Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its d...
Tag: Citing
Feds Close Crypto-Focused Signature Bank Citing Systemic Risks
Signature Bank is the next bank to be closed by Federal regulators. Regulators closed the crypto-focused bank, citing systemic risk. The Federal Reserve has closed Signature Bank, as revealed in a pre...
Tesla Battery Supplier Beats Profit Estimates. It’s Citing Soaring EV Demand.
Tesla battery supplier Contemporary Amperex Technology, or CATL, beat annual earnings expectations Friday, strengthening its status as the world’s largest electric-vehicle battery maker. The Chinese l...
FTX sues Grayscale and DCG, citing mismanagement
Alameda Research Ltd, the FTX debtor, has filed a lawsuit against Grayscale Investment’s CEO and owners over firm mismanagement in part of the Trust agreement violation. The fallen crypto exchange pl...
FTX sues Grayscale and DCG, citing ‘exorbitant’ fees
Collapsed crypto exchange FTX filed a lawsuit against Grayscale Investment, citing mismanagement of the firm as evidence that it was in violation of Trust agreements. The FTX debtors also filed ...
Bybit halts USD bank transfers citing partner outages
Dubai-based crypto exchange Bybit has suspended United States dollar deposits via bank transfers in response to “service outages from a partner.” Funds can be withdrawn through wire transfers until Ma...
Bybit halts deposits via USD bank transfer, citing partner ‘service outages’
Crypto exchange Bybit stopped USD deposits via bank transfer, citing “service outages” from a partner. “Effective immediately, USD deposits via wire transfer (SWIFT) and wire ...
Analyst Sits On Fence While Initiating Calliditas Citing ‘Near-Term Opportunity But Longer-Term Questions’
Guggenheim initiated coverage on Calliditas Therapeutics AB (NASDAQ: CALT) with a Neutral rating and an $18 price target. The analyst is impressed with the data Tarpeyo has generated in Immunoglobulin...
Frax Ditches Algorithmic Backing, Citing Terra Failure
The community governance for stablecoin issuer Frax has voted to increase the collateral ratio for its stablecoin to 100%, removing the small algorithmic component which contributed to its value. Frax...
FTC Objects to Voyager Digital Restructuring Plan, Citing Ongoing Investigation
The Federal Trade Commission has objected to crypto broker Voyager Digital’s third attempt at a bankruptcy restructuring plan, saying it would unlawfully bar the company from being held accountable fo...
Motion filed to amend request to access Hinman speech citing error
The case between Ripple and the Securities Exchnage Commission (SEC) has turned its focus once again on the controversial Hinman speech documents over their unsealing. In this line, in a recent devel...
Galois Capital to Shutter Flagship Crypto Fund Citing ‘FTX Disaster’
Galois Capital announced it will shut down after losing a substantial portion of its capital following the collapse of Sam Bankman-Fried’s FTX, according to a Financial Times report citing co-founder ...
Composable Finance CTO exits citing ‘unethical management’
Composable Finance Chief Technology Officer Karel Kubat said he is leaving the company over a lack of transparency and what the now-former executive called “suspicious transactions.”“I, Karel Kubat, a...
XRP Ledger-based Crypto-to-Fiat Solution Halts Reward Programs Citing SEC Crackdown
XRPayNet chooses to err on the side of caution in the face of recent SEC enforcement action. XRPayNet, a crypto-to-fiat payment solution built on the XRP Ledger, has disclosed a decision to halt its s...
LocalBitcoins Shutters Services Citing Harsh Crypto Winter
The p2p Bitcoin exchange has given users 12 months to withdraw their assets. LocalBitcoins, a Bitcoin peer-to-peer (p2p) platform based in Finland, is shutting its doors after over a decade of serving...
DebtDAO To Burn 18M FTX User Debt Tokens Citing Demand Frenzy
Join Our Telegram channel to stay up to date on breaking news coverage DebtDAO has to burn 18 million FTX User Debt tokens, FUD, following a recent value surge that caused a demand frenzy. What: DebtD...
