LayerZero co-founder and CEO Bryan Pellegrino accused Kyle Davies, co-founder of the now-defunct Three Arrows Capital (3AC), of trying to persuade his firm to transfer its entire treasury shortly before the liquidation of 3AC on March 21. Pellegrino made the allegation in an X post as a response to Davies’ comment on a podcast. Pellegrino...
Set to be sentenced next week, disgraced FTX founder Sam Bankman-Fried is facing charges that carry a total maximum penalty of over 100 years in prison – but what sentence will he actually get? In the defense’s sentencing recommendation released late last month, Bankman-Fried’s camp pushed for a maximum prison sentence of just over six...
The South Korean exchange Bithumb is looking to step up its IPO plans – and could look to launch a fast-tracked initial public offering as the crypto bull market continues. Per Hanguk Kyungjae, Bithumb is looking to “accelerate” its proposed KOSPI listing. Bithumb IPO: Exchange Takes Decisive Steps The media outlet reported that Bithumb announced...
The Russian Ministry of Finance says it wants to settle its long-standing crypto policy differences with the nation’s Central Bank. According to the media outlet RBC, Finance Minister Anton Siluanov said he was “sure” his ministry and the bank would soon “come to an agreement” on crypto regulation-related matters. Russian Central Bank Eager to Break...
Bitcoin spot exchange-traded funds (ETFs) in the United States have witnessed a three-day streak of net outflows, with a total of $261.5 million leaving the ten approved funds on March 20. This brings the cumulative net outflows over the three days to $742 million, as data from Farside Investors indicates. On March 18 and 19, net...
Marathon Digital Holdings CEO Fred Thiel warned that smaller miners will face financial strain following the Bitcoin halving event in April. In a CNBC interview published Friday, Thiel highlighted the disparity in access to capital and equipment financing between smaller and larger miners in the current mining market cycle. He noted that while larger miners...
The Grayscale Bitcoin Trust’s (GBTC) exchange-traded fund (ETF) experienced another day of significant outflows, with nearly $359 million exiting the fund on March 21. This follows a week of substantial outflows, with March 18 witnessing the largest single-day outflow of $642 million, according to data from Farside Investors. The latest figures bring the total outflows...
An industry expert, on Sunday, has ‘debunked’ claims that the European Union has banned anonymous crypto wallets and transactions. On Saturday, reports spread across the industry, claiming that the EU’s recent anti-money laundering (AML) law specifically targets banning anonymous crypto accounts. However, industry expert Patrick Hansen addressed these claims, clarifying that the law does not...
2024 began with over 9,000 cryptocurrencies created and still available globally, according to Statista. This is 13% fewer projects ‘alive’ compared to the all-time high reached in February 2022. That said, between February 2023 and January 2024, there was a 4% increase in the number of available projects. The road to the current volume was...
CommEx, the exchange that took over Binance’s operations in Russia in September 2023, has announced it is closing down and has stopped accepting deposits. While the exchange has refrained from stating the motives behind this decision, it has outlined that it will wind down all operations before May 10, 2024. CommEx Announces Suspension of Trading...