debt
Dai Stablecoin Reaches 100 Million in Debt Ceiling – An All-Time-High
The Dai (DAI) stablecoin reached the protocol’s built-in debt ceiling of 100 million as there has been 100 million Dai tokens minted. The nearly two-year-old stablecoin project had an original debt ceiling of 50 million, which was raised to 100 million in July 2018.
Exclusive | FUSANG CEO: CCB’s $3 Billion in Blockchain-Based Debt Bonds is Rise of Crypto 2.0
According to FUSANG CEO Henry Chong, the CCB's historic blockchain-based bond listing, the first tranche of $3 billion in debt, marks a transition into what he calls “Crypto 2.0”
MicroStrategy CEO Says the Software Firm Is Considering Equity or Debt Financing to Purchase More Bitcoins
MicroStrategy CEO Michael Saylor has said that he is considering issuing more debt to enable the company to buy more Bitcoins. He stated that it makes sense to purchase as much of the asset class as they can.
DCG Completes Payment of Short-Term Debts to Dissolved Crypto Lender Genesis
Digital Currency Group paid up all short-term loans to Genesis, a previous bitcoin lending platform, as promised. DCG repaid $700 million in 2023 despite crypto sector woes. Genesis filed for bankruptcy in early 2023 after a withdrawal halt due to obligations of over $3.5 billion to its principal creditors. The bitcoin market is changing significantly with this development.
FTX Issues Fresh Warning on Phishing Emails and Scam Sites
FTX issues a fresh warning about phishing emails and scam sites mimicking its Debtors' portal. The alert, dated October 5, 2023, comes amid industry-wide concerns about phishing attacks, including a recent warning from Binance CEO Changpeng Zhao.
SEC Freezes Assets of DEBT Box in $50 Million Crypto Fraud Case
The U.S. Securities and Exchange Commission (SEC) has obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., a Utah-based entity operating as "DEBT Box," along with its four principals and 13 other defendants.
JPEX Claims 70% of Voting Users Agree to Dividend Scheme; Lawmaker Warns of Debt Risks
JPEX, a virtual asset trading platform suspected of illegal operations, has proposed a DAO stakeholder dividend scheme. While 70% of participating users have agreed, lawmaker Huang Junshuo warns of potential debt risks. The platform is also under legal scrutiny, with ongoing investigations into fraud.
Debt Box vs SEC: Court Reverses Asset Freeze, Raises Questions on SEC's Conduct
Debt Box is suing the SEC for misrepresentation of evidence in obtaining an asset freeze, citing potential sanctions for misleading arguments.
Meta Files for Debt Shelf Offerings
Meta, the parent company of Facebook, Instagram, and WhatsApp, has filed for new debt shelf offerings with the United States Securities and Exchange Commission (SEC). The company has not disclosed the exact amount of debt securities being offered, but it plans to issue a new prospectus supplement each time a debt security is sold.
US District Court Sanctions SEC Over Misconduct in Debt Box Litigation
US District Court Judge Robert J. Shelby reprimands the SEC for "bad faith" conduct, imposing sanctions amid Debt Box lawsuit proceedings.
Celsius is "Deeply Insolvent", Says Vermont's Financial Regulator
Vermont's Department of Financial Regulation also said that Celsius Network is also not honouring its obligations to customers and creditors as it does not have the assets and liquidity to do so.
MicroStrategy's Debt Dilemma: A Balancing Act Between Bonds and Bitcoin
Adam Cochran discussed MicroStrategy's financial quandary due to its 2025 and 2028 convertible notes amidst its extensive Bitcoin holdings. Failure to address the 2025 note could lead to a 15% equity dilution, while refinancing could spike yield rates. Options like leveraging Bitcoin or selling it to cover debts were explored, with the latter potentially causing a dip in market confidence. Cochran hinted that the year-end decisions could significantly impact how MicroStrategy navigates its debt come 2024.
Celsius Crypto Lender's Bankruptcy: Large Withdrawals Clawbacks
Celsius Network is imposing bankruptcy proceedings on account holders with $100,000 or more liabilities, and is taking legal action against those who withdrew large amounts pre-bankruptcy.
SEC Withdraws Lawsuit Against Debt Box Amid Misleading Evidence Controversy
The SEC has withdrawn its lawsuit against Debt Box, accusing it of a $50 million fraudulent scheme, paving the way for future charges and a significant shift in crypto firm regulatory landscape.
Core Scientific's Bankruptcy Exit: Financial Revival and Operational Expansion
Core Scientific's court-approved bankruptcy plan sets the stage for its Nasdaq relisting, debt restructuring, and operational expansion, aiming to bolster revenue and shareholder value.
EquitiesFirst Owes $439 Million In Debt to Celsius Network
The case is one of many issues facing Celsius Network. If EquitiesFirst agrees to pay the debt, then the struggling Celsius’ operations would be bolstered.
