Digital Currency Group might sell assets from its venture portfolio to come up with funds to help Genesis, its wholly-owned subsidiary, cover a $3 billion shortfall, according to a report on Thursday from the Financial Times. That means DCG’s stakes in more than 200 crypto projects—including data firm Dune Analytics, Ethereum block explorer Etherscan, crypto exchange Coinbase, and USD Coin…
With no job and under house arrest, Sam Bankman-Fried has taken the next logical step and launched a Substack newsletter. In the first post of the aptly-called “SBF’s Substack,” the disgraced former FTX CEO blamed Binance CEO Changpeng ‘CZ’ Zhao for the demise of the crypto exchange’s sister firm Alameda Research. “An extreme, quick, targeted crash precipitated by the CEO…
Bitcoin (BTC) wobbled at $18,000 at the Jan. 12 Wall Street open despite United States inflation continuing to fall. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin traders stay wary post-CPI Data from Cointelegraph Markets Pro and TradingView showed BTC/USD encountering predictable volatility around the release of Consumer Price Index (CPI) data for December. The first such release of 2023, the…
In the midst of a bear market, the last story the crypto industry wanted to see hit the headlines was the debacle at FTX. It’s a story centered on the biggest negative perception many in the public still have of the crypto industry: that transactions regularly happen out of public view for the benefit of a handful of bad actors…
According to several reports, Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria’s attorney general, said the probe into Nexo is a large-scale operation involving 300 investigators from various agencies, including the National Security Service, Gendarmerie, and Sofia Police. Bulgarian Law Enforcement Raids Offices of Crypto Lender…
Former FTX CEO Sam Bankman-Fried has largely denied the allegations against him in a ‘pre-mortem overview’ of the crypto exchange’s insolvency. In a Jan. 12 post on Substack, Bankman-Fried — differentiating between companies under the FTX umbrella — claimed FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with roughly $350 million in…
Having taught and studied token economics at the University of Nicosia, I’ve found that students often have some decidedly muddled beliefs about how what tokens are and how business and token economies work. Unlike microeconomics and macroeconomics — which are based on decades of research, debate and inquiry that have produced some commonly accepted principles — tokenomics is a much…
We’re thrilled to announce that we have added ten new NFT collections to Kraken NFT for our current beta testers to explore, collect and trade. After revealing dozens of NFT collections over the past few weeks, we carefully selected these new collections so you can continue to build the NFT collection of your dreams with zero gas fees.* We will…
Cryptocurrency broker Genesis Global allegedly owes its creditors more than $3 billion, according to a new report published by the Financial Times on Jan. 12. Its parent, Digital Currency Group (DCG), which also owns Grayscale Investments and its series of digital asset trusts, seeks to sell part of its venture capital holdings to offset the shortfall. According to people familiar…
Consumer prices fell slightly in December, with Bitcoin and other cryptocurrencies holding their ground in hopes of smaller interest rate hikes from the Federal Reserve. The Bureau of Labor and Statistics said Thursday its Consumer Price Index (CPI) rose 6.5% in the 12 months through December, a decrease from 7.1% in November. Analysts expected the index, which tracks price movements across…
