Binance’s US unit gets court approval to move forward with $1 billion bid for bankrupt crypto lender Voyager’s assets

Date:  Comments: 0

Binance and cryptocurrencies NurPhoto/Getty Images Bankrupt crypto lender Voyager won initial court approval to sell assets to the US arm of crypto exchange Binance.  The proposed buyout includes an agreement to transfer Voyager’s customers to the crypto exchange, Reuters reported. Voyager customers are moving closer to being able to make withdrawals.  Bankrupt crypto lender Voyager...

Crypto lender Genesis reportedly owes creditors $3 billion, and is eyeing the sale of its parent company’s venture assets to raise funds

Date:  Comments: 0

Digital Currency Group CEO Barry Silbert. Heidi Gutman/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images Crypto lender Genesis owes its creditors more than $3 billion, the Financial Times reported on Thursday. Genesis’ parent company DCG may sell assets in its venture portfolio to raise fresh cash. Genesis’ lending arm took hits after FTX filed for bankruptcy, causing...

Meet Sam Trabucco, the Alameda exec who oversaw the development of the crypto hedge fund’s ultra-risky trading strategies

Date:  Comments: 0

Sam Trabucco was the co-CEO of Alameda Research. Alameda Research Sam Trabucco was Alameda Research’s co-CEO. He left the crypto hedge fund a few months before its collapse. Before he left Alameda, he reportedly went on a $10 million all-cash property buying spree and bought a 52-foot yacht. US prosecutors have not alleged Trabucco with...

Sam Bankman-Fried says both FTX and Alameda were raking in billions in profits in 2021 before token values plunged in crypto winter

Date:  Comments: 0

Sam Bankman-Fried, founder of FTX and Alameda Research FTX Sam Bankman-Fried published an extensive Substack article Thursday titled, “FTX Pre-Mortem Overview.” He said both FTX and Alameda Research were netting billions in profits in 2021, before crypto token valuations crashed in 2022.  He noted that “Alameda lost about 80 percent of its assets’ value over...

Total Staked ETH Crosses 16M, Crypto Daily TV 13/1/2023

Date:  Comments: 0

In Todays Headline TV CryptoDaily News: Number of staked ETH passes 16 million. Almost four months after Ethereum’s successful shift to a proof-of-stake network, the second-biggest blockchain by market cap has passed another major milestone. More than 16 million ether have been deposited into Ethereum’s Beacon Chain staking contract, data from Etherscan shows. FTX has...

Crypto has little intrinsic value or fundamentals to fall back on, and traders are merely riding a ‘hot ball’ of momentum, investment firm says

Date:  Comments: 0

Bitcoin’s meteoric rise has boosted crypto hedge funds Dado Ruvic/Reuters Crypto has little intrinsic value, and traders are merely capitalizing on momentum to take profits,  A paper from Starkiller Capital said there is little evidence that fundamentals influence the price of crypto assets. In the absence of fundamentals, traders must rely on a set of...

Mark Cuban: Next crypto implosion may be uncovering wash trading

Date:  Comments: 1

“Putting an exact number on crypto wash trading is much harder than in traditional finance because the markets are so different and decentralized,” says Chen Arad, chief operating officer at Solidus Labs, a crypto-native risk monitoring and market surveillance company. For example, bitcoin is traded across thousands of platforms that are both centralized and decentralized,...

FTX collapse: Tom Brady, Robert Kraft among investors set to be wiped out in crypto exchange’s bankruptcy – CBSSports.com

Date:  Comments: 0

Tampa Bay Buccaneers quarterback Tom Brady and New England Patriots owner Robert Kraft are among a list of FTX equity owners who are set to see their investments in the cryptocurrency firm be completely wiped out in bankruptcy proceedings, according to a report by Insider. The company released a list of its top equity holders...

First Look at Emerging Crypto Trends in 2023: Nansen

Date:  Comments: 1

Amid the bear market and the fall of FTX, the crypto industry is still struggling to get back on its feet as innovation and technological advancement continue. However, the market has shown signs of improvement in the first week of 2023, with the Ethereum ecosystem leading the way. According to a report by blockchain data...

Paul Krugman says bitcoin could be losing out to the ‘pet rock of ages’ gold because scandals are denting faith in crypto

Date:  Comments: 0

Paul Krugman. Jeff Zelevansky / Getty Crypto scandals helping push some investors away from bitcoin and toward gold, Paul Krugman said.  The Nobel Prize winner noted gold prices have been holding up even as crypto and Tesla tumbled in value.  A loss of faith in “fashionable technobabble” is helping demand for “the pet rock of...