Assets Liquidated

The global Web3 industry is set to see the rise of certain market trends in the year 2024. As per Vikram Subburaj, the CEO of India’s Giottus crypto exchange – DeFi, Layer-2 blockchain networks, asset tokenisation, and AI tokens are expected to rise in popularity in the Web3 landscape.

Bankrupt crypto exchange FTX received US court permission on Wednesday to liquidate cryptocurrency assets, a move the company said would allow it to repay customers in US dollars and minimize risks related to price volatility in crypto markets.

The overall crypto market cap fell by 1.22 percent in the last 24 hours. After a US court allowed FTX to liquidate the remainder of its BTC, ETH, and SOL crypto assets, the value of most cryptocurrencies recorded profits. Some cryptocurrencies did see losses on Thursday, September 14. These include Bitcoin SV and Spell Token.

The Monetary Authority of Singapore (MAS) has announced rules for the regulation of stablecoins. Web3 firms that wish to issue stablecoins in Singapore will have to ensure that they maintain minimum base capital and liquid assets. The country aims to avoid companies being exposed to the risks of collapse and insolvency.

Mastercard is gearing up to launch its ‘Multi-Token Network (MTN)’ in its beta version in the UK in the coming months. With the MTN, Mastercard is exploring if the unit of money in an individual’s bank account could be transformed into a digital saving on the blockchain. This could open more use cases of digital money, the company believes.

Wrapped crypto assets enable interoperability between different blockchains, including ones that they are not native to. Wrapped tokens increase liquidity and capital efficiency for both centralised and decentralised exchanges. Here's everything you need to know about these crypto assets and how they work.

FTX informed creditors on Tuesday that $415 million (roughly Rs. 33,90 crore) in cryptocurrency was stolen from the collapsed exchange by hackers. The exchange's founder, Sam Bankman-Fried, faces fraud charges in the US after he was extradited from the Bahamas. FTX recently told a US bankruptcy court it recovered over $5 billion (roughly Rs. 40,850...

FTX told a US bankruptcy court that the exchange has recovered $5 billion (roughly Rs. 40,780 crore) in assets as part of the crypto exchange's efforts to salvage funds after it collapsed last year. The funds are in the form of cash, liquid cryptocurrency, and liquid investments securities, according to the company.

The lawsuit is the latest legal effort to lay claim to the dwindling assets of FTX, which is already feuding with liquidators in the Bahamas and Antigua as well as the bankruptcy estate of Blockfi, another failed crypto company.

Creditors may approach India's aviation ministry to seek approval to liquidate Jet's assets if a resolution does not emerge during a critical court hearing on Tuesday, said a senior banker.

Bankman-Fried's empire crumbled this week after a liquidity crunch at one of its affiliates. Its US exchange, FTX.US, said on Thursday that customers should close out any positions they want to and that trading may be halted in a few days.

Asset tokenisation is the process of creating digital units of a physical or virtual property that is held on blockchain networks. They may be exotic ones like sports teams, artworks, and celeb merchandises as well as traditional assets like binds, commodities, capital funds, and real estate. Tokenising an asset can increase the liquidity of the as...

Madhya Pradesh Economic Offences Wing (EOW) probing a disproportionate assets complaint found Rs 35 lakh in cash at the Bhopal residence of a state government clerk who drank a poisonous liquid during the search on Wednesday, an official said.

Vermont's Department of Financial Regulation (DFR) on Tuesday said it believes cryptocurrency lender Celsius Network is "deeply insolvent" and does not have the assets and liquidity to honor its obligations to customers and other creditors.

When India's government unveiled a plan to tax crypto assets in February, it was the 30% rate on income from digital-asset investments that grabbed headlines. But its a different levy that has the industry warning of a potentially destabilizing liquidity crunch.

The global Web3 industry is set to see the rise of certain market trends in the year 2024. As per Vikram Subburaj, the CEO of India’s Giottus crypto exchange – DeFi, Layer-2 blockchain networks, asset tokenisation, and AI tokens are expected to rise in popularity in the Web3 landscape.

Bankrupt crypto exchange FTX received US court permission on Wednesday to liquidate cryptocurrency assets, a move the company said would allow it to repay customers in US dollars and minimize risks related to price volatility in crypto markets.

The overall crypto market cap fell by 1.22 percent in the last 24 hours. After a US court allowed FTX to liquidate the remainder of its BTC, ETH, and SOL crypto assets, the value of most cryptocurrencies recorded profits. Some cryptocurrencies did see losses on Thursday, September 14. These include Bitcoin SV and Spell Token.

The Monetary Authority of Singapore (MAS) has announced rules for the regulation of stablecoins. Web3 firms that wish to issue stablecoins in Singapore will have to ensure that they maintain minimum base capital and liquid assets. The country aims to avoid companies being exposed to the risks of collapse and insolvency.

Mastercard is gearing up to launch its ‘Multi-Token Network (MTN)’ in its beta version in the UK in the coming months. With the MTN, Mastercard is exploring if the unit of money in an individual’s bank account could be transformed into a digital saving on the blockchain. This could open more use cases of digital money, the company believes.

Wrapped crypto assets enable interoperability between different blockchains, including ones that they are not native to. Wrapped tokens increase liquidity and capital efficiency for both centralised and decentralised exchanges. Here's everything you need to know about these crypto assets and how they work.

FTX informed creditors on Tuesday that $415 million (roughly Rs. 33,90 crore) in cryptocurrency was stolen from the collapsed exchange by hackers. The exchange's founder, Sam Bankman-Fried, faces fraud charges in the US after he was extradited from the Bahamas. FTX recently told a US bankruptcy court it recovered over $5 billion (roughly Rs. 40,850...

FTX told a US bankruptcy court that the exchange has recovered $5 billion (roughly Rs. 40,780 crore) in assets as part of the crypto exchange's efforts to salvage funds after it collapsed last year. The funds are in the form of cash, liquid cryptocurrency, and liquid investments securities, according to the company.

The lawsuit is the latest legal effort to lay claim to the dwindling assets of FTX, which is already feuding with liquidators in the Bahamas and Antigua as well as the bankruptcy estate of Blockfi, another failed crypto company.

Creditors may approach India's aviation ministry to seek approval to liquidate Jet's assets if a resolution does not emerge during a critical court hearing on Tuesday, said a senior banker.

Bankman-Fried's empire crumbled this week after a liquidity crunch at one of its affiliates. Its US exchange, FTX.US, said on Thursday that customers should close out any positions they want to and that trading may be halted in a few days.

Asset tokenisation is the process of creating digital units of a physical or virtual property that is held on blockchain networks. They may be exotic ones like sports teams, artworks, and celeb merchandises as well as traditional assets like binds, commodities, capital funds, and real estate. Tokenising an asset can increase the liquidity of the as...

Madhya Pradesh Economic Offences Wing (EOW) probing a disproportionate assets complaint found Rs 35 lakh in cash at the Bhopal residence of a state government clerk who drank a poisonous liquid during the search on Wednesday, an official said.

Vermont's Department of Financial Regulation (DFR) on Tuesday said it believes cryptocurrency lender Celsius Network is "deeply insolvent" and does not have the assets and liquidity to honor its obligations to customers and other creditors.

When India's government unveiled a plan to tax crypto assets in February, it was the 30% rate on income from digital-asset investments that grabbed headlines. But its a different levy that has the industry warning of a potentially destabilizing liquidity crunch.