Browsing:Crypto

Crypto exchange Bitvavo
1 year ago 1 min read

Dutch exchange Bitvavo declines proposal to repay 70% of debt from DCG

Dutch cryptocurrency exchange Bitvavo has rejected a proposal from crypto company Digital Currency Group (DCG) to repay 70% of the debt it owes to the exchange. Bitvavo announced on January 11th that it had received a counter proposal from DCG offering to repay about 70% of the outstanding amount in a term acceptable to Bitvavo. The remaining balance amount is still under negotiation with DCG. Bitvavo said that as creditors they do not find the proposal acceptable, as they believe DCG has sufficient resources available for full repayment. Bitvavo had earlier decided to pre-fund about $290 million in assets locked

Building Blocks 23
1 year ago 3 mins read

Building Blocks Event for Web3 Startups Announced for ETH TLV With Collider, Fireblocks, and MarketAcross

Tel Aviv, Israel, 10th January, 2023 Building Blocks 23, a web3 builder-focused event, will be hosted in central Tel Aviv on February 7, 2023. Hosted by top Israeli companies as part of ETH TLV, the one-day Building Blocks event will bring together Ethereum developers and communities. A series of workshops, panel discussions, and informal events will take place across Tel Aviv throughout ETH TLV. Building Blocks 23 organizers Collider, Fireblocks, and MarketAcross, in conjunction with StarkWare, will guide delegates through the art of creating a successful web3 business. “On the global stage, Tel Aviv plays an out-sized role in innovative

Galaxy Digital Founder and CEO
1 year ago 1 min read

Galaxy Digital’s CEO Mike Novogratz sees a mixed outlook for crypto

Galaxy Digital Founder and CEO Mike Novogratz has a mixed outlook for the crypto market in 2023 during an interview with Andrew Ross Sorkin on CNBC’s Squawk Box. He said that 2022 was a “washout” for growth stocks and crypto and any companies associated with it, especially those with high costs and shrinking revenues, got hit hard. Novogratz believes that CEOs, like Brian at Coinbase, are making the right decision to cut costs and survive this transition period. Furthermore, he said that the outlook for crypto is not horrible, but it’s not great. There are regulatory headwinds that didn’t exist

Venom Ventures Fund
1 year ago 1 min read

UAE investors launch fund targeting web3 projects with $1 billion

Venom Ventures Fund is hoping to capitalize on the burgeoning DeFi, gaming, and banking services market that has seen immense growth throughout 2021. The two groups believe that Web3 is “the future of digital assets and financial services” and that their investments will help unlock new opportunities in the space. “We are excited to join forces with Venom Foundation to bring our collective experience and network of resources to a whole new level,” said Knez. The partnership between Venom Foundation and Iceberg Capital marks a major milestone in the development of the blockchain and cryptocurrency space, and highlights the potential

CoinSwitch
1 year ago 1 min read

CoinSwitch exchange adapts strategy to navigate challenging regulatory environment

An Indian cryptocurrency exchange called CoinSwitch has introduced new investment products that are not related to cryptocurrency in order to keep the business going in the wake of new taxes imposed by the government. These taxes resulted in a decrease in trading volume and a drop in income from trading fees. The new investment products offered include fixed deposits, exchange-traded funds, mutual funds, stocks, bonds, and US equities. The goal is to become a one-stop destination for wealth management for all Indians. The company’s CEO said that the company’s objective is to make investing easy for Indians and to help

FTX recovers over $5 billion in liquid funds
1 year ago 1 min read

FTX reports recovery of over $5 billion in cash and liquid cryptocurrency

FTX, a troubled crypto exchange, has reportedly “recovered $5 billion in cash and liquid cryptocurrencies.” However, the exchange is still trying to rebuild transaction history, and the total amount of customer shortfall is still unknown. Initially, FTX had $8.8 billion in total liabilities, with sources claiming it had very little in cash and liquid digital assets, creating an estimated $8 billion gap in its balance sheet. Sam Bankman-Fried, the founder of FTX, has pled not guilty to all criminal charges related to the exchange’s collapse. In response, the United States Attorney’s Office for the Southern District of New York has

