Crypto Industry News

BlockFi plans to sell $160 million worth of bitcoin-backed mining loans amid bankruptcy proceedings. The company has also requested to pay bonuses to key talent to retain employees. The recent Bloomberg report revealed the company had started a bidding process for mining loans last year. However, some of those loans, which are around $160 million […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]