Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan. On May 12, BlockFi outlined its Chapter 11 plan of reorganization in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors…
The European Union’s landmark crypto regulation has passed its final legislative hurdle, with the unanimous approval of European finance ministers. Members of the EU’s Economic and Financial Affairs Council (EcoFin) adopted the Markets in Crypto Assets (MiCA) with no objections in a meeting on Tuesday. EcoFin consists of the finance and economic ministers of all 27 EU countries, while relevant…
The now-defunct crypto lender Blockfi has recently filed a court document outlining its plans to liquidate the company. The firm has come to the realization that selling the company would not be beneficial to its creditors. As a result, Blockfi has decided to take matters into its own hands and proceed with a self-liquidating transaction. Once the assets are distributed,…
Valkyrie is putting one of fintwit’s favorite memes back to work in a new ETF filing. The investment firm yesterday filed a fresh application for a Bitcoin futures-based exchange-traded fund that’s hoped to trade on the NASDAQ under the ticker “BTFD.” Unlike the firm’s already active BTF fund, this one will be leveraged, letting speculators double down on their exposure…
European Union Council members have given the final green light on the highly-anticipated Markets in Crypto-Assets (MiCA) legislation following a voting process on May 16. 27 Finance ministers representing the EU’s member states voted in favor of passing the MiCA bill as well as amendments to a number of regulations and directives relating to the new legislation. Two more pieces of…
The 2022 crypto bank run induced by the failure of multiple giants in the ecosystem has a lasting impact on the crypto industry. A new research report from the Federal Reserve Bank of Chicago (FRBC) has identified several key factors and catalysts that accelerated the last year’s crypto crisis. The research report identified that withdrawals by crypto whales and large…
The Bitcoin Cash (BCH) network underwent a major upgrade, allowing developers to create tokens with the same properties as BCH. These are called “CashTokens,” and they can be issued by anyone using the network. The network successfully upgraded the blockchain at the BCH block height of 792,772. According to BCH developer Jason Dreyzehner, the new upgrade includes support for CashTokens,…
The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar and its exploitation in black markets. Iraq Issues Ban on…
Coinbase’s chief legal officer Paul Grewal expressed his concerns over the SEC’s response, asserting that they will happily continue overseeing the sector via r… Source: https://cointelegraph.com/public/index.php/news/sec-rebukes-need-for-imminent-crypto-rulemaking-seeks-denial-of-coinbase-petition
Around 5 billion people are online and digitally-bound assets should get the same treatment as any other type of property, says Sandbox co-founder Sebastien Bor… Source: https://cointelegraph.com/app/public/index.php/news/digital-assets-as-property-sandbox-sebastien-borget
