Tag Archives: AA News

The Securities Commission of The Bahamas (SCB) has refuted the claims made by FTX debtors that it had instructed the crypto exchange to mint tokens worth hundreds of millions. In an official statement released on Jan. 3, the regulator sought to correct the material misstatements of FTX’s new CEO, John J. Ray III, in a series of court filings that received global media coverage. SCB Allegedly Asked SBF to Mint New Tokens Last month, FTX lawyers made several public statements...

Three Arrows Capital (3AC), a Singapore-based crypto hedge fund, became one of the many industry participants that went bankrupt in the bear market. At its peak, 3AC managed more than $10 billion worth of assets. Its undoing was disastrous but wasn’t purely a market-driven phenomenon. In the latest Twitter thread, Zhu Su said the parent firm of Grayscale Investments and Genesis Trading conspired with FTX to bring down Terra’s LUNA token and Staked Ether (stETH). Zhu Su Blasts...

The Dogecoin Foundation – a nonprofit organization that supports the development of the first-ever memecoin – announced a new 5,000,000 DOGE development fund. The capital will be distributed to developers who contribute to the advancement of the token’s ecosystem. The entity also revealed that Marshall Hayner (one of the fund’s custodians) joined the Dogecoin Foundation Board of Directors.  Stimulus for Developers The organization vowed to move five million DOGE (worth around...

The 2022 crypto winter got colder and darker in November when one of the biggest and most prominent crypto exchanges, FTX, imploded. The company, which had bailed out several crypto firms during the Terra-induced crash in May 2022, ended up filing for bankruptcy. While FTX’s founder, Sam Bankman-Fried (SBF), and other executives are currently facing multiple lawsuits for fraud, fresh reports have surfaced alleging that the FTX-linked crypto trading firm, Alameda Research, was...

Stablecoins have continued to play a very critical role in the crypto economy. The ongoing bear market also demonstrated that dollar-pegged coins like USDT and USDC witnessed a parabolic growth in market cap this year. However, top stablecoin issuers seemingly took a break from printing in December amidst a great deal of market turmoil and increased scrutiny. According to data from the ‘Stablecoin Printer,’ USDT, USDC, BUSD, and TUSD, have not been printed during the last...

In an open letter to Barry Silbert, Gemini co-founder Cameron Winklevoss said that Digital Currency Group owes Genesis approximately $1.675 billion. Cameron Winklevoss shared an open letter to Barry Silbert – the founder of Digital Currency Group – on Twitter. On behalf of many people, he argued that Genesis – a subsidiary of DCG – owes $900 million to them. Winklevoss argued that the two companies are “beyond commingled.” Furthermore, he alleged that: To be clear, this mess...

Although the disgraced founder of both FTX and Alameda Research is currently on bail under strict rules, there were multiple suspicious transfers of crypto assets from wallets linked to him or his former empire. Despite refuting any connections, Bloomberg reported that the US authorities plan to investigate the matter. CryptoPotato reported at the end of last week when several Alameda wallets (marked as such on Etherscan) started moving ERC-20 tokens and bridging them to BTC....

Robert Kiyosaki believes the US regulators will go hard against most alternative coins once they are classified as securities. As such, the author of several best-seller books continues to invest only in bitcoin, which the CFTC and even the SEC have said is a commodity. Kiyosaki on BTC and Altcoins The 75-years old US entrepreneur, author, and investor changed his tune on the primary cryptocurrency during the COVID-19-induced crisis, saying the asset had proven itself in...

Crypto traders are converting worthless NFTs into tax breaks. They’re using a service started just for that purpose. Others are taking advantage of IRS tax loopholes for tax breaks on their losses from BTC, ETH, and others this year. That’s how bad the crypto winter is getting as the frost sets into planet earth’s northern hemisphere. But in a sign of persistence and entrepreneurial spirit, crypto markets are reacting. NFT buyers are now helping people with their underwater...

Cryptocurrency firms struggled greatly in 2022, with multiple companies facing financial issues and bankruptcy. In addition to these challenges, over $3 billion was stolen from crypto projects this year, according to Forbes. These setbacks have caused turmoil in the industry and raised concerns about its stability. According to the report, crypto projects witnessed more than 125 hacks, and the top five heists (all involving decentralized finance (DeFi) protocols) accounted...