WazirX is the first Indian exchange to publish a proof of reserve
1 year ago 1 min read

WazirX shows proof of reserves with major funds stored in Binance wallets

WazirX, an Indian crypto exchange, has published its proof of reserves and announced that it holds $285 million in total user assets held in Tether (USDT) at the time of writing, with 90% of these assets held in Binance-based wallets. The remaining 10% is stored in hot and cold storage wallets. The exchange stated that they chose Binance because of their strict protocols and industry-leading technical measures to safeguard user funds, and that they have a more than 1:1 ratio to protect user funds in case of liquidation. This move comes in response to recent controversies in the crypto industry,

Binance.US moved closer to a full acquisition of bankrupt Voyager Digital
1 year ago 1 min read

Voyager receives initial approval for $1 billion asset sale to Binance.US

Binance.US moved closer to a full acquisition of Voyager Digital, a crypto company that recently went bankrupt, in a preliminary court clearance worth $1 billion. On Tuesday, U.S. District Judge Michael Wiles of the bankruptcy court for the Southern District of New York gave his approval to the deal’s necessary documents, but requested some amendments before he certifies them. The agreement between Binance.US and Voyager includes a $20 million cash settlement and a commitment to migrate Voyager’s clients to Binance.US’s crypto exchange. This deal is a major benefit to both parties, as Binance would gain more customers and market share,

UK Stablecoin
1 year ago 1 min read

UK Prepares for Digital Currency Launch, Weighs CBDC in Future

The UK Economic Secretary to the Treasury, Andrew Griffith, has affirmed that the UK is likely to launch a stablecoin in the near future. Griffith made this announcement while speaking to the UK Parliament Treasury Committee about crypto assets on January 10. The launch of the stablecoin is part of the UK’s commitment to becoming a global crypto hub. The stablecoin will be issued by a third-party provider and will primarily be used for wholesale settlements between banks. The Financial Services and Markets Bill (FSMB) was introduced in July 2022 and is expected to be ready by Easter. The bill,

Zipmex crypto exchange
1 year ago 1 min read

Thai SEC launches investigation into Zipmex’s crypto exchange amid acquisition

The Securities and Exchange Commission (SEC) of Thailand is investigating a cryptocurrency exchange called Zipmex for breaking local rules. Zipmex is being looked into for possibly violating business rules for digital asset service providers, this includes the offerings of certain digital asset products. The Thai SEC has given Zipmex until Jan. 12 to explain if it has been functioning as a “digital asset fund manager without permission” in Thailand, which would be against the rules if true. Zipmex is in the process of being bought for $100 million by V Ventures, a company related to Thoresen Thai Agencies PCL. Additionally,

Ondo Finance
1 year ago 1 min read

Ondo Finance introduces tokenized US Treasury bonds for stablecoin holders

On Jan. 10, Ondo Finance, a decentralized finance (DeFi) firm launched a tokenized fund, allowing stablecoin holders to invest in U.S. Treasuries and bonds. The three products offered by the firm, U.S Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High Yield Corporate Bond Fund (OHYG) are short-term U.S Treasuries and bonds in popular ETFs managed by firms such as Blackrock and PIMCO. The funds have annual percentage yields (APYs) of 4.62%, 5.45%, and 8.02% respectively, and Ondo Finance will charge an annual management fee of 0.15%. The CEO of Ondo Finance said their goal was to

Cointelegraph Accelerator program
1 year ago 3 mins read

Cointelegraph has launched an Accelerator program for innovative Web3 startups

New York, United States, 10th January, 2023, Chainwire The program aims to help Web3’s rising stars boost their media presence, community growth and brand awareness in exchange for project tokens. The Web3 space is growing rapidly and new startups are emerging daily, with investment into Web3 projects skyrocketing to $30 billion in 2021 and around $36 billion in 2022. While many Web3 founders have great ideas and a strong value proposition to bring to the space, this is a challenging field riddled with competition and a lack of trust from the broader audience. Founded in 2013, Cointelegraph has grown to become a world leader

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