FTX Debtors recently filed an amended Chapter 11 reorganization plan, which has garnered significant attention due to the potential losses it may cause for creditors. The plan proposes valuing the creditors’ claims at crypto prices on November 11, 2022, the day FTX filed for bankruptcy. Unfortunately, this particular date became notorious as it marked the
Exchanges
Coinbase recently made headlines when it announced its decision to add Bonk (BONK), a Solana network token, to its list of tradable assets. This move marked a significant addition to Coinbase’s offerings, which already include memecoins like Shiba Inu and Dogecoin. Despite being a memecoin, BONK has managed to secure a position among the top
Cryptocurrency exchange Gemini has unveiled a reorganization plan that estimates users of its Gemini Earn platform will only recover between 61% and 100% of the value of their pending Earn balance as of January 19, 2023. The plan, disclosed in an update on Gemini’s website, has sparked widespread outrage among users who label it as
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently reached a settlement with cryptocurrency exchange CoinList regarding violations of sanctions related to Russia and Ukraine. Over a two-year period, CoinList processed 989 transactions worth $1.25 million from users residing in Crimea, a disputed region that was annexed by Russia in 2014. OFAC deemed this
Coinbase International, a prominent cryptocurrency exchange, is set to launch spot trading for Bitcoin (BTC) and Ethereum (ETH) on its platform on December 14th. This move is part of Coinbase’s global expansion strategy, aimed at catering to a broader range of users and enhancing liquidity. The company plans to pair these top cryptocurrencies with the
The cryptocurrency market is no stranger to volatility, with price fluctuations being a common occurrence. However, an interesting phenomenon has been observed in recent years – a reduction in volatility due to changes in investor behavior, particularly in the futures market. By analyzing Bitcoin’s price changes and significant liquidations in 2021 and 2023, it is
As digital currencies and related products continue to gain traction, Google has announced its plans to update its Cryptocurrencies and related products policy in January 2024. This policy revision will specifically target the advertisement of Cryptocurrency Coin Trusts. Not only will this change allow advertisers in the United States to promote these financial products, but
In a recent filing on December 8th, the U.S. Securities and Exchange Commission (SEC) made a significant move by asking the court to take judicial notice of newly unsealed documents pertaining to Binance and its former CEO, Changpeng Zhao. The SEC aims to utilize these plea agreements in its ongoing case against Binance as evidence,
Binance, one of the largest cryptocurrency exchanges, experienced a significant decline in its Bitcoin balance during the month of November. According to the latest proof of reserves report, the exchange’s Bitcoin balance dropped by over 23,000 BTC, or roughly 4%. This decline directly correlates with the regulatory issues Binance faced with U.S. authorities. The report
The UK Financial Conduct Authority (FCA) has recently added Poloniex, a crypto exchange linked to Justin Sun, to its warning list of companies offering financial services without proper authorization. This move by the financial regulator highlights the need for caution when dealing with Poloniex and raises concerns among UK residents. This article will delve into
