House Financial Services Chair Maxine Waters today thanked disgraced FTX founder Sam Bankman-Fried for being “candid” when talking about the bankrupt exchange. Waters (D-CA) also invited Bankman-Fried, who ran FTX until early November before its ignominious and well-publicized crash, to testify before the committee. The bipartisan hearing will take place on December 13 and will look into FTX’s fall and…
press release PRESS RELEASE. In September of this year, blockchain media outlet, Cointelegraph, reported that cryptocurrency trading platform MEXC has ranked as the world’s top liquidity provider. Recently, MEXC announced the growth of its contract business, and its average daily trading volume has reached an increase of 1,200%. 「Users first, MEXC’s Changing for you」has always been the service philosophy that…
The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Terra Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers. In a Dec. 2 hearing in United States Bankruptcy Court in the Southern District of New York, lawyers for…
Private equity giant Apollo Global bought Verizon Media—a group that includes Yahoo Finance, Yahoo Sports, AOL, TechCrunch, Engadget, and Autoblog—in May 2021 for $5 billion. Now its revenue strategy for those properties is becoming clearer. Axios reports that Apollo plans to offer sports betting through Yahoo Sports, and retail stock trading on Yahoo Finance. There are signs it will also…
The downfall of FTX and a number of other CeFi platforms in 2022 has reinforced a Bitcoin maximalist narrative, according to which most of the crypto ecosystem will eventually collapse due to its centralization. Jeff Booth, Bitcoin proponent and author of “The Price of Tomorrow”, believes centralized crypto platforms such as FTX and Celsius have ended up replicating the traditional…
Polkadot rose to its highest level in nearly two weeks on Dec. 2, despite cryptocurrency markets sliding following the latest nonfarm payrolls report. The global crypto market cap is down 0.57% as of writing, as prices consolidated following the data being released. Uniswap was also higher, despite the turbulent sentiment on Friday. Polkadot (DOT) Polkadot (DOT) moved to a 12-day…
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Mike Novogratz’s Galaxy Digital has won the bid to acquire GK8, a self-custody crypto firm. GK8 was first acquired by Celsius in November 2021 for $115 million. After Celsius filed for bankruptcy, the self-custody firm was put up for auction as part of Celsius’ proceedings. Today’s acquisition cost was not disclosed, but a representative of Galaxy Digital told Decrypt that…
On Tuesday, Brazil’s Chamber of Deputies approved a landmark cryptocurrency legislation that sets the tone for how the country will regulate bitcoin. Key aspects of the bill relate to the way “virtual assets” are defined and their possible local uses, who can provide services to the public and what are the penalties for fraud and money laundering that involve cryptocurrencies.…
RBB Lab, a technology development firm based in the Republic of San Marino, has utilized nonfungible token (NFT) technology to issue a court summons to a former employee and a contractor. RBB Lab CEO Enrico Rubboli told Cointelegraph that it summoned the two individuals to the Judiciary of Italy on claims of attempted extortion and aggravated defamation of the firm.…
