Top Stories This Week Crypto lender Genesis files for Chapter 11 bankruptcy FTX contagions continue to spread through the crypto industry, with Genesis Capital filing for bankruptcy protection in New York, estimating liabilities in the range of $1 billion to $10 billion, and assets at the same level. The company plans a “dual track process,”…
READ MOREBinance has informed its retail customer base of a potential incoming service disruption that may halt on and off-ramp bank payment transfers.The service disruption will impact users of U.S Dollar-held bank accounts that are looking to buy or sell cryptocurrencies for less than $100,000 via the SWIFT payment system. The disruption will take effect on…
READ MOREThe crypto market has been remarkably bullish since the turn of the new year. In the last three weeks, several assets have experienced price rallies, like Bitcoin, which gained over 37% to trade above $21,000 for the first time in two months. While that is an impressive feat, altcoins have been the real stars of…
READ MOREIn recent times, the Solana price has witnessed a considerable upward push, which made the coin breach important resistance levels. Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%. As Bitcoin’s price has remained above $20,000, most altcoins have shown positive…
READ MOREThani Al-Zeyoudi, the United Arab Emirate minister of state for foreign trade, while speaking to Bloomberg at the world economic forum summit, hinted at the country’s plans to make crypto a critical part of its economic development. However, he noted that the UAE would subsequently come up with proper regulations to guide the use of crypto. The…
READ MOREThe general downturn in the cryptocurrency market in 2022 caused a significant drop in user engagement within the play-to-earn (P2E) ecosystem, a Santiment report states. However, there has been a recent uptick in interest in crypto gaming, particularly in early 2023. Since the beginning of the year, DappRadar reports that the most popular peer-to-peer (P2P)…
READ MOREThe Commodity Futures Trading Commission (CFTC) commissioner, Christy Goldsmith Romero, has questioned the diligence of FTX’s Venture Capitals, given that they did not provide any oversight even with the staggering levels of the now-bankrupt exchange’s poor and unskilled management. Romero’s tough questions Speaking to Bloomberg, the commissioner raised serious questions regarding the investors’ frame of mind…
READ MOREThe Commodity Futures Trading Commission (CFTC) and other regulatory bodies have joined the Securities and Exchange Commission (SEC) of the United States in filing charges against a crypto user accused of organizing a fraudulent scheme that leads to millions of dollars in losses in Mango Markets, a DeFi protocol. SEC: Avraham “Avi” Eisenberg took advantage…
READ MOREFormer FTX U.S. president, Brett Harrison, has launched his new cryptocurrency startup, Architect, on Twitter. Architect raises $5m in funding round Harrison, who was president of FTX U.S. for some time, announced the launch of Architect and the closing of the seed round in a Twitter thread yesterday. The firm has already raised $5m in seed funding…
READ MOREBitcoin bulls push BTC to highs of $23,300 https://coinjournal.net/news/bitcoin-hits-5-month-high-as-bulls-push-btc-above-23k/
READ MORE