NBA champions Golden State Warriors are now among the individuals and organizations involved in a recent string of class action lawsuits related to the FTX crash. Multiple reports reveal that the NBA team is now accused of misleading FTX customers about the safety and reliability of the cryptocurrency exchange. The…
Digital asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and the firm has warned potential investors that it may need to file for bankruptcy if its efforts end up to no heed, according to a Bloomberg News report. The firm has faced a liquidity crunch…
FTX founder and former CEO Sam Bankman-Fried (SBF) quietly cashed out $300 million (roughly Rs. 2,430 crore) in personal stakes after a $420 million (roughly Rs. 3,410 crore) fundraising in October 2021, as per a recent report. At the time of the fundraising, Bankman-Fried told investors that the raise would…
Crypto analytics firm Chainalysis has disclosed that FTX owes it money in connection with the bankruptcy proceedings for the beleaguered cryptocurrency exchange. Chainalysis was listed as a creditor in filings submitted to the Delaware bankruptcy court on Wednesday, and it requested that any pertinent records be delivered to its attorneys….
Crypto lending firm BlockFi has announced that it was “not able to operate business as usual,” citing a lack of clarity regarding FTX, FTX.US, and Alameda Research as the reason. The leading cryptocurrency lending platform says that until there is clarity, it will be limiting activity including pausing withdrawals. It…
Giottus, an Indian crypto exchange, has taken a bold step to mark its impression in the crypto sector and make it to the headlines. Amid silence from rival crypto exchanges on the subject, Giottus has said that it will provide proof of reserves in order to add another layer of…
Voyager, the crypto lending platform that declared bankruptcy earlier this year, is analysing buy-out offers for its assets from other players in the crypto sector. At present, crypto exchanges Binance and FTX are standing neck-and-neck to outbid each other and bag the worthy remains from Voyager’s business. The price point…
The crypto sector saw the successful completion of 725 deals in the first half of this year. So far in 2022, the industry has bagged investments of $14.2 billion (roughly Rs. 1,13,500 crore), a new report by KPMG has claimed. The organisation is among India’s renowned providers of risk, financial,…
FTX crypto exchange will be briefly pausing all deposits and withdrawals of ETH and ERC-20 tokens as the Etheruem blockchain gears up to transition into its eco-friendly upgrade, named the Merge. The final Bellatrix update for this transition to complete is scheduled to start on Tuesday, September 6. The Merge…
A US bank regulator ordered crypto exchange FTX on Friday to halt what it called “false and misleading” claims the exchange had made about whether funds at the company are insured by the government. The Federal Deposit Insurance Corporation said a July tweet by Brett Harrison, head of FTX’s US…
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