Cryptocurrency
World’s largest bitcoin fund slams the SEC, sues over crypto ETF rejection
Digital currency asset manager Grayscale is in a legal fight with the U.S. Securities and Exchange Commission over its latest rejection of the company’s prospective spot bitcoin exchange-traded fund. Last Wednesday, the SEC denied Grayscale’s application to convert its bitcoin trust to a spot ETF. The company filed a lawsuit the same day. Grayscale Bitcoin […]
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Mike Novogratz says most of the crypto carnage is done, but prices could be stuck for a while
Galaxy Digital CEO Mike Novogratz said crypto doesn’t have much further to fall, but it could remain in choppy sideways trading before new capital enters the space. Cryptocurrency prices have been tumbling all year with other risk assets as the Federal Reserve began raising interest rates to fight persistently high inflation. The price of bitcoin […]
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Underwater bitcoin miners are turning up the selling pressure on crypto
Bitcoin prices have fallen so low that the cryptocurrency’s miners have become sellers, further pressuring the already downcast market. Recent data shows an increase in the amount of bitcoin moved by miners from the mining pool to crypto exchanges in June, as the price of the cryptocurrency slid from $30,000 to $20,000, according to CryptoQuant. […]
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Billions in bitcoin trapped on lending platforms like Celsius may turn into a tax writeoff for investors
Crypto lending platforms like Celsius, Anchor, and Voyager Digital rose to prominence for offering almost unbelievable returns of up to 20% annually on customer deposits. Now, much of that crypto cash is trapped, as plunging token prices force platforms to temporarily suspend or limit withdrawals. In the wake of its own solvency crisis, Celsius — […]
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Crypto brokerage Voyager Digital files for Chapter 11 bankruptcy protection
Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank. Justin Sullivan | Getty Images Beleaguered crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset […]
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Crypto lender Nexo offers to buy embattled rival Vauld as market consolidates
Bitcoin, the world’s biggest cryptocurrency, is down more than 50% since the start of 2022. Nurphoto | Getty Images Beleaguered cryptocurrency lender Vauld has been thrown a lifeline from larger competitor Nexo, in a sign of mounting consolidation in the crypto market. Nexo said Tuesday it had signed a term sheet with Vauld giving it […]
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Another crypto lender Vauld pauses withdrawals as market crash takes its toll
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Crypto lender Vauld on Monday paused all […]
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British Army’s Twitter and YouTube accounts hacked to promote cryptocurrency scams
A screenshot of the British Army’s Twitter profile when it was hacked, via Wayback Machine. Its profile and banner pictures were changed to resemble a nonfungible token collection called “The Possessed.” A hacker compromised the social media accounts of the British Army to push people toward cryptocurrency scams. The army’s Twitter and YouTube profiles were […]
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Bitcoin Family say they lost $1 million on their investment this year, but sold a lot at peak
‘Bitcoin Family’ opens a bitcoin beach bar in Lagos, Portugal Didi Taihuttu The “Bitcoin Family” is down more than $1 million on their bitcoin investment since the world’s most popular digital coin peaked at around $69,000 in Nov. 2021 — but patriarch Didi Taihuttu is as bullish as ever. “I’m buying bitcoin daily,” Taihuttu told […]
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Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy
Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets, according to a court filing on Friday. Singapore-based 3AC is one of the biggest casualties of the latest so-called “crypto winter” to date. […]
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