County in 2021. FTX Signage and Advertising to Be Removed From Downtown Miami Sports…
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Sam Bankman-Fried’s father reportedly advised his son on matters related to lobbying lawmakers in Washington D.C. and may now be cooperating with prosecutors. Joseph Bankman, the father of former FTX chief executive officer Sam Bankman-Fried, has reportedly hired an attorney as the criminal case against his son moves forward. According to a Jan. 12 report…
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Former FTX CEO Sam Bankman-Fried has released an extensive Substack article talking about how his crypto empire collapsed, once again putting the blame on rival crypto exchange Binance. … Read More: Bankman-Fried Continues to Blame Binance for the Collapse of His Crypto Empire Read more »Sign up for e-EUR – the progressive stablecoin
The former FTX leader denied any involvement In regards to the allegations Alameda had used FTX customer funds, and said he was pressured into naming John Ray as CEO. Former FTX CEO Sam Bankman-Fried has largely denied the allegations against him in a ‘pre-mortem overview’ of the crypto exchange’s insolvency. In a Jan. 12 post…
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As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange’s token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold. FTT Token Jumps 28% Rising Above…
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Barry Silbert, CEO of Digital Currency Group (DCG), has released a letter to shareholders in response to a recent open letter from Gemini CEO Cameron Winklevoss. The letter, issued Tuesday by Winklevoss, calls for the DCG board to force Silbert to step down as CEO. Silbert shared his letter on Twitter and said he had…
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Previous reports suggested that FTX saw losses peak at nearly $9 billion in total liabilities. According to an attorney familiar with the matter, troubled cryptocurrency exchange FTX has “recovered $5 billion in cash and liquid cryptocurrencies.” However, the exchange is still “working to rebuild transaction history,” and the total amount of customer shortfall is “still…
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