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Britain to Set 'Robust' Standards With First Regulations for Crypto Assets, Minister Says
Britain will introduce "robust" regulations to govern the crypto sector and crypto assets, according to Financial Services Minister Andrew Griffith. The new rules come after rising interest rates led to a string of bankruptcies in the sector in 2022, while the price of Bitcoin plunged by 60 percent.
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BlockFi Files for Bankruptcy in the US, Cites Exposure to FTX Amid Crypto Meltdown
BlockFi on Monday filed for Chapter 11 bankruptcy protection in the US, as the crypto lender said it was exposed to FTX's collapse earlier this month. The lender also sued a holding company for former FTX CEO Sam Bankman-Fried, seeking to recover shares in Robinhood. Debtors do not face the myriad issues apparently facing FTX, despite exposure to t...
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FTX Bankruptcy: BitGo Recovers $740 Million in Crypto Assets So Far, Court Filings Show
FTX assets worth $740 million (roughly Rs. 6,040 crore) have been recovered and secured so far, according to BitGo, the company tasked with locking down the assets of the failed cryptocurrency exchange. The biggest worry for many of FTX's customers is they'll never see their money again. The assets recovered include not only Bitcoin and ethereum, b...
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FTX Collapse: Crypto Firms Fight Back to Save Sector After Exchange Declares Bankruptcy
FTX collapsed last week, with the crypto exchange declaring bankruptcy on Friday. The failure of the platform has undermined investor confidence and threatened the young cryptocurrency sector, and big players are now fighting back. The bankruptcy of FTX, which even in early November was still considered one of the most reliable platforms, is a remi...
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Crypto: What Could More Regulation Mean for the Future of Digital Currencies?
The collapse of FTX, once one of the largest crypto exchanges in the world, has prompted calls regulation of the crypto sector. Meanwhile, Binance CEO Changpeng Zhao, has called for more regulatory clarity after a week of crypto market chaos and a year in which investors are estimated to have lost $2 trillion (roughly Rs. 1,62,18,000 crore), and ev...
-
Bitcoin, Ether Slide Further in Value Over the Weekend Following FTX Bankruptcy
Bitcoin price analysis shows price decline deepened a further 4 percent over Monday's trade, as price went down to $16,200 (roughly Rs. 13.1 lakh). BTC has been in consistent decline since November 6, and a further 4 percent decline could push price to test the $16,000 (roughly Rs. 13.1 lakh) support mark.
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FTX Files US Bankruptcy Proceedings, Sam Bankman-Fried Steps Down as CEO
Crypto exchange FTX filed US bankruptcy proceedings on Friday and Sam Bankman-Fried stepped down as CEO, after a rapid liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. The distressed crypto trading platform had been struggling to raise billions in funds to stave off collapse after trader...
-
Celsius Gets Clearance From Court to Sell Newly Mined Bitcoin Despite DOJ Objection
Bankrupt cryptocurrency lender Celsius Network, which disclosed earlier this week that it was running low on cash reserves, said it has received several proposals to inject cash into the company and won approval from a US judge to sell Bitcoin that it mines.
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Celsius Clients Beg for Their Cash Back in Letters to Judge Overseeing Firm’s Multi-Billion-Dollar Bankruptcy
Celsius clients have written to the judge overseeing the multi-billion-dollar crypto lender’s bankruptcy, asking for their cash back. The firm owed $4.7 billion (roughly Rs. 37,205 crore) to its users, according to a court filing earlier this month. Hundreds of letters from around the world recount the results of users' accounts being frozen, fro...
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From Emergency Capital Infusions to Bankruptcy: How the Crypto Meltdown Hit These Companies the Hardest
Celsius Network, Voyager, Vauld, Blockfi, and Three Arrows Capital are some of the companies that were hit the hardest by the ongoing crypto meltdown that has seen the value of Bitcoin fall more than 56 percent from this year's high. These companies have been forced to seek emergency capital infusions, frozen withdrawals, or filed for bankruptcy. H...
