According to a Jan. 5 report published by Chinese blockchain security firm LianAn Technology, decentralized finance (DeFi) exploits across blockchains worldwide totaled $3.64 billion in 2022. This represented a rise of 47.4% compared with the loss of $2.44 billion in 2021. The incidents increased in quantity despite a steep 80% loss in the total value …
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Crypto lending platform Genesis Global Trading has reportedly cut 30% of its workforce in the second round of layouts in six months. According to a Jan. 5 Wall Street Journal report, Genesis reduced its staff by 30% following the platform suffering losses from loans to Alameda Research and Three Arrows Capital. An update to its …
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Fourteen years after Bitcoin’s Genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies’ future and economic impact. On Dec. 14, the Financial Accounting Standards Board (FASB) discussed new accounting and disclosure requirements for entities holding crypto assets …
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Liquidators of Three Arrows Capital have demanded key documents from the firm’s founders. The subpoena was delivered over Twitter through the liquidator’s official Twitter handle. The liquidators have alleged that both Su Zhu and Kyle Davies have not been cooperating. The founders have been vocal on Twitter about their firm’s relationship with FTX and the …
The Dogecoin (DOGE) Foundation is ratcheting up efforts to support the growth and development of the meme token ecosystem. The foundation says that it is setting up a new Dogecoin Core development fund which will be managed by developers and the signatories on Dogecoin Foundation’s board. The foundation has sent 5,000,000 DOGE to the Dogecoin …
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On this week’s episode of Market Talks, Cointelegraph welcomes Mohit Sorout, co-founder of Bitazu Capital, a proprietary algorithmic trading and investment management platform. This week, to kick things off, we get to know a little bit about Sorout, his background in finance and trading. We also dive into his skillset, trading style and unique approach …
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Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies were subpoenaed on Twitter on Jan. 5, after the liquidators granted permission from Singapore authorities following a United States bankruptcy court order, according to information given to Cointelegraph by advisory firm Teneo. In the case of Davies, the Southern District of New York Bankruptcy Court …
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Despite the crypto winter, nonfungible tokens (NFTs) continue to draw interest. This has become apparent as many brands and retailers have started to offer digital NFTs attached to physical products. Known as “phygitals,” these offerings allow real-world products to be tied to digital NFTs. For example, RTFKT — a digital fashion and collectible company — …
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New York Attorney General Letitia James has filed a lawsuit against Alex Mashinsky, alleging the Celsius founder and CEO made numerous “false and misleading statements” which led to investors losing billions. In a Jan. 5 announcement, the New York Attorney General’s office announced the lawsuit, which allegedly involved defrauding investors — including more than 26,000 …
Summary: Attorney General Letitia James accused former Celsius CEO Alex Mashinsky of leading investors “down a path of financial ruin”. James’ lawsuit seeks to ban Mashinsky from doing business in New York and secure restitution for aggrieved customers. Mashinsky stepped down as CEO in September 2022 amid over $1.2 billion in bankruptcy claims from creditors. …
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European Central Bank (ECB) Executive Board member Fabio Panetta published a post in the ECB blog emphasizing the need for regulations in the crypto industry. “We can’t afford to leave cryptos unregulated.” Crypto Concerns Panetta described unbacked crypto assets as speculative assets that lack any intrinsic value. Since investors only buy these assets to sell …
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Bitcoin bull Anthony Pompliano and author Michael Shellenberger debated the merits of cryptocurrency, with differences in opinion boiling down to contrasting outlooks on the role of government. Shellenberger is a staunch Bitcoin critic Shellenberger likened his Bitcoin stance to Senator Elizabeth Warren’s, who recently proposed harsh legislation “leveling the playing field between crypto and [the] …
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BONK Solana meme token loses 35% of its market value in six hours, recording $140 million diluted market cap loss — down 51% from its ATH. 1 min read Updated: January 5, 2023 at 4:38 pm Cover art/illustration via CryptoSlate BONK saw over $140 million of its diluted market cap wiped over the last six …
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Silvergate Capital faced a $8.1 billion bank run and was forced to sell assets at a loss, resulting in a $718 million loss. 1 min read Updated: January 5, 2023 at 2:18 pm Cover art/illustration via CryptoSlate Silvergate Capital was forced to sell assets at a loss in order to cover an $8.1 billion bank …
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The exchange pointed at the declining trading activity on Huobi as the reason for this decision. 1 min read Updated: January 5, 2023 at 1:47 pm Cover art/illustration via CryptoSlate Singaporean crypto exchange Pionex announced that it removed Huobi’s market-making funds from its platform due to the gradually declining trading activity on the exchange. The …
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