Digital Surge lost about $33 million in the collapse of FTX. The exchange froze customer funds on November 16. The exchange had passed into voluntary administration in December. After about two months of anguish, crypto exchange Digital Surge creditors can now smile after news that the exchange will pay back its creditors. The news came […]
Lenders accuse DCG CEO of hoax deal to hide $1.1b loss
In a proposed securities class action lawsuit against Digital Currency Group Inc., a group of lenders claimed that Barry Silbert, the CEO of an insolvent crypto firm, concocted a “misleading phony deal” to hide an impending $1 billion implosion. Former…
For financial market, all you need to know is about pocket option
A financial market is a place where investors and companies come together to raise capital for business expansion and profitable returns. In this market, the buyers and the right sellers are put in touch, and the sellers profit by getting in touch with the most qualified consumers of their financial products. These markets are split […]
Banks are allowed to hold this exposure in Bitcoin and Ethereum with new law – Report
In a statement regarding the new development, a spokesperson for the AFME, Caroline Liesegang, said the Parliament, Commission, and Council should provide a clear definition of what can be considered as crypto assets. The Parliament added that the modifications align with the measures by the organization in charge of international banking standards (BCBS). The European […]
Saudi Arabia’s Central Bank Halts Plans To Launch CBDC
The Saudi Arabian Monetary Authority (SAMA) has not yet disclosed any plans to use central bank digital currencies (CBDCs), although they are increasing their research into the issue. The bank announced that it was working on a phase of a project that “focuses on domestic wholesale CBDC use cases in conjunction with local banks and […]
Prosecutors seize SBF’s $50M deposit to small bank
Prosecutors seized just under $50 million belonging to FTX founder Sam Bankman-Fried (SBF) held in Farmington State Bank on Jan. 4, according to a Yahoo Finance (YF) report on Jan. 24. The total amount seized was only $500 short of $50 million, according to the YF report. The bank specialized in agricultural loans to farmers […]
Celsius Floats Plan to Exit Bankruptcy by Issuing New Token
A lot has happened during the Celsius bankruptcy case since the platform originally went under back in July. Between accusations of fraud, arguments that customers (or unsecured creditors, according to the firm) signed over their crypto, alleged attempts by the former CEO to flee the country, and more, Celsius’ court proceedings have been a wild […]
Smart contracts to power day-to-day Web3 company operations
The project aims to help decentralized autonomous companies by providing an operating system that integrates various tools for governance and management.
What Is Market Capitulation
25 January 2023 | ZebPay Trade-Desk Capitulation means yielding. In financial terms, this reflects a hard selling period when the last few bulls surrender to become bears. Suppose a crypto falls 30% overnight, an investor has two options: hold or sell to take losses. If most investors decide to take losses, there will be a […]
Binance Now Allows You to Transfer Crypto to Your Bank in the Philippines
Subscribe to our newsletter! Global cryptocurrency exchange Binance has enabled a feature that allows users in the Philippines to transfer their cryptocurrency holdings directly to their bank account, the company recently announced. With this new feature, Binance users in the Philippines can transfer their cryptocurrency holdings to their bank accounts and have them arrive in […]