Tag Archives: AA News

The official liquidator of FTX has instructed creditors to file electronic claims by May 15, 2024. The claims portal managed by PricewaterhouseCoopers (PwC) anticipates commencing its initial distribution either in late 2024 or early 2025, with all valid claims being expressed in U.S. dollars. PwC Announces Chapter 11 Settlement for FTX and Debtors In a statement, PricewaterhouseCoopers (PwC), the official liquidator overseeing FTX’s bankruptcy proceedings, disclosed that FTX...

At the beginning of last spring, the Wall Street Journal published an investigative article on Tether, Bitfinex, and related companies. The majority stake of both Tether and the Bitfinex exchange is owned by iFinex, a corporation established in the Virgin Islands. Controversial Article At the time, the Wall Street Journal claimed that the two companies, along with a slew of smaller shell firms related to the crypto businesses and their executives, employed shady methods in...

Tether (USDT), the largest stablecoin by market capitalization, continues its growth by reaching a new milestone of $100 billion. Data from CoinGecko shows that the stablecoin recorded a market cap of $100.24 billion on Monday at 9:15 UTC before returning to levels below $99.7 billion. USDT Hits $100B Market Cap Tether’s new all-time high comes just two months after the digital asset surpassed the $90 billion mark. CryptoPotato reported in December that the surge past $90...

Ilya Lichtenstein, the man behind the looting of billions of dollars from Bitfinex,  is now helping federal prosecutors build a case against Bitcoin Fog, a crypto mixing service. Lichtenstein pleaded guilty to money laundering charges last year after hacking Bitfinex and getting away with Bitcoin worth $3.6 million. Lichtenstein Testifies in Washington Trial According to Bloomberg, Lichtenstein appeared in a Washington, D.C., trial this week where Roman Sterlingov was accused...

The crypto market’s rally clearly indicates that institutions have shown a stronger preference for Bitcoin and Ether, allocating approximately 40% each to these top assets. As of January 31st, 2024, these entities have dedicated 15% to stablecoins and only 5% to alternative coins. A new report by Bybit suggests that institutional portfolios have become significantly more focused, increasing from 50% to 80% over the past few months. In contrast, retail investors display a...

Some on-chain indicators are flashing signs that Bitcoin (BTC) may be overheating following its rally to the $64,000 price mark, indicating a significant correction could occur soon. According to a weekly report from market intelligence firm CryptoQuant, the rising traders’ unrealized profit margin and the high cost of opening new long positions in perpetual futures markets suggest the emergence of a pause or correction in BTC’s price. BTC’s Remarkable Rally Since the...

U.S.-based Bitcoin mining behemoth Marathon Digital has published its quarterly earnings report and has beaten analyst predictions by a good margin. Paradoxically, Marathon’s stock price dipped shortly after the announcement. This is, however, likely a temporary blip. Stunning Financial Results Although Marathon Digital was not necessarily in trouble last year, the crypto winter definitely put a bit of a damper on its plans, as did the SEC, who targeted the firm among a slew...

In February, the crypto industry saw losses totaling approximately $160 million due to exploits, hacks, and scams. The figures represented a slight dip from January despite an increase in prices. According to the latest update by CertiK, exit scams claimed the lion’s share at $58.2 million, followed by exploits at $101 million. Phishing accounted for $14.6 million, while $6.4 million was successfully recovered. Flash loans incurred minimal losses at $138k. Hong Kong-based...

CSOP Asset Management, a capital market firm in Hong Kong, disclosed in an interview with Reuters that its exchange-traded product, the CSOP Bitcoin Futures ETF (3066.HK), has witnessed a surge in assets under management (AUM) over the past five months. The ETF’s Assets Under Management (AUM) has soared five-fold to over $100 million. Rising Trading Volumes and AUM Regarding trading volumes, the CSOP Bitcoin Futures ETF has increased in average daily turnover, reaching $2.8...

Worrying developments at New York Community Bancorp (NYCB) have several Bitcoin investors anticipating a renewed U.S. banking crisis – which could bring money crashing back into the digital currency. The bank’s stock is down 41% over the past month, including a 28% plunge on Friday. Trading for $3.55 at writing time, it has now reached its lowest share price since 1996. What’s Happening at NYCB? NYCB had already suffered major losses in early February after disclosing that...