It’s a “tricky case,” as it is unknown what obligation these firms had to “completely separate investors,” suggests a crypto lawyer. Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform, suggesting their efforts added an “air of legitimacy” to the now-defunct exchange in a case labeled as “tricky”…
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Companies negotiating with DWS Group include Deutsche Digital Assets, a crypto exchange-traded products provider, and market maker Tradias. Deutsche Bank’s asset management arm is in discussions to invest in two German crypto companies, according to people familiar with the matter. Per a Bloomberg report on Feb. 8, DWS Group CEO Stefan Hoops is currently in talks to…
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Venture capital deals slowed in the second half of 2022 amid the bear market. However, behind the scenes, blockchain startups continue to build. 2023 is off to a tepid start for crypto venture capital, as the industry continues to emerge from a prolonged bear market. But that doesn’t mean there aren’t deals. In January, Cointelegraph…
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The venture firm used its 15 million UNI holding to vote against the deployment using the Wormhole bridge. Venture capital firm Andreessen Horowitz (a16z) voted against a final proposal to deploy Uniswap v3 on the BNB Chain using the Wormhole bridge, the Uniswap DAO forum shows. The governance proposal to deploy the latest Uniswap iteration on…
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How much exposure does BlockFi have to Sam Bankman-Fried failed enterprises? A lot, according to accidentally leaked financials. Crypto lender BlockFi has had a highly tumultuous 12 months. After getting caught up in the Terra fiasco, which resulted in one of the most prolific asset death spirals of all time, the company managed to avoid…
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Q4 2022 saw investment capital inflows of $2.3 billion, continuing the trend since April sparked by the collapse of Terra and subsequent fallout. Cointelegraph Research has analyzed all the deals and trends from venture capital in the blockchain industry during the fourth quarter of 2022. The second half of 2022 saw a dramatic decline in…
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The lack of recordkeeping of FTX coupled with “an auditor no one’s ever heard of” forces the CFTC to ask questions about the mindset of the institutional investors. Amid ongoing investigations around the defunct crypto exchange FTX, the Commodity Futures Trading Commission (CFTC) questions the due diligence conducted by institutional investors and their accountability regarding…
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FTX’s debtors are applying “Herculean” effort to unearth the exchange’s remaining assets. Meanwhile, Sam Bankman-Fried claims FTX US is solvent. Large enterprise businesses spend tons of money keeping track of their financial dealings — think accountants, financial analysts, consultants and enterprise-grade accounting software. Sam Bankman-Fried, meanwhile, used Microsoft Excel. On Jan. 17, in another sloppy…
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Brett Harrison departed FTX US roughly two months before FTX Group filed for bankruptcy, citing “cracks” in his relationship with SBF. The former head of FTX US is launching a new cryptocurrency software company and has raised $5 million from several investors, according to Bloomberg. Brett Harrison, who served as president of FTX US between…
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Due diligence has always been an issue in the venture capital space according to a VC executive, but crypto offers a solution: A public and immutable ledger. Venture capitalists battling with the difficulties of proper crypto firm due diligence should be looking at getting back to the basics — to “trust the chain,” a crypto-focused…
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