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Celsius Defends Bitcoin Mining Plans, Hopes to Repair Relationship With Customers as Bankruptcy Kicks Off
Celsius Network, the crypto lender that recently filed for bankruptcy, defended is decision to begin Bitcoin mining operations at a bankruptcy court hearing on Monday. The lender received approval from the court to spend $3.7 million (roughly Rs. 30 crore) in construction costs at a new Bitcoin mining facility and $1.5 million (roughly Rs. 12 crore...
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Ongoing Crypto Market Meltdown Provides Cautionary Tale for US Public Pension Funds
The ongoing cryptocurrency market meltdown could prove to be a cautionary tale for US public pension funds. Amid a plunge in prices for Bitcoin and other cryptocurrencies in recent weeks, crypto lenders have declared bankruptcy and others are facing a cash crunch. A handful of public pension funds that have dipped their toes in the crypto pool over...
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Celsius Files for Bankruptcy a Month After Freezing Withdrawals, Amid Ongoing Industry Turmoil
Celsius, the cryptocurrency investment platform, revealed on Wednesday that it had filed for bankruptcy in the US. The move comes a month after Celsius froze withdrawals on its platform, and the firm says it is seeking to restructure in a way that would maximize value for all stakeholders. Other firms also recently suspended withdrawals, such as Co...
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Not Your Keys, Not Your Coins
Recently, Coinbase crypto exchange, said in an SEC filing that in the event of a company bankruptcy, people holding crypto assets on its platform could lose direct claims to their ownings. Here we explore the types of crypto wallets that are available as alternatives to storing your crypto assets with centralised exchanges.
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Defunct Bitcoin Exchange Mt. Gox to Pay $9 Billion to Creditors, Closing Six-Year-Old Chapter
Mt. Gox will be paying $9 billion (roughly Rs. 67,531 crore) to its former customers who lost their Bitcoin holdings in a hack attack in 2014 with. The company is yet to announce detailed information on the distribution process
-
Britain to Set 'Robust' Standards With First Regulations for Crypto Assets, Minister Says
Britain will introduce "robust" regulations to govern the crypto sector and crypto assets, according to Financial Services Minister Andrew Griffith. The new rules come after rising interest rates led to a string of bankruptcies in the sector in 2022, while the price of Bitcoin plunged by 60 percent.
-
BlockFi Files for Bankruptcy in the US, Cites Exposure to FTX Amid Crypto Meltdown
BlockFi on Monday filed for Chapter 11 bankruptcy protection in the US, as the crypto lender said it was exposed to FTX's collapse earlier this month. The lender also sued a holding company for former FTX CEO Sam Bankman-Fried, seeking to recover shares in Robinhood. Debtors do not face the myriad issues apparently facing FTX, despite exposure to t...
-
FTX Bankruptcy: BitGo Recovers $740 Million in Crypto Assets So Far, Court Filings Show
FTX assets worth $740 million (roughly Rs. 6,040 crore) have been recovered and secured so far, according to BitGo, the company tasked with locking down the assets of the failed cryptocurrency exchange. The biggest worry for many of FTX's customers is they'll never see their money again. The assets recovered include not only Bitcoin and ethereum, b...
-
FTX Collapse: Crypto Firms Fight Back to Save Sector After Exchange Declares Bankruptcy
FTX collapsed last week, with the crypto exchange declaring bankruptcy on Friday. The failure of the platform has undermined investor confidence and threatened the young cryptocurrency sector, and big players are now fighting back. The bankruptcy of FTX, which even in early November was still considered one of the most reliable platforms, is a remi...
-
Crypto: What Could More Regulation Mean for the Future of Digital Currencies?
The collapse of FTX, once one of the largest crypto exchanges in the world, has prompted calls regulation of the crypto sector. Meanwhile, Binance CEO Changpeng Zhao, has called for more regulatory clarity after a week of crypto market chaos and a year in which investors are estimated to have lost $2 trillion (roughly Rs. 1,62,18,000 crore), and ev...
