Tag Archives: AA News

ConsenSys – a blockchain software technology company – and Amber Group – a cryptocurrency platform based in Singapore – are the latest entities in the digital asset sector to announce staff layoffs.  The former will trim its team by approximately 11%, while the latter reportedly plans to reduce its Hong Kong division by 50%. Adjusting to ‘Uncertain Market Conditions’ Joseph Lubin – CEO of ConsenSys – said his organization made the “extremely difficult decision” to lay off 96...

Bitcoin’s weekly surge beyond $20,000 doesn’t necessarily mean the bull market is back, according to BitMEX co-founder Arthur Hayes’ latest analysis.  The former CEO recently detailed some possible scenarios that will trigger Bitcoin’s next big move – which mostly boils down to how the Federal Reserve behaves in the near term.  Analyzing the Bitcoin Bounce In a medium post titled “Bouncy Castle” published on Thursday, Hayes began by positing two theories about what is...

Multi-chain crypto wallet BitKeep revealed that it will launch the compensation portal in the first week of February, and 50% of the funds are expected to be returned to users by the end of the same month. The remaining funds will be distributed by the end of March. To avoid fluctuation, the asset valuation of the compensation will be converted to USDT stablecoin. In a series of tweets, BitKeep said that its technical team, as well as security agencies, devised a closed-loop...

The acting Chief Executive Officer of FTX, John J. Ray III, who is in charge of making sure that the creditors of the bankrupt exchange receive as much compensation as possible, said that the platform might restart. In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange is on the table. Everything is on the table. If there is a path forward on that, then we will not only explore that, we will do it. FTX filed for Bankruptcy back in...

After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT. In a statement, OKX’s Chief Marketing Officer Haider Rafique said, “Security, transparency, and trust are core tenets of the OKX business process...

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Kevin O’Leary – a popular Canadian investor and host of the TV show Shark Tank – believes the unregulated cryptocurrency environment will cause the collapse of other companies. However, he remains a proponent of the industry, admitting that he invested 5% of his wealth in bitcoin. Future Trouble Seems Inevitable In a recent interview for Kitco News, O’Leary forecasted that the FTX demise will certainly not be the last such event in the cryptocurrency space. He claimed some of...

Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice. In an email to shareholders, as viewed by Bloomberg, the crypto investment firm said it is currently focused on “reducing operating expenses and preserving liquidity” in response to the current market environment. Troubles for DCG The FTX collapse exposed significant irregularities in Barry Silbert’s empire, with DCG at the receiving end of intense...

Genesis Global Capital is preparing to finally file for bankruptcy after FTX’s collapse blew a hole through the company’s financials, according to people familiar with the matter.  The bankruptcy may be filed as soon as this week. Per a report from Bloomberg on Wednesday, talks over the bankruptcy are still ongoing, and plans could change.  Shortly after FTX’s collapse, Genesis indicated that it may need to file for bankruptcy if it didn’t receive fresh funding. Its...

FTX’s former CEO, Sam Bankman-Fried, has reiterated claims that FTX US is solvent following FTX debtors’ latest statements to the contrary.  According to Bankman-Fried, the group failed to account for customers’ bank balances, which bring the US entity’s assets well above its liabilities to customers.  Clearing the Air on FTX US In a substack post on Wednesday, Bankman-Fried said that certain statements on Tuesday from Sullivan and Cromwell (S&C; one of the law firms...