Crypto Industry News
The crypto industry is quite turbulent, but also innovative, impactful, or even fun. Many dozen events of all kinds happen each day, giving crypto enthusiasts plenty to keep them interested.
We dig for the best stories to share them with readers and have quite a few news categories here on TradeCrypto for all these stories. But whatever news on the many crypto companies and events doesn’t fit anywhere else, goes in the general crypto industry news. Â
First hearing scheduled in Genesis bankruptcy case
According to court documents, the first hearing in the Genesis Capital bankruptcy case is scheduled for January 23 at 2 p.m. Eastern Time. Judge Sean H. Lane, appointed by the United States Bankruptcy Court for the Southern District of New York, will decide whether to accept the Chapter 11 relief requested by Genesis and its […]
Binance allows investors to hold collateral off exchange
Institutional investors will soon be able to store their off-exchange collateral in cold wallets through Binance Custody, according to a recent announcement. The move comes in the wake of dwindling trust in centralized crypto companies following the collapse of FTX. Binance is trying to restore that trust by keeping leveraged positions off the internet. Binance […]
Skybridge founder invests in former FTX.US president’s firm
Anthony Scaramucci, the founder of Skybridge Capital, is investing his personal money in the new software company founded by Brett Harrison, the former president of FTX.US. After leaving FTX.US in September, Brett Harrison planned to remain with the company as an advisory member. However, in the weeks following FTX’s collapse, Harrison announced that he was […]
DCG looking to sell assets to cover Genesis’ $3 billion deficit
The Financial Times reports that the Digital Currency Group (DCG) plans to sell some assets from its venture portfolio to help Genesis with its $3 billion deficit. According to FT, DCG’s (Digital Currency Group) portfolio is worth $500 million. It is heavily invested in over 200 crypto projects, including data intelligence platform Dune Analytics, USDC […]
SEC charges Gemini and Genesis with offering unregistered securities
Today, SEC accused Gemini and Genesis of an unregistered offering of securities through the Gemini Earn lending product. Investigations into other securities violations are ongoing. In February 2021, Gemini opened a Gemini Earn product with Genesis, in which the latter was a lender, and Gemini acted as an agent for its customers. In return for […]
Nexo experiences massive withdrawals, users leave platform
Following the troubling news of the open investigation into Nexo in Bulgaria and yesterday’s raid on the lender’s offices, blockchain analysts have witnessed a “flood of withdrawals” from the platform. Still, Nexo says it’s all business as usual. Related: Nexo is under money laundering investigation in Bulgaria Crypto intelligence team Arkham spotted an abnormal activity […]
Nexo is under money laundering investigation in Bulgaria
Bulgarian prosecutors, along with international agents, have launched a large-scale investigation into the crypto lender, Nexo. The company is accused of being involved in violation of sanctions against Russia. Nexo has denied all accusations. According to the StandartNews media outlet, the investigation into Nexo started a few months ago, claiming the crypto lender provided investors […]
Coinbase scales back most of operations in Japan
U.S.-based crypto exchange Coinbase will close most programs in Japan, leaving only a security team to protect customers’ assets. According to the official announcement of Nana Murugesan, the company’s vice president of business and international development, Coinbase’s decision to cut its operations in Japan is related to global layoffs. Recently, Coinbase reported cutting 20% of […]
Coinbase cuts 20% of jobs to survive any winter scenario
Crypto exchange Coinbase is experiencing a second round of layoffs. This time, Coinbase intends to lay off 950 employees and shut down several projects. Last June, Coinbase laid off 18% of jobs, or 1,000 employees, to “ensure we stay healthy during this economic downturn.” As it appears now, with another wave of cutting jobs at […]
Mark Cuban to testify about Voyager promotion allegations
Billionaire investor, crypto influencer and owner of Mavericks, Mark Cuban, is to stand pre-trial on Feb. 2 for promoting the bankrupt company, Voyager Digital. Mark Cuban is to answer questions under oath that will determine whether the case against him will be opened. Previously, Cuban had requested that the questioning be split into two sessions. […]