-
Bitcoin, Ether Slide Further in Value Over the Weekend Following FTX Bankruptcy
Bitcoin price analysis shows price decline deepened a further 4 percent over Monday's trade, as price went down to $16,200 (roughly Rs. 13.1 lakh). BTC has been in consistent decline since November 6, and a further 4 percent decline could push price to test the $16,000 (roughly Rs. 13.1 lakh) support mark.
-
FTX Files US Bankruptcy Proceedings, Sam Bankman-Fried Steps Down as CEO
Crypto exchange FTX filed US bankruptcy proceedings on Friday and Sam Bankman-Fried stepped down as CEO, after a rapid liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. The distressed crypto trading platform had been struggling to raise billions in funds to stave off collapse after trader...
-
Celsius Gets Clearance From Court to Sell Newly Mined Bitcoin Despite DOJ Objection
Bankrupt cryptocurrency lender Celsius Network, which disclosed earlier this week that it was running low on cash reserves, said it has received several proposals to inject cash into the company and won approval from a US judge to sell Bitcoin that it mines.
-
Celsius Clients Beg for Their Cash Back in Letters to Judge Overseeing Firm’s Multi-Billion-Dollar Bankruptcy
Celsius clients have written to the judge overseeing the multi-billion-dollar crypto lender’s bankruptcy, asking for their cash back. The firm owed $4.7 billion (roughly Rs. 37,205 crore) to its users, according to a court filing earlier this month. Hundreds of letters from around the world recount the results of users' accounts being frozen, fro...
-
From Emergency Capital Infusions to Bankruptcy: How the Crypto Meltdown Hit These Companies the Hardest
Celsius Network, Voyager, Vauld, Blockfi, and Three Arrows Capital are some of the companies that were hit the hardest by the ongoing crypto meltdown that has seen the value of Bitcoin fall more than 56 percent from this year's high. These companies have been forced to seek emergency capital infusions, frozen withdrawals, or filed for bankruptcy. H...
-
Celsius Defends Bitcoin Mining Plans, Hopes to Repair Relationship With Customers as Bankruptcy Kicks Off
Celsius Network, the crypto lender that recently filed for bankruptcy, defended is decision to begin Bitcoin mining operations at a bankruptcy court hearing on Monday. The lender received approval from the court to spend $3.7 million (roughly Rs. 30 crore) in construction costs at a new Bitcoin mining facility and $1.5 million (roughly Rs. 12 crore...
-
Ongoing Crypto Market Meltdown Provides Cautionary Tale for US Public Pension Funds
The ongoing cryptocurrency market meltdown could prove to be a cautionary tale for US public pension funds. Amid a plunge in prices for Bitcoin and other cryptocurrencies in recent weeks, crypto lenders have declared bankruptcy and others are facing a cash crunch. A handful of public pension funds that have dipped their toes in the crypto pool over...
-
Celsius Files for Bankruptcy a Month After Freezing Withdrawals, Amid Ongoing Industry Turmoil
Celsius, the cryptocurrency investment platform, revealed on Wednesday that it had filed for bankruptcy in the US. The move comes a month after Celsius froze withdrawals on its platform, and the firm says it is seeking to restructure in a way that would maximize value for all stakeholders. Other firms also recently suspended withdrawals, such as Co...
-
Not Your Keys, Not Your Coins
Recently, Coinbase crypto exchange, said in an SEC filing that in the event of a company bankruptcy, people holding crypto assets on its platform could lose direct claims to their ownings. Here we explore the types of crypto wallets that are available as alternatives to storing your crypto assets with centralised exchanges.
-
Defunct Bitcoin Exchange Mt. Gox to Pay $9 Billion to Creditors, Closing Six-Year-Old Chapter
Mt. Gox will be paying $9 billion (roughly Rs. 67,531 crore) to its former customers who lost their Bitcoin holdings in a hack attack in 2014 with. The company is yet to announce detailed information on the distribution process
