Tag Archives: AA News

Coinbase CEO Brian Armstrong quelled concerns about the state of his company’s Bitcoin holdings on Tuesday, following doubtful suggestions from rival exchange owner Changpeng Zhao (CZ).  Binance’s CEO has since deleted his tweet, promising to “work together to improve transparency in the industry.” What Did CZ Say? CZ’s now-removed post called attention to two separate claims about the exact number of Bitcoin held by Coinbase.  The first was a statement from Coinbase Custody...

FTX, its former chief Sam Bankman-Fried’s parents, as well as senior executives of the fallen crypto exchange, purchased at least 19 properties worth almost $121 million in the Bahamas, according to new reports. Official property records verified by Reuters reveal that FTX bought luxury beachfront homes, including seven condominiums in a penthouse in a luxury resort called Albany, over the past two years. The total cost was almost $72 million. The properties’ deeds show that...

The American senators – Elizabeth Warren, Tina Smith, and Richard Durbin – advised Fidelity Investments to reconsider its decision to allow investors to add bitcoin to their retirement 401(k) plans. One of the largest mutual fund companies in the US has heavily engaged in the crypto sector in the past few years. It recently considered providing bitcoin trading services to individual investors on its brokerage platform. A Renewed Warning After FTX’s Fiasco Fidelity Investments...

Cryptocurrency entrepreneur and billionaire Justin Sun is reportedly evaluating FTX’s assets for potential purchase. As reported by the Wall Street Journal, Sun said on Tuesday that he is open to “any kind of deal,” with the exchange, and that “all options” are on the table. “Right now we are evaluating assets one by one, but as far as I understand the process is going to be long since they are already in this kind of bankruptcy procedure,” he added.  FTX closed its first...

Iris Energy – an Australian crypto mining company whose main purview is the operation of BTC mining sites in Canada running on renewable energy exclusively – has recently ceased mining in two subsidiaries. Nevertheless, the firm still maintains that its business continues to be profitable. Immediate Repayment of Loan Demanded The subsidiaries operating as Special Purpose Vehicles (SPVs) used Bitmain mining rigs financed by a $107.8 million loan from the New York Digital...

As bad news regarding FTX’s bankruptcy keep appearing in crypto (and mainstream) media, investors have rushed to bet against bitcoin and the crypto market, with bear positions hitting two-year highs. According to the “Digital Asset Fund Flows Weekly Report” from European cryptocurrency investment firm CoinShares, a bearish sentiment took hold of the crypto market during the last week to such an extent that short positions accounted for 75% of all trades in the market. This...

Despite the ultimate crash of FTX, the Japanese subsidiary of the company reportedly plans to allow client withdrawals by the year’s end. The fiasco of Sam Bankman-Fried’s exchange became one of the major events in crypto’s history. Once valued at approximately $32 billion, it recently failed to honor users’ withdrawal requests and reported severe liquidity issues. FTX filed for bankruptcy a few days later to “develop a process to maximize recoveries.” FTX Japan With a...

Genesis, the crypto brokerage platform that froze withdrawals last week, may resort to bankruptcy if it fails to raise money from potential investors, according to people familiar with the matter. As reported by BNN Bloomberg, Genesis has spent the past several days attempting to raise $1 billion in capital from potential investors. This backs up a Wall Street Journal report from Friday, which claimed the trading firm was unsuccessful in its endeavor.  Bloomberg stated that...

On November 21, U.S. Patent and Trademark Attorney Michael Kondoudis announced that JP Morgan & Chase Co, the largest bank in the United States— and one of the largest financial companies in the world— registered a patent to venture into the Web3 with a digital crypto wallet. According to Kondoudis, the U.S. Patent and Trademark Office (USPTO) approved the application by JP Morgan & Chase Co.on November 15. The wallet will offer services like virtual currency transfer...

Shares for Coinbase, America’s largest cryptocurrency exchange, are trading at another all-time low as Bitcoin and the crypto market log some of the lowest digital asset prices in over two years. COIN stock fell 8.9% on Monday, from $44 at 14:20 UDT to $41.23 when the day closed.  The current price is down 37% over the past month, and 87% from its all-time high of $342 in November of last year.  Meanwhile, Coinbase 2028 bonds are trading for only $0.51 on the dollar,...