Cryptocurrency Exchange
Digital Surge narrowly avoids collapse
Digital Surge creditors agree five-year rescue plan to keep exchange running. KordaMentha will pay creditors from the exchange's quarterly net earnings over five years. Customers were sent the rescue plan on December 8.
Binance Admits to Storing Customer Funds in the same wallet
Binance maintains certain client assets in the same wallet as its collateral for in-house tokens. Binance moved the funds to collateral wallets after the disclosure. B-Tokens are 1:1 collateralized, according to the company.
Bitzlato crypto firm taken down
Europol: 46% of Bitzlato assets were unlawful. U.S. and European authorities confiscated $19.5 million in cryptocurrencies from crypto wallets.
Binance Informs Customers of Upcoming Service Disruption
Disruption begins February 1. U.S. Dollar-held bank account holders who use SWIFT to acquire or sell cryptocurrencies under $100,000 may be impacted. Binance needs a new SWIFT (USD) partner to prevent service delays.
Bybit CEO clarifies company's exposure to Genesis
Bybit CEO confirms $150 million Genesis Global Trading exposure. The crypto community has moved on from FTX's bankruptcy to other loan businesses, some of which are suing parent company Digital Currency Group.
Moonstone Bank to Exit Crypto Space
FTX's collapse may have damaged Farmington State Bank. Jean Chalopin, the Bahamas-based chairman of Deltec, another FTX banking partner, bought Moonstone Bank in 2020.
Coindesk May Be Sold as Parent Company DCG Struggles
CoinDesk may sell. Digital Currency Group (DCG), its parent firm, looks to be struggling financially. DCG has received many bids over $200 million for the media group in recent months.
Why Bitcoin's Price Rebound Could Signify a Market Bottom
Since July, Bitcoin market mood is strong. Analysts think Bitcoin's recent price rise may indicate a greater breakthrough. Investor sentiment spiked three times since 2021, most recently in January.
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.
Bankman-Fried May Plead Next Week Before Judge Lewis Kaplan In NY Federal Court
Former FTX CEO Sam Bankman-Fried will appear in court on January 3. He faces two wire fraud charges and six conspiracy charges for the FTX bitcoin exchange crash. His close circle at FTX and Alameda Research pled guilty and cooperated.