Bitvavo Rejects DCG's 70% Debt Repayment Offer
DCG's partial debt repayment plan was rejected by Bitvavo. The Dutch crypto exchange said it has adequate resources to keep servicing consumers. On Jan. 10, Cameron Winklevoss publicly accused DCG CEO Barry Silbert of fraud.
VTB Bank's Subsidiary Tokenizes Commercial Debt in Landmark DFA Transaction
Russia’s state-owned bank VTB's subsidiary, VTB Factoring has completed the country’s first commercial paper tokenization through a partnership with Lighthouse, an information system operator and startup.
SEC Regrets Missteps in Debt Box Case: A Lesson in Legal Accountability
The SEC's acknowledgement of errors in the Debt Box case highlights the significance of accuracy and candor in legal proceedings, impacting regulatory practices in the cryptocurrency sector.
Zipmex Requests Moratorium Extension in Singapore
Cryptocurrency exchange Zipmex has requested an extension of its moratorium on debt in Singapore due to liquidity issues. The company plans to use the extra time to reopen withdrawals on its Z Wallet platform.
SEC's Misstep in Debt Box Lawsuit Sparks Senate Republican Critique
Five Republican senators have criticized the SEC for unethical conduct in a lawsuit against Digital Licensing, highlighting concerns about enforcement practices in the crypto sector.
Belt and Road Initiative – Hong Kong the Gateway for RMB Internationalization
Many analysts have come to view BRI as a diplomatic offensive with geopolitical motives. However, the initiative is primarily driven by the Middle Kingdom’s pressing need to transform its national economy through further integration with the world.
Dragonfly Capital Completes $3.5M Seed Round Funding For Debt DAO
Dragonfly Capital completed a $3.5 million seed round for crypto credit protocol Debt DAO, according to a press release.
CoinFLEX to Sue Robert Ver to Recover $84m Outstanding Debt
CoinFLEX is facing bankruptcy fears after its big longtime crypto investor Roger Ver who failed to repay a debt now totals $84 million dollars. The exchange said they are taking legal action against Roger Ver.
The Issuance of a $1.5B Junk Bond by Coinbase Indicates Investors are Eager to Join Crypto
Coinbase's sale of a junk bond with a total value of $1.5 billion shows that cryptocurrencies have gradually become mainstream.
IMF Boss Says Europe Can Avoid Debt Trap, Difficult to Believe in Crypto as Money
IMF Chief Kristalina Georgieva said that Europe could reverse getting into a debt crisis. She further warned about the risks associated with cryptocurrencies.
MicroStrategy Sells Off Convertible Debt Worth $1.05 Billion To Purchase More Bitcoin
MicroStrategy announced that it completed a sale of convertible senior notes worth $1.05 billion to acquire more Bitcoins.
Goldman Sachs Warns Inflation Threatens US Dollar’s Role as Global Reserve Currency
Goldman Sachs strategists say risks to the U.S dollar’s reserve status include increasing pandemic and political uncertainty and rising debt.
Can US Lawmakers Really Just Mint Two $1 Trillion Coins to Back a Digital Dollar COVID Stimulus with "No Additional Debt"?
As the economy continues to deteriorate in the ongoing COVID-19 pandemic climate, US Lawmakers are once again pitching the creation of a sovereign digital dollar to quickly distribute the proposed stimulus packages. The bill further proposed the new minting of two trillion dollar coins.
Bitcoin Price and the Global Financial Crisis: Everybody's Looking at the Wrong Markets
While everybody obsesses over stock markets, bailouts, and inflation, the biggest global financial risks come from the collapse of debt markets. What does this mean for bitcoin?
G7 Will Meet to Discuss CBDC and Digital Tax this Week Says Japan’s Finance Minister
The Group of Seven (G7) will meet on Feb.12 to discuss central bank digital currencies (CBDC), digital taxation and global debt according to Japan’s Finance Minister Taro Aso.
Bitcoin Price to Rally Higher as President Trump Signs $900 Billion Stimulus Bill
President Trump has signed the $900 billion pandemic relief bill, adding to the Fed's mounting debt catalyst for the Bitcoin (BTC) price to continue its sensational rally.
Bitcoin Advocate Cynthia Lummis Wins US Senate Seat in Wyoming State
Cynthia Lummis is elected to serve in the senate for the state of Wyoming. She is a Bitcoin advocate who wants to develop an “American First” agenda and cut the national debt.
JPMorgan to Launch Investment “Basket” Tied to 11 Crypto-Focused Firms including MicroStrategy, Square, and Nvidia
JPMorgan has filed a request with the Securities and Exchange Commission to approve a debt instrument linked to 11 firms that have all invested in Bitcoin and other cryptocurrencies.
Can MakerDAO Survive the Coronavirus Pandemic?
The coronavirus pandemic and growing macroeconomic uncertainties have seriously dampened the cryptocurrency market, which Bitcoin once dipped below USD 4000. The “Red Sea” has expanded across the market of decentralized finance (DeFi), where the total value locked (USD) for DeFi market dropped from USD 649m to USD 246m.