Summary: Three Arrows Capital bosses are on their way to Dubai as 3AC liquidation proceeds. Su Zhu told Bloomberg that he and Davies have received death threats and prefer to keep a low profile for now. The founder also tagged recent events surrounding the crypto hedge fund as regrettable and...
BlockFi released its transparency report for Q2 2022. The platform had $1.8 billion in outstanding loans in Q2. The company is taking a number of measures to manage liquidity risks. BlockFi has released its transparency report for Q2 2022, and it gives a good picture of how the market crash...
South Korean authorities have raided the home of Terraform Labs co-founder Daniel Shin. Officials also recently sent prosecutors and investigators to seven cryptocurrency exchanges in connection with the case. The Terraform Labs investigation is ramping up, but it is far from over. South Korean officials have taken another step forward...
Summary: Coinbase has filed a petition requesting the Securities and Exchange Commission to start rulemaking on digital asset securities. Coinbase states that existing rules for traditional securities do not work for digital assets. The exchange requests the SEC to develop a workable regulatory framework guided by formal procedures and public...
Summary: The SEC has gone after a former Coinbase employee accused of insider trading, filing a complaint against him, his brother, and his friend with the US District Court Western District of Washington, Seattle. The complaint describes digital tokens as being crypto asset securities. Nine tokens mentioned in the complaint...
Senator Lummis made the remarks at the Bloomberg Crypto Summit. The crypto bill will have to be reviewed by multiple Senate committees. In any case, the U.S. is rapidly accelerating its crypto regulation efforts. Wyoming Senator Cynthia Lummis, speaking at the Bloomberg Crypto Summit held on July 19, said that...
Creditors participated in a liquidator meeting on July 18. One attendee posted information from the meeting, saying that the claims were as much as $2.8 billion. The claims may very well increase, as some have not yet made or quantified their claims. More news is coming out regarding the liquidation...
Celsius’s debut bankruptcy hearing introduces alternatives for users to retrieve their funds back. The firm plans to make use of Bitcoin mining operations and third-party asset sales to accumulate funds and pay back its debt. After halting its withdrawals and filing for chapter 11 bankruptcy, Celsius Network has finally introduced...
Coinbase has received approval from Italian authorities to continue operations. The exchange has been keen on meeting regulatory requirements in different jurisdictions. Other exchanges are also focused on meeting the requirements of lawmakers to avoid losing out on lucrative markets. Coinbase has won a battle in its bid to go...
Summary: Three Arrows Capital liquidators have a meeting set for July 18, 2022. This is the first time 3AC creditors are scheduled to meet and discuss proceedings. Teneo Restructuring will lead the meeting as the appointed liquidator by a British Virgin Islands court. Legal advisory firm Ogier also participates in...
Summary: President Vladimir Putin has signed into law a new bill banning the use of Bitcoin and cryptocurrencies as a form of payment within Russia. Crypto service providers must now reject any transactions that can potentially lead to using digital assets to substitute the Russian ruble as a payment instrument....
