Genesis Trading, the cryptocurrency brokerage and lender that halted customer withdrawals in the aftermath of FTX collapse, believes it can sort out its financial problems. However, it needs more time...
Tag: Clients
5 Wealth advisors offer money tips they’re sharing with their clients for 2023
2023 is right around the corner. And like every year, it promises to bring with it a wave of economic changes, both anticipated and unexpected. Wealth advisors are helping their clients prepare for th...
FTX clients indirectly funded Alameda Research through “electronics retailer” North Dimension
North Dimension, a company to which FTX directed customers to wire money, is reportedly a mysterious, fake electronics retail entity used as a proxy for funding Alameda Research. North Dimension puzzl...
Bain & Co Say Young, Affluent Clients Want This From Advisors
Most wealth management companies aren’t currently meeting millennials’ demands. As young investors grow their wealth, financial services firms gain a once-in-a-generation opportunity to sc...
CZ: Binance stores its clients’ assets in separate accounts from its own
It has been reported that the CEO of Binance, Changpeng Zhao, also known as “CZ,” has issued a personal email to retail customers assuring them of Binance’s future and financial stab...
OKX releases second proof-of-reserve report, assures clients of asset safety
OKX has released its second proof-of-reserve (POR) report. The exchange said it will be publishing reserve reports on the 22nd of every month for transparency reasons. OKX announced that they included...
Who Paid $250 M For SBF’s Bail? Is He Still Using Clients Funds?
SBF Bail News: After the release of Sam Bankman-Fried on Thursday on a $250 million bail bond, the crypto community is wondering about the turn of events. The collapse of FTX, Alameda Research and the...
Announcing Kraken Pro: The Secure Trading Platform for Advanced Clients
Institutional-grade performance with a modern, highly customizable user interface SAN FRANCISCO–(BUSINESS WIRE)–Kraken, one of the world’s longest standing and most trusted crypto platforms, is proud ...
Proof-of-Reserve Auditor Mazars Pauses Work for Crypto Clients
Mazars the auditing firm that worked with Binance and various other crypto exchanges including KuCoin and Crypto.com has paused all its business with their crypto clients according to an emailed state...
Auditing firm BDO could follow Mazars in abandoning crypto clients
BDO could become the latest auditing firm to halt or limit services to crypto companies, based on reports from the Wall Street Journal on Dec. 16. A report from the news publication quotes a BDO repre...
Accounting firm Mazars drops all crypto clients, including Binance and Crypto.com
French accounting firm Mazars is pausing all its work with crypto firms including, Crypto.com, KuCoin, and Binance, according to a spokesperson for Binance. Mazars has since deleted all crypto reports...
Audits firms Armanino, Mazars ditch crypto clients in wake of pushback
Audit firms Armanino and Mazars are set to drop their crypto clients following controversies and community pushback. Armanino, Mazars jump ship Auditors Armanino and Mazars count several high-profile ...
Binance Proof-of-Reserves Auditor Mazars Pauses All Work for Crypto Clients
Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, has paused all work for crypto clients, Binance said in an emailed statement. “Mazars h...
Binance and Crypto.com Auditor Mazars Group Pauzes Work with Crypto Clients
The company that audited both Binance and Crypto.com – Mazars group – will be pausing its work with cryptocurrency businesses. In a statement reported by Bloomberg, a spokesperson from Binance said: “...
Amber raises $300 million to laser focus on institutional clients
Amber Group has raised £300 million in a Series C funding round led by Fenbushi Capital US. Amid the carnage of collapsing crypto firms across the sector, Amber Group is looking to buck the trend with...
SEC charges Sam Bankman-Fried with defrauding the US clients
Sam Bankman-Fried, the former FTX CEO, has been charged by the U.S. Securities and Exchange Commission (SEC) with defrauding American clients and concealing the misappropriation of their assets. Sam B...
