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Crypto bank Silvergate Capital stated less than $20M exposure to newly-bankrupt lender BlockFi. In the blog post from Nov. 28, the company officials claim: BlockFi is not a custodian for Silvergate’s bitcoin-collateralized SEN Leverage loans, which to date have continued to perform as expected with zero losses and no forced liquidations. Silvergate has no investments […]

South Korean authorities are proposing to widen the current Digital Assets Bill due to the security issues in the wake of the FTX collapse. The politician Yoon Chang-hyun is currently working with authorities on amendments to prevent the re-occurrence of FTX-like cases. With a new revision, local regulators such as the Financial Services Commission and […]

Citing a Bloomberg anonymous source, several Genesis clients hired restructuring advisers to avoid the company’s filing for Chapter 11 bankruptcy. One group of creditors is currently working with Proskauer Rose law firm, and another is getting advice from Kirkland & Ellis. The information was shared with Bloomberg by an unidentified source close to the matter. […]

Binance Labs made a strategic investment in Belgium-based cold wallet maker NGRAVE, following CEO’s Changpeng Zhao repeated calls for users to turn to self-custody. Another confirmation of these words is the integration of Trust Wallet in Binance, announced last week, which we covered in Digest #171.  According to an official statement, Binance Labs, the venture […]

Changpeng Zhao, Binance’s founder and CEO, shared in a Bloomberg interview firm’s plans for the crypto industry recovery, a bid for Voyager, and he also unruled the possibility of acquiring FTX assets. СZ shared his views with a Bloomberg reporter on whether contagion in the market will keep pace following the collapse of a big […]

Although bitcoin price correlates directly with the BTC mining industry, miners’ revenues have reached an all-time low since November 2020. According to data from Blockchain.com, total bitcoin mining revenue fell to $14.35M, last seen on Nov. 6, 2020, when bitcoin was trading at around $13,5K. Although bitcoin is currently trading around $16,5K, which suggests an […]

Dutch authorities decided to leave Alexey Pertsev, a developer of Tornado Cash mixer, in detention until Feb. 20. 2023, due to potential flight risk. On Aug. 12, Dutch authorities arrested Alexey Pertsev following the decision of OFAC, the U.S. Office of Foreign Asset Control, to ban Tornado Cash. A mixer is supposedly related to criminal […]

FTX founder Sam Bankman-Fried sent a letter to his former colleagues, citing his regret and shedding light on details of the firm’s collapse. Sam resigned as the CEO of FTX on Nov 11, following the filing for Chapter 11 bankruptcy in the United States. Since then, SBF made a series of bold statements during the […]

US Department of Treasury Office of Foreign Asset Control has settled the deal with the crypto exchange Kraken for Iran sanctions violation. The U.S.-based exchange Kraken is obliged to pay the Treasury $362,158.70 for a failure to provide the services for Iranian citizens: “Although Kraken maintained controls intended to prevent users from initially opening an […]

New York governor Kathy Hochul signed a moratorium on proof-of-work mining for two years, following the bill accepted by the state assembly and State Senate earlier this year. N.Y. State Assemblymember Anna R. Kelles tweeted regarding the new law: We did it! Thank you to Kathy Hochul for signing the crypto moratorium into law! This […]