The lending firm claims it’s having “constructive conversations with creditors” and plans to resolve the situation without the need for a bankruptcy filing. Cryptocurrency lending company Genesis has refuted speculation that it is planning an “imminent” bankruptcy filing should it fail to cover a $1 billion shortfall caused by the fall of crypto exchange FTX....Continue Reading

Meanwhile, Ethereum users are sending encoded messages to the FTX hacker pleading for a share of funds. The hacker behind the theft of more than $447 million of crypto from the crypto exchange FTX has been again spotted moving their ill-gotten funds.  According to Etherscan data, between 4:11 to 4:17 pm UTC on November 21,...Continue Reading

The committee members, seemingly spurred to vigilance by the FTX debacle, do not see evidence of SoFi Digital Assets shaping up the way the Fed ordered. Chairman of the United States Senate Banking Committee Sherrod Brown and three other Democratic committee members sent letters Nov. 21 to federal officials and to Anthony Noto, president of...Continue Reading

Though the mood among many who showed up in Austin was bullish, most commented on the collapse of FTX and the drop in the price of Bitcoin. Apparently, not everything is bigger in Texas. At least not in the days following a major crypto exchange declaring bankruptcy. The collapse of FTX and the ripples former...Continue Reading

The total crypto market cap has dropped under $800 billion, but data highlights a few reasons why some traders are bullish. The total cryptocurrency market capitalization dropped by 5% between Nov. 14 and Nov. 21, reaching a notable $795 billion. However, the overall sentiment is far worse, considering that this valuation is the lowest seen...Continue Reading

‘Djed’ is set to go live in Jan. 2023, after a successful audit and a series of rigorous stress tests Proof-of-stake blockchain platform, Cardano, has partnered with COTI, a DAG-based Layer 1 protocol, to launch what it refers to as an over-collateralized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the...Continue Reading

Blockchain technologies can bring improvements to finance, given a regulatory framework, and links between DeFi and TradFi are being rapidly cemented already, Cunliffe said. Bank of England Deputy Governor Sir Jon Cunliffe shared thoughts on cryptocurrency regulation and decentralized finance (DeFi) in a talk on Nov. 21. He intended to speak about stablecoins and central...Continue Reading

The hearing, titled ‘Why Congress Needs to Act: Lessons Learned from the FTX Collapse’, will be one of the first in which U.S. lawmakers explore what happened with the exchange. The United States Senate Agriculture Committee has announced that Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam will be one of the witnesses in...Continue Reading

Lido protocol boasts $1 million in daily fee revenue for nearly a month, highlighting its growth in daily active users and Ethereum stakers. The crypto market has witnessed a turbulent few weeks after the FTX collapse but Lido Finance, a liquid staking protocol, has been a bright spot amidst the chaos. According to Data from...Continue Reading

The founder of FTX provoked the withdrawal of his legal team and now faces the possibility of extradition to the United States. As much as we all would want last week to be about something else, it was still all about FTX. The Supreme Court of the Bahamas has approved two provisional liquidators from PricewaterhouseCoopers...Continue Reading