Browsing:Market

A Delaware Court has dismissed a lawsuit filed by digital asset custodian BitGo against crypto investment firm Galaxy Digital.
11 months ago 1 min read

US Court Rejects BitGo’s $100M Lawsuit Against Galaxy Digital

A Delaware Court of Chancery judge has dismissed a lawsuit filed by digital asset custodian BitGo against crypto investment firm Galaxy Digital. The lawsuit stemmed from Galaxy Digital’s decision to drop its $1.2 billion acquisition of BitGo in August 2022. In his ruling, Vice Chancellor J. Travis Laster said that Galaxy Digital had a “clean termination right” under the terms of the acquisition agreement. Laster also found that BitGo had not presented any evidence that Galaxy Digital’s decision to terminate the agreement was motivated by anything other than BitGo’s failure to provide certain financial information. BitGo has said that it

Market Shifts Pave the Way for Bitcoin's Dominance to Reach 50%
11 months ago 1 min read

Bitcoin Dominance Nears 50% as Market Dynamics Shift

Bitcoin dominance, a measure of Bitcoin’s market capitalization compared to the total cryptocurrency market cap, has surged to nearly 50% as investors seek stability in the market. Bitcoin dominance has been on the rise since the beginning of the year, and it has accelerated in recent weeks as the global economy has shown signs of weakness. Investors are increasingly viewing Bitcoin as a safe haven asset, and they are buying Bitcoin in anticipation of further market volatility. The recent surge in Bitcoin dominance has been fueled by a number of factors, including: The recent surge in Bitcoin dominance is a

UK-based Gensyn AI secured $43 million in Series A funding led by a16z crypto
11 months ago 2 mins read

Decentralized Machine Learning Startup Gensyn AI Raises $43M, Led by a16z

In the tech industry’s current focus on artificial intelligence, machine learning companies are harnessing the potential of decentralized technology to maximize its benefits. UK-based Gensyn AI, which recently secured $43 million in Series A funding led by a16z crypto, is at the forefront of empowering developers with a pay-as-you-go model to create AI tools. Founded in 2020 by Ben Fielding and Harry Grieve, Gensyn AI aims to connect global machine learning compute hardware, including GPUs and CPUs, and make it accessible to engineers, researchers, and academics. Gensyn AI co-founder Ben Fielding describes Gensyn as a decentralized machine learning computing protocol.

EU Consumer Watchdog Slams Platforms for Crypto Scam Promotion
11 months ago 2 mins read

European Consumer Watchdog Criticizes Instagram and TikTok Over Crypto Scam Facilitation

The European Consumer Organization (BEUC) has published a comprehensive report condemning popular social media platforms such as Instagram, TikTok, Twitter, and YouTube for their alleged role in facilitating scams related to digital assets. The report sheds light on the risks associated with cryptocurrencies and the influence of crypto influencers while criticizing the loose policies maintained by these platforms that allow scammers to exploit unsuspecting users, especially teenagers. The BEUC calls on the European network of national consumer authorities (CPC-Network) to enforce stricter advertising regulations and ensure adequate consumer protection. The BEUC report emphasizes the need for the CPC-Network to take

Crypto Prices Plunge, Suffering Losses of 25% or More
11 months ago 1 min read

Crypto Prices Experienced Significant Drops of 25% or More Yesterday

The cryptocurrency market experienced a significant crash yesterday morning, with many altcoins losing significant value. Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, also experienced losses, but to a lesser extent. The crash was likely triggered by a combination of factors, including the recent lawsuits filed by the Securities and Exchange Commission (SEC) against major crypto exchanges, Coinbase and Binance. The SEC has alleged that these exchanges violated securities laws by selling unregistered securities. The SEC’s lawsuits have heightened regulatory uncertainty in the crypto market, leading to increased selling pressure. This selling pressure was likely exacerbated by the

Vitalik Buterin and Polygon Co-founder Direct $100M towards COVID-19 Research
11 months ago 2 mins read

Vitalik Buterin and Polygon Co-founder Pledge $100M for COVID-19 Research

Ethereum co-founder, Vitalik Buterin, has joined forces with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal to contribute $100 million towards COVID-19 research and medical infrastructure development in India. In a significant move, Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin himself will contribute an additional $10 million. Collaboration for COVID-19 Relief Vitalik Buterin and Sandeep Nailwal have come together to support COVID-19 research and medical infrastructure in India. Crypto Relief, a community-run fund in India, will transfer $90 million in USD Coin (USDC) to Buterin, ensuring compliance with local

Court documents reveal that the FTX customer list is considered highly valuable
11 months ago 1 min read

