The proposal could lead to some creditors losing money, not recovering it FTX’s bankruptcy reorganization plan is being rejected by a group of creditors led by Sunil Kavuri. Several grounds for dismissing the plan were cited, including the contention that the settlement doesn’t serve creditors’ best interests. The group asserted that being reimbursed with cash
The wallet will reportedly make it easier for crypto users to manage their funds Coinbase recently announced it is launching a smart wallet. The Coinbase Wallet will benefit customers through onboarding, removing gas fees and eliminating the need for recovery phrases. The crypto exchange’s new smart wallet will allow users to open a new wallet
The taxman will still have to wait to receive the money from the failed crypto exchange FTX has reached an agreement with the US Internal Revenue Service (IRS) to settle the debt with its largest creditor. In the filing dated June 3, the bankrupt cryptocurrency exchange agreed to settle the $24-billion IRS claim, which was
One of the world’s largest banks is diving deeper into the crypto space Cryptocurrency investors in Germany can now use Bitpanda to make real-time transactions after the platform recently partnered with Deutsche Bank. The collaboration enhances transaction efficiency and security, providing strong liquidity for Bitpanda’s users in Germany. The partnership allows Bitpanda to employ an
The decision could give the SEC more control over how it views cryptocurrency US President Joe Biden has vetoed legislation to overturn US Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121, immediately receiving backlash from the crypto industry. 1/ Today, despite bipartisan support, Pres Biden vetoed the repeal of SAB 121, the
Rashawn Russell will also have to repay $1.5 million to his victims Former Deutsche Bank executive Rashawn Russell was sentenced to 41 months in prison by an Eastern New York District Court on May 30 for his role in a cryptocurrency fraud scheme and a separate device fraud case. The former investment banker entered a
PayPal is launching its stablecoin on Solana and will reportedly offer greater privacy PayPal announced on May 29 that its dollar-pegged PYUSD stablecoin, recently deployed on Solana, will provide customers with a new feature to make “confidential transfers” on the platform. According to a May 29 Solana blog post, the extension will authorize vendors to
The company was attracting investments on the basis of lies and scams The Texas State Securities Board recently issued a cease-and-desist order against Arkbit Capital, which is accused of committing fraud while conducting cryptocurrency cloud mining operations. The order states that Texas State Securities Board Financial Examiner Alexis Cantrell uncovered evidence that Arkbit Capital and
Interest in cryptocurrency investments continues to gain ground Bitcoin exchange-traded derivatives are investment products that follow the price or give BTC more exposure and have recently exceeded one million in global Bitcoin reserves. The 11 ETFs have used up 855,619 Bitcoin since spot Bitcoin ETFs first became available in the US in January 2024, earning
The former POTUS said he would free Ulbricht if elected President this fall Former US President Donald Trump said in a May 25 speech at the Libertarian Party National Convention in Washington, DC, that he will grant Silk Road founder Ross Ulbricht a presidential pardon if he wins re-election to the White House in November. “If you
The dog became famous for its connection to the cryptocurrency that started as a joke The dog behind the famous “Doge” meme and the face of Dogecoin has passed away. Kabosu, the Shiba Inu who inspired over a decade of online jokes, died peacefully on May 24. The dog’s owner, Atsuko Sato, believed she was around 18
Binance wins a round, even as it continues to face issues elsewhere Binance US has won its appeal following the suspension of its money-services business license in Florida. A Florida First District Court of Appeal ruling determined that the Office of Financial Regulation’s (OFR) emergency suspension order against the cryptocurrency exchange had no legal justification. The agency
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