Ripple CTO David Schwartz has been criticized for alleged market manipulation of Flare (FLR) tokens with his recent comments on the FLR token airdrop. The current Flare holding rules for subsequent airdrops leave absolutely no incentive not to sell your Flare now. You lose *nothing* if you sell now. 1/3 — David “JoelKatz” Schwartz (@JoelKatz)…
Embattled crypto lender Genesis owes over $3 billion to its creditors, the Financial Times reported on Jan. 12, citing sources familiar with the matter. The lender owes $900 million to users of Gemini’s Earn program, over $303 million to Dutch exchange Bitvavo, as well as money to users of crypto savings firm Donut. On Jan….
Silvergate Bank received $4.3 billion from the San Francisco-based Federal Home Loan Bank last year, following the collapse of crypto exchange FTX, according to the firm’s Q4, 2022 flings. Silvergate’s business model focuses on providing banking services to crypto exchanges and investors. Around 90% of the bank’s deposits come from crypto. At the end of…
Disclosure: This is a sponsored post. Readers should conduct further research prior to taking any actions. Learn more › Anyone with a passing familiarity with cryptocurrency will know that the market has been in a downward slide since November 2021. Ever since Bitcoin hit $69,000 back then, the market has been shedding value on an…
Europe’s largest digital asset investment group Coinshares believes there is only “minor negative sentiment” within the crypto markets now following a grueling 2022 bear market. As Bitcoin threatens to touch $18,000 for the first time since mid-December, Coinshares analysis reveals that outflows from global crypto funds are starting to wane. According to a recent blog…
Coinbase is closing down a majority of its operations in Japan and laying off staff located there, according to Bloomberg News. On Jan. 11, Coinbase’s Vice President for Business Development, Nana Murugesan, announced the news by stating: “We’ve decided to wind down the majority of our operations in Japan, which led to eliminating most of…
Binance failed to follow its procedures for BUSD reserves between 2020 and 2021 since it didn’t keep enough reserves to support its BUSD stablecoin, according to a report by Bloomberg. The mismanagement led to Binance-peg BUSD being undercollateralized three times between 2020 and 2021, with collateral gaps exceeding $1 billion on each occasion, according to…
The Digital Currency Group (DCG) has responded to recent allegations made by Gemini co-founder Cameron Winklevoss against the DCG, calling them “desperate and unconstructive publicity stunts.” This is another desperate and unconstructive publicity stunt from @cameron to deflect blame from himself and Gemini, who are solely responsible for operating Gemini Earn and marketing the program…
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Coinbase, the largest cryptocurrency exchange in the U.S., announced a major restructuring plan that will help it weather the broader crypto market downturn. Brian Armstrong, the exchange’s CEO, announced today that Coinbase will lay off around 950 of its employees globally. The move will reduce the company’s operating expense by around 25% quarter over quarter…