FTX Exchange Bankers Push to Keep Highly Valuable Customer List Confidential

In the aftermath of FTX’s financial collapse, the bankrupt crypto exchange finds solace in its extensive customer base. Court documents reveal that the customer list is considered highly valuable, prompting a debate over its confidentiality. As potential buyers and investors express interest in acquiring or reorganizing FTX, the sealed customer list has become a focal point of discussion, with arguments for and against its release. Kevin Cofsky, a partner at investment bank Perella Weinberg Partners, emphasizes the significance of FTX’s customer list for potential buyers. The list, which reportedly consists of approximately 9 million customers, is considered to be of

The U.S. administration has raised objections to the proposed customer repayment plan put forth by Bittrex
11 months ago 1 min read

U.S. Government Raises Concerns Over Bittrex’s Customer Repayment Plan

The U.S. administration has raised objections to the proposed customer repayment plan put forth by Bittrex, the bankrupt cryptocurrency exchange. The objections come after regulatory allegations of illegal securities exchange operations and unauthorized transactions. The U.S. government argues against prioritizing creditors and seeks a different approach. Bittrex’s U.S. subsidiary filed for bankruptcy in May following allegations of running an illegal securities exchange and engaging in unauthorized transactions. The exchange had previously settled with the Treasury for $53 million due to violations involving customers from Iran, Cuba, and Crimea. Bittrex sought court approval to allow customers to withdraw their funds without

Ex-Binance.US CEO Brian Brooks said CZ Had Full Control of the Exchange, Not him
11 months ago 1 min read

Binance.US Former CEO Brian Brooks Says CZ Had Full Control of the Exchange, Not Him

Brian Brooks, the former CEO of Binance.US, has alleged that Binance CEO Changpeng Zhao (CZ) was ultimately in charge of the exchange, even though Brooks was officially the CEO. Brooks made these allegations in court documents filed this week as part of an ongoing lawsuit between the SEC and Binance. In the documents, Brooks said that he quickly realized after joining Binance.US that CZ was still calling the shots. He said that CZ had the final say on all major decisions and that Brooks was often overruled when he tried to make changes. Brooks also said that he was never

Binance exchange has now announced the immediate suspension of USD deposits.
11 months ago 1 min read

Binance US Forced to Stop USD Transfers Amid SEC Investigation

The recent developments surrounding Binance US continue to bring bad news for the cryptocurrency exchange. Following the US Securities and Exchange Commission’s (SEC) lawsuit against Binance’s US arm, the exchange has now announced the immediate suspension of USD deposits. Additionally, Binance US customers have been notified that banking partners are preparing to suspend fiat (USD) withdrawal services as early as June 13. These measures are a direct result of the SEC’s aggressive tactics, which have put pressure on the exchange’s banking partners. This article explores the implications of these actions and their impact on Binance US users. Binance US has

Billionaire celebrity investor Mark Cuban has voiced his concerns about the U.S. SEC
11 months ago 2 mins read

Billionaire Mark Cuban Takes Aim at SEC, Accuses Regulator of Ignoring Rampant Scams

Billionaire celebrity investor Mark Cuban has voiced his concerns about the U.S. Securities and Exchange Commission (SEC), stating that the recent lawsuit against Coinbase exposes a fundamental problem with the regulatory agency. Cuban believes that the SEC should adopt a more proactive approach by assisting companies in becoming compliant with securities laws, rather than solely challenging them through litigation. The outspoken entrepreneur argues that the SEC’s heavy reliance on lawyers and litigation undermines the goal of fostering compliance, investor education, and protection. According to Cuban, the SEC’s typical response to companies seeking guidance is to provide them with legal references

Commonwealth Bank of Australia
11 months ago 1 min read

Australian Bank Implements Payment Restrictions for Crypto Exchanges After Scam Concerns

In an effort to combat the rising incidents of crypto-related scams and protect its customers from financial losses, the Commonwealth Bank of Australia has taken decisive action. The bank has introduced new measures that limit customers’ ability to send money to cryptocurrency exchanges. These proactive steps aim to reduce the occurrence of scams and safeguard customers’ funds. The Commonwealth Bank of Australia has announced that it will now decline or hold certain payments to crypto exchanges, effectively preventing customers from completing such transactions. Additionally, the bank plans to implement a monthly limit of $10,000 (AUD) on outbound payments to cryptocurrency

About us

Optimisus is a Dubai-based fintech media company. We cover the latest AI, crypto, NFT, metaverse, blockchain, and Fintech news influencing the crypto industry.

Email: media@optimisus.com

Get Instant Notifications

Join over million readers and get the latest posts delivered straight to your inbox.

© copyright 2024 all rights reserved | Optimisus