The U.S. Trustee has asked a Delaware bankruptcy court to appoint an examiner in the ongoing FTX bankruptcy case. In a Dec. 1 court filing, the U.S. Trustee cited a “virtually unprecedente...
Tag: Companies
Sam Bankman-Fried’s still sorry, but now he says his memory isn’t great
Former FTX CEO Sam Bankman-Fried regrets how he mishandled his troubled crypto exchange, but he doesn’t quite remember all the details. The disgraced crypto mogul spoke for almost two hours abou...
Bitcoin mining revenues fell 20% in November
Bitcoin mining revenues fell 19.9% in November to about $472.64 million, according to data compiled by The Block Research. The cryptocurrency’s price, which had been hanging around the $19...
The Block: Bitcoin mining stock report: Thursday, December 1
Bitcoin mining stocks tracked by The Block showed mixed results, with about half trading up and the other half down. Bitcoin was trading at around $16,900 by market close, according to data from...
Apple disables version of Coinbase Wallet over NFT gas fees
Apple blocked the latest version of Coinbase Wallet until a feature that allows users to send NFTs over iOS is disabled, according to the exchange. “Apple’s claim is that the gas fees required t...
SBF was ‘delusional’ in interview, says Galaxy’s Mike Novogratz
Galaxy’s CEO Mike Novogratz thinks Sam Bankman-Fried is “delusional” and will spend time in jail. After watching the former FTX CEO’s live interview with the New York Tim...
‘I wasn’t even trying to do risk management,’ Sam Bankman-Fried tells ABC
Sam Bankman-Fried claimed that he didn’t spend time doing any risk management at FTX in yet another interview following the exchange’s collapse. The now disgraced FTX co-founder stru...
Decentralized crypto exchange volumes nearly double in November amid FTX debacle
Cryptocurrency exchange volumes jumped in November from the previous month as the collapse of FTX roiled markets, with decentralized platforms seeing an increase of 93%. Centralized (CEX) exchan...
Crypto Mining Companies Really Have It Hard
The crypto mining sector is falling apart, and miners are being hit from all angles at the time of writing. Crypto Mining Is Beginning to Crash and Burn To be fair, the prices of many mainstream digit...
Cyvers raises $8 million to bring security solutions to web3 companies
Israel-based cybersecurity startup Cyvers raised $8 million in a seed round led by Elron Ventures. Other backers include Crescendo Venture Partners, Differential Ventures and HDI. Cyvers offers...
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...
CEO of $10 Trillion Asset Manager Predicts That Most Crypto Companies Will Fail
Alex Dovbnya BlackRock CEO Larry Fink has predicted that the majority of existing cryptocurrency companies will fail BlackRock CEO Larry Fink has predicted that the majority of cryptocurrency companie...
Polygon: Why Web2 companies may be the secret to the NFT segment growth
Polygon registered the strongest NFT sales growth in October Web2 companies could be the reason that NFTs worth less than $1,000 are gaining popularity Messari released a report highlighting how some...
Coinbase shuffles APAC leadership, appoints new regional policy lead
Crypto exchange operator Coinbase today announced leadership changes in its Asia-Pacific team. The San Francisco-based company said in a blog post that John O’Loghlen, who joined as country dire...
The Block: Bitcoin mining stock report: Wednesday, November 30
Most bitcoin mining stocks tracked by The Block rose alongside Bitcoin, which returned to the $17,000 level by market close, roughly a 3.6% increase from yesterday, according to data from TradingView....
Sam Bankman-Fried tries to defend FTX collapse, apologizes (again)
Sam Bankman-Fried just wrapped up an interview with Andrew Ross Sorkin at the New York Times DealBook Summit. The Block tuned in and kept a running tally of what he had to say. Thanks for sticking wit...
SCB 10X opens new web3 collaborative space in Bangkok: Exclusive
SCB 10X — the venture unit within Thailand’s oldest bank group, Siam Commercial Bank (SCB) group — opened a a 10,000-square-foot web3 collaborative space in Bangkok. Called DistrictX, the ...
BlackRock Chief Executive Fink said firm invested $24 million in FTX
BlackRock Chief Executive Larry Fink said that the firm invested $24 million in FTX through a fund of funds it manages, according to Reuters. He also said that there were some misbehaviors at th...
Venture Capitalist Draper tells Miami web3 crowd to ‘Keep your heads down, keep working’
Tim Draper, founding partner of VC firm Draper Associates, sounded an optimistic tone at a Wednesday conference in Miami despite ongoing turmoil across crypto markets and his prediction of a looming r...
Kraken cuts 30% of staff to ‘weather crypto winter’
Kraken’s the latest crypto firm to announce mass layoffs. “We’re reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market condi...
FTX CEO stresses Bankman-Fried, Ellison no longer involved in operations
FTX CEO John Ray stressed in a company all-hands this week that the firm has not been communicating or “dealing with” former senior executives, including its co-founder Sam Bankman-Fried. ...
Ether storage coming to Casa as centralized exchanges lose their luster
Crypto firm Casa will offer customers the ability to store ether, with its CEO referencing the FTX collapse as a reason for its appeal. “A lot of people learned the hard lesson of why holding yo...
How the crypto hiring landscape is responding to industry layoffs
Episode 119 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro, and Rob Paone, Founder and CEO of Proof of Talent. Listen below, and subscribe to The Scoop on Apple...
FTX’s LedgerX to free up $175 million for use in bankruptcy proceedings: Bloomberg
LedgerX, FTX Group’s solvent subsidiary that also had to file for bankruptcy protection as part of the group, will make available $175 million for use in bankruptcy proceedings, Bloomberg report...
Crypto bank Seba opens office in Hong Kong, as the city aims to reclaim crypto hub status
Switzerland-headquartered Seba Bank expanded into Hong Kong with a new office as the Chinese region attempts to reclaim its status as a crypto hub. The Hong Kong office will be a center for Seba...
Prosecutors seek arrest warrant for Terraform Labs’ co-founder Daniel Shin: Yonhap
Prosecutors in South Korea are reportedly seeking an arrest warrant for Terraform Labs co-founder Daniel Shin. The Seoul Southern District Prosecutors Office said Wednesday that it is seeking th...
Brazil’s long-awaited crypto bill inches to the finish line after seven years
After a series of legislative twists and turns spanning seven years, Brazil’s long-awaited crypto bill could finally reach the president’s desk. Brazil’s Chamber of Deputies vo...
Genesis creditors organize in bid to forestall bankruptcy move: Bloomberg
Crypto firm Genesis Global Capital warned last week about a possible bankruptcy filing, and now some of its creditors are pursuing options in order to prevent such a move. Law firms Proskauer Ro...
Bitso cuts more staff in fresh round of layoffs
Mexico-based crypto exchange Bitso has let go of an unspecified number of workers in a fresh round of layoffs, about six months after cutting about 80 employees. “Bitso made the difficult ...
Maersk, IBM shutting down blockchain-enabled supply chain project
Danish shipping company Maersk and IBM are withdrawing their blockchain-enabled supply chain offering, TradeLens, and discontinuing the platform. TradeLens was founded on the “bold vision ...
FTSE Russell to introduce 8 new digital asset indexes
Data and analytics firm FTSE Russell, which is owned by the London Stock Exchange Group, is rolling out a market cap index series covering the investable digital asset market. It includes eight ...