Bloomberg and Several Media Giants Move To Reveal Personal Information of FTX Clients in Bankruptcy Proceedings
A group of the world’s biggest media corporations is making a move to reveal the identities of those who lost money in the collapse of crypto exchange FTX. According to documents provided by Kroll, FT...
Crypto.com Releases Data to Assure Clients It Holds One-to-One Reserves
Digital asset exchange Crypto.com today released a proof of reserves study in support of its ability to cover client balances. In a Friday statement, the Singapore-based platform said it used interna...
Coinbase Advises Clients to Convert Tether (USDT) Into Circle’s USDC, Cites ‘Flight to Safety’
Top US-based crypto exchange platform Coinbase is issuing a warning to its customers, advising them to convert their Tether (USDT) stablecoin holdings into USD Coin (USDC). In a new company blog post,...
Near-bankrupt Genesis ‘is working’ to preserve clients’ assets
To strengthen liquidity, striving crypto exchange Genesis has announced ongoing work to preserve client assets. It might take weeks to come up with a plan. After locking up customers’ funds for about ...
Celsius Clients Now Moving for Further Bankruptcy Process
In a recent interview with CNBC on December 03, 2022, A former director at Celsius told that the company’s failure to match its assets and liabilities contributed to the hole in its balance sheet. The...
AAX clients storm exchange’s office in Lagos following operational halt
Nigerian customer’s of the crypto exchange AAX reportedly attacked the company’s office in Lagos and harassed its employees, in a response for the recent halt of withdrawals, according to ...
Genesis Owes Crypto Exchange Gemini Clients $900M
Crypto lender Genesis owes US-based crypto exchange Gemini customers $900 million, according to a December 3 Financial Times report. The report revealed that Gemini had formed a creditor committee to ...
Crypto lender Genesis allegedly owes $900M to Gemini’s clients: Report
Crypto lender Genesis and its parent company Digital Currency Group (DCG) allegedly owes $900 million to Gemini’s clients, according to a Financial Times report disclosed on Dec. 3 citing people...
Celsius’s deal with Prime Trust as fraudsters targets clients
If not understood by an extended bankruptcy, then there are court documents that tell us the whole story of the bankrupt crypto lender Celsius. A new flaw has been witnessed as the fraudsters imitati...
Will Clients Of Bankrupt Celsius Platform Get Their Funds Back?
Now bankrupt crypto lender Celsius, which managed assets worth around $12 billion earlier in the year, was forced into bankruptcy in July after crypto prices spiraled down, thus causing an industrywid...
Alameda Research Shouldered FTX Loss of Up to $1B Following Client’s Leveraged Trade in 2021: FT
Alameda Research bore the brunt of a $1 billion loss incurred by its affiliated firm FTX after a leveraged trade on the now-bankrupt crypto exchange backfired early last year, the Financial Times repo...
Morgan’s CEO: Developers and clients don’t like XRP and Cardano
The CEO of Morgan appeared on a YouTube channel hosted by Austin Arnold. He opinionated about XRP, Cardano, and FTX also. Austin Arnold, the host of a YouTube channel, Altcoin Daily interviewed Mark Y...
TP ICAP gets FCA approval to offer crypto services to institutional clients
Capital markets firm TP ICAP has received approval from the UK’s Financial Conduct Authority (FCA) to register as a cryptoasset exchange provider. TP ICAP’s new exchange, known as F...
Offering Clients a Better, Faster, and Cheaper Way to Transact Value Globally.
Unbanked is an SEC registered, US-based company founded in 2018 that connects DeFi and cryptocurrencies to banks, debit cards, and other legacy financial services. This sleek project is averse to bot...
Auditing Firms Elevate Crypto Clients to High Risk: Report
Sam Bankman-Fried has single-handedly managed to push prices higher for professional bookkeeping services in addition to incurring the wrath of global regulators. The collapse of FTX and the work that...
Klarna Creates New Platform to Connect Retail Clients with Influencers
The Creator Platform from Klarna takes a somewhat different model from its BNPL primary offering. Swedish financial technology company Klarna Bank AB has announced it has created a new platform where ...