The firm estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities. Source: https://cointelegraph.com/app/public/index.php/news/crypto-platform-bittrex-files-for-chapter-11-bankruptcy-following-sec-charges
A user spent an additional 76% of their total purchase price in gas fees on a single memecoin trade. Source: https://cointelegraph.com/app/public/index.php/news/worth-it-trader-spends-120k-on-gas-buying-155k-worth-of-a-memecoin
Lawyers representing Sam Bankman-Fried want all but three charges against him dismissed in a filing on May 8. Source: https://cointelegraph.com/app/public/index.php/news/ftx-founder-sam-bankman-fried-urges-court-to-dismiss-charges
The number of Ordinals inscriptions on the Bitcoin (BTC) network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days. While the Ordinals protocol was initially used to mint images as non-fungible tokens (NFTs), users began to realize that they could use text-based inscriptions to create fungible tokens in a similar…
Industry representatives have cast doubt on the legality and impact of the United States securities regulator’s proposal to expand custody rules. Source: https://cointelegraph.com/app/public/index.php/news/war-on-crypto-newly-filed-letters-lambast-proposed-sec-custody-rules
Former House Representative Ron Paul has presented his stance when it comes to the financial crisis that the U.S. is currently facing. Paul stated that the continued application of quantitative easing (QE), a policy used to increase the money supply, and the decades of almost null interest rates, are what nurtured the current financial crisis the U.S. is facing. Ron…
Bankrupt Bitcoin (BTC) mining firm Core Scientific has objected to paying a $4.7 million administrative claim put forward by crypto lender Celsius Network, leading to a battle between the firms over contractual obligations. According to the objection, which was filed in Texas bankruptcy court on May 5, Core Scientific has asked that Celsius Network’s $4.7 million administrative claims be rejected…
Almost 400 Virtual Asset Service Providers (VASPS) have voluntarily shut down or had their authorizations revoked in Estonia following the government’s recently enhanced Terrorist Financing Prevention and anti-money laundering laws (AML) that came into effect in March. The amended laws expanded the defined scope of VASPs, required firms to have legitimate links to Estonia, increased licensing fees, and capital and information…
A proposal by the United States securities regulator to tighten rules around crypto custody has been met with opposition from at least two proponents of the industry, according to recently filed letters. On May 8 — upon the deadline for comments on the proposal — crypto industry advocacy body Blockchain Association filed its letter to the Securities and Exchange Commission…
Public opinion of banks appears to be dwindling according to an April survey, as the industry struggles to contain the collapse of several high-profile financial institutions in recent months. A Gallup poll conducted across the United States in April with at least a thousand respondents revealed that 48% of them said that they were concerned about their money in the…
