Celsius auction has Gemini and Coinbase as new bidders: Report

Two new consortiums will dispute the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York. According to reports and court filings, crypto exchanges Gemini and Coinbase are among the companies participating in the bids.  Court documents show that one of the consortiums is Fahrenheit, backed by venture capital firm Arrington Capital, which is owned by blockchain investor Michael Arrington. Other participants in the consortium are Proof Group Capital Management, former Algorand CEO Steven Kokinos and investment banker Ravi Kaza. Arrington mentioned that Coinbase…

Bhutan’s sovereign investment arm quietly invests millions in crypto: Report

The Kingdom of Bhutan’s sovereign investment arm estimated to manage around $2.9 billion in assets has placed millions of dollars in cryptocurrencies and was a customer of bankrupt crypto firms BlockFi and Celsius.  Druk Holding and Investments (DHI), a commercial arm of the royal government of Bhutan, has grown a crypto portfolio without disclosing it to the public according to a report released by Forbes. The funds were brought to light following the crypto contagion last year when companies like Celsius and BlockFi filed for bankruptcy. User Deposit and Withdrawal…

Switzerland preparing emergency measures for UBS’ takeover of Credit Suisse: Report

The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS, Switzerland’s largest bank, is the “only option” to prevent a “collapse in confidence” in Credit Suisse. According to a March 18 Financial Times report citing three people familiar with the situation, Switzerland is preparing to use “emergency measures” to accelerate the takeover by UBS of Credit Suisse, in an effort to finalize the acquisition before “markets open on Monday.” It was noted that the emergency measures set in place…

Privacy Coin Interest Stays Tepid as Leading Coins Report Modest Gains in 2023 – Altcoins Bitcoin News

Over the past 90 days, the top privacy coins by market capitalization have seen an increase of just over $2 billion, rising from $4.65 billion on Nov. 9, 2022 to $6.69 billion today. However, while crypto assets such as bitcoin and ethereum saw gains of 30% or more in 30 days, privacy tokens like monero and zcash saw more modest increases, with growth ranging from 8.7% to 10.6% in the last month. Top Privacy Coins See Slow Growth as Market Capitalization Increases by a Mere $2 Billion in 90 Days…

Crypto ad deals for Super Bowl LVII fell apart after FTX collapse: Report

Fans watching the Kansas City Chiefs face off against the Philadelphia Eagles in Super Bowl LVII on Feb. 12 will reportedly not see a plethora of ad spots for cryptocurrency companies, as they did in 2022. According to a Feb. 6 Associated Press report, there had been four potential deals with crypto firms for commercials costing roughly $6 to $7 million in the 2023 Super Bowl, all of which fell apart following the FTX bankruptcy filing in November. Fox Sports executive vice president of ad sales Mark Evans reportedly said…

National Australia Bank Becomes Second Australian Bank to Build Stablecoin: Report

The purpose of AUDN would be to allow its customers to settle transactions on blockchain technology in real-time using Australian dollars, NAB said. AUDN could also be used for several other purposes including “carbon credit trading, overseas money transfers and repurchase agreements,” NAB’s Chief Innovation officer Howard Silby told AFR. Author: Amitoj Singh Source link

Genesis is planning to file for bankruptcy: Report

Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week. According to a Jan. 18 Bloomberg report, Genesis previously said it was considering a bankruptcy filing if it were unable to raise cash amid a liquidity crunch — a situation similar to that preceding crypto exchange FTX’s Chapter 11 filing in November. Citing people with knowledge of the situation, Bloomberg reported Genesis could file for bankruptcy as soon as this week. The report followed…

Digital Currency Group under investigation by U.S. authorities: Report

Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice’s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report.  The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from both the companies, while the SEC is running an early-stage similar inquiry. As of yet, no indictment has been brought…

FTX asset sales challenged by U.S. Trustee: Report

Bankrupt crypto exchange FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters. As per the filing, U.S. Trustee Andrew Vara called for an independent investigation before any sale, claiming that valuable information related to the exchange’s bankruptcy could be compromised. The document states: “The sale of potentially valuable causes of action against the Debtors’ directors, officers and employees, or any other person or entity, should not be permitted until there has been a…