Category: Crypto News
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FTX: These are the 4 highlights of the bankruptcy process so far
This week the bankruptcy process of the Sam Bankman-Fried FTX exchange began in Delaware, which will probably mark the cryptocurrency market for some time. No one expected it to reach this point, mainly because FTX was now considered the benchmark capable of saving the cryptocurrency industry from the disasters that followed this year, with the…
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Harvard: Central banks should buy bitcoin and hold it in their reserves
Harvard professor Matthew Ferranti suggests that bitcoin could also help nations evade financial sanctions. Matthew Ferranti, a professor at Harvard University, stated that central banks should hold bitcoin (BTC) reserves in small amounts, according to research he presented a few days ago. Ferranti finds it reasonable that central banks have small amounts of bitcoin in…
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An FTX lawyer assures that a large part of its assets have been stolen
At the first court hearing after FTX filed for bankruptcy, one of the firm’s lawyers claimed that a “considerable amount” of the company’s assets had been stolen. Bad news for FTX’s creditors: they are less and less likely to get their funds back. That was implied by one of the cryptocurrency exchange’s lawyers, who claimed…
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Bitcoin: New York State Bans Mining, Here’s Why
Bitcoin takes another hit at this turbulent time, with New York State Governor Kathy Hochul signing a law banning crypto mining via proof-of-work technology on the ground, unless the miner uses 100 power. % renewable. Hochul justified the move with an attempt to curb the carbon footprint by cracking down on mines that use electricity…
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FTX: This is what happened to the fallen crypto giant
The failure of FTX has left a deep groove in the cryptocurrency market. Investor doubts about the sector had already risen after the implosion of the TerraUSD stablecoin and its related LUNA token, followed by the bankruptcies of digital currency lender Celsius, Digital Voyager exchange, and hedge fund Three Arrows Capital. The wound inflicted by…
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Cryptocurrency crack
Cryptocurrencies in decline. The great fall and crack of cryptocurrencies. The market fears the bankruptcy of Genesis Sales on the cryptocurrency market do not stop. Bitcoin plunges below $16,000, hitting a new low of $15,500 on reports that crypto lender Genesis is about to file for bankruptcy, following the fate of Sam Bankman-Fried’s FTX. The…
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FTX: Over $3 Billion in Exposure from Lenders
FTX’s bankruptcy proceedings begin with disturbing news: The top 50 creditors of Sam Bankman-Fried’s companies have more than $3 billion in claims. Among these there are two who are entitled to more than 200 million dollars, while the others have assets of more than 20 million dollars. Customer names have been withheld for now, and…
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Bill Gates warning about the famous NFTs and cryptocurrencies
The cryptocurrency market is in a difficult situation. The FTX platform debacle, after declaring bankruptcy just a few days ago, has deepened the instability of cryptocurrencies, directly impacting the value of some digital currencies, such as bitcoin and Ethereum. Just a year ago, investments in these currencies were multiplying and the famous NFTs were also…
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How to keep my cryptocurrencies safe?
For many, recent events have highlighted the need to own their private keys so as not to be dependent on any centralized entity. So what is the best option to keep your cryptocurrencies safe? Keeping your bitcoins: the ideal solution? The bankruptcy of one of the largest exchanges on the planet has many consequences for…
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Cryptocurrencies: FTX Fault Infects Genesis and Gemini. Withdrawals Blocked
The contagion of the FTX bankruptcy does not stop and now also involves the cryptocurrency lender Genesis Trading. The New York-based company halted the recalls due to “unprecedented market turbulence,” he said. The bankruptcy filing of the Sam Bankman-Fried group resulted in “abnormal withdrawal requests that exceeded current liquidity,” Genesis said in a statement. The…