DeFi Protocol Everlend Announces Shut Down Citing Liquidity Shortage
10 hours ago | 2 mins read Defi News Everlend has changed its app to a withdrawal-only mode. The protocol’s codebase was also made public. Everlend, a DeFi borrowing and lending platform based on Sola...
Solana DeFi lender Everlend Finance shuts down its app citing liquidity crunch
Solana-based DeFi lending protocol Everlend Finance has shut down its app platform, despite having sufficient runway to continue operating in the current business environment, the team said on Feb. 1....
Rally Shuts Down NFT Sidechain, Citing ‘Macro Headwinds’
The Rally social platform has shut down its Ethereum NFT sidechain. The team cited the tough market conditions as the reason for the decision. The Rally platform is drawing flak for its decision to te...
3M To Ax 2,500 Manufacturing Jobs Citing Turbulent Macroeconomic Forces
Education Images/Universal Images Group via Getty Images Key takeaways 3M announced poor Q4 results and a weak outlook for 2023 As part of the announcement, 3M announced a layoff of 2,500 workers, mos...
Crypto tax unicorn CoinTracker lays off 19 employees, citing industry gloom, ‘over-hiring’
Crypto tax unicorn CoinTracker laid off about a fifth of its staff due to market conditions. A total of 19 employees were let go from the San Francisco-headquartered crypto tax company as its le...
FTX Lawyers Object to the Formation of an Independent Examiner Citing Unwarranted Cost
The FTX bankruptcy case has attracted the attention of U.S. lawmakers, several states, and regulatory agencies. In the latest update, FTX debtors, the creditors committee, and the Bahamas Team (JPL) f...
Binance Reportedly Eliminates DCG’s TWAP Trades Citing Legal Risks
The world’s largest crypto exchange Binance has reportedly eliminated Barry Silbert’s Digital Currency Group’s (DCG) ability to make time-weighted average price (TWAP) trades. The potential reasons be...
Gemini Announces 10% Layoff Citing Negative Macroeconomic Conditions
In August 2022 Gemini had reduced its workforce by 7% and 10% in July. the SEC claims that securities were offered and sold without being registered. A representative for Gemini, a cryptocurrency exch...
EU Delays Crypto Regulation Citing Translation Issues
Considering the recent FTX collapse that triggered higher volatility in the crypto market, the world’s jurisdictions are revamping their crypto regulation framework. The EU remains at the end of the r...
Top crypto firm suspends investor dividends citing liquidity distress – Cryptopolitan
Multiple crypto firms are still contending with tight liquidity despite the market recovery to the $1 trillion mark. The 2022 crypto winter and industry shortcomings forced many firms to limit expense...
Coinbase Shuts Operation In Japan Citing Market Conditions
The cryptocurrency market, regardless of the ongoing “mini bull run,” is still a long way from its 2021 levels, with companies laying off staff and some even closing operations. The latest on the list...
Coinbase halts operations in Japan citing ‘market conditions’
Crypto exchange Coinbase has paused its business in Japan and has advised customers to withdraw their assets from the platform, the company announced on Wednesday. Coinbase blamed the current ma...
DOJ Objects to FTX’s Choice of Lawyers, Citing Conflict of Interest
“S&C’s disclosures as filed are wholly insufficient to evaluate whether S&C satisfies the Bankruptcy Code’s conflict-free and disinterestedness standards,” said Trustee Andrew Vara, a Departme...
World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’ – Economics Bitcoin News
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 ...
Swyftx Closes Earn Program Citing Lack of Regulatory Clarity; Are customer funds safe?
Earn allows users to earn interest on their funds held on their Swyftx wallets. The exchange might have suggested that the move might be temporary. Swiyftx announced the move in December Australian cr...
Apple’s stock surges again after Goldman says to buy, citing nearly 30% upside potential
Shares of Apple Inc. surged toward a third straight gain Monday after Goldman Sachs analyst Michael Ng urged investors to buy, as a growing installed base of users, which encourages repeat purchases, ...