Silicon Valley Bank has been shut down by the California Department of Financial Protection and Innovation due to inadequate liquidity and insolvency. The bank's shares were halted earlier today after a 66% slump in premarket trading.
FTX's bankruptcy lawyers are negotiating to recover $400 million from an account at JPMorgan. The funds were used by Sam Bankman-Fried to invest in crypto hedge fund Modulo Capital last year.
BUSD issuer Paxos has categorically disagreed with the allegations by the SEC. The firm's press release indicated vigorous litigation in this matter if necessary.
Leading CeFi platform Celsius Network halts its withdrawals, swaps, and transfers citing extreme market conditions The native token of Celsius Network has crashed 50% and is currently sitting at $0.1855 Celsius Network, one of the leading crypto lenders of the DeFi sector, has decided to halt withdrawals, swaps, and transfers...
Summary: Voyager Digital was granted court approval allowing the defunct crypto broker to sell off some of its assets. The deal was previously halted by an SEC inquiry. Binance US will splash a whopping $1 billion as payment to Voyager, per previous reports. The deal is still subject to a...
Binance has ceased the off-chain fund transfer channel between itself and WazirX On-chain transfers will still be available for the users to deposit and withdraw. Leading cryptocurrency exchange Binance has recently decided to remove the off-chain fund transfer channel between itself and the Indian exchange WazirX. Binance Suspends Off-Chain Transfer...
The Sui Foundation has terminated its relationship with the decentralized exchange MovEx over the latter's violation of the SUI token's lockup schedule.
Germany Skeptical of Libra & Crypto Many in the crypto community were shocked in June when Facebook unveiled the firms backing Libra — Visa, Mastercard, PayPal, Uber, Spotify, Coinbase, Xapo, and countless other pro-innovation companies and investors. With so many prominent partners, isn’t it guaranteed that the cryptocurrency will succeed?...
Paxos CEO Charles Cascarilla told his employees that the firm was in constructive discussions with the U.S SEC over its Wells notice and the security status of BUSD.
Summary: FTX attorneys argued that Turkish authorities would not work closely with U.S. courts and bankruptcy proceedings. Judge John T. Dorsey agreed with the fallen crypto exchange and ruled to exclude SBF’s Turkish division from the case. The judge made a second ruling approving the sale of some assets to...
