Collapse crypto exchange FTX got the judicial green light to begin selling parts of its business, the next step in raising money to repay its more than one million creditors. LedgerX, Embed and ...
Tag: Deals
Head of $100 million venture studio Spartan Labs departs
The head of Singapore-based Spartan Group’s $100 million venture studio has quietly left after less than a year in the role. It remains unclear what motivated the departure. Shaun Heng, who was ...
Wyre lifts 90% customer withdrawal limit after securing new funding
Wyre secured a new source of funding, allowing it to drop its recently introduced 90% customer withdrawal cap, the company said on Twitter today. “We’re excited to share that today we received f...
Crypto players lament sputtering OTC trading as mistrust flourishes post-FTX
The crypto OTC market is sputtering, and that has otherwise high-spirited crypto enthusiasts bummed out. Amid a dramatic backdrop of snow-capped mountains in the Swiss Alps, crypto investors lam...
Alameda liquidators get liquidated on Aave as they try to consolidate funds
Alameda liquidators lost $72,000 on DeFi lending platform Aave after getting liquidated themselves while attempting to recover funds for creditors. The liquidators were trying to close the posit...
3AC’s Kyle Davies claims creditors ‘frustrated’ with bankruptcy process
Three Arrows Capital’s co-founder Kyle Davies claimed that the firm’s creditors are “frustrated” with the ongoing bankruptcy process. They complained about high costs, de...
Gemini CEO Winklevoss escalates DCG spat, demands removal of Silbert
Gemini CEO Cameron Winklevoss demanded the removal of Digital Currency Group CEO Barry Silbert in an open letter, escalating an ongoing spat over the frozen funds of the exchange’s Earn users. &...
Prosecutors investigate former FTX executive Nishad Singh: Bloomberg
Federal prosecutors are probing whether former FTX Director of Engineering Nishad Singh played any role in trading schemes that resulted in the illicit use of customers’ funds, Bloomberg first r...
BlockFi said CEO cashed out nearly $10 million as FTX loan stabilized clients
Bankrupt crypto lender BlockFi said its CEO cashed out close to $10 million from the platform to pay taxes last year as FTX provided about $15 million in payments to certain insider accounts as part o...
FTX businesses including LedgerX draw interest from over 100 potential buyers
Roughly 117 parties are interested in buying entities of the FTX, according to a new legal filing in the troubled crypto exchange’s bankruptcy case. The crypto giant filed for bankruptcy protec...
FTX fraud victims invited to come forward by US officials
The U.S. Attorney’s Office for the Southern District of New York invited victims of the FTX collapse to come forward on a website that went live earlier today. An email address through whi...
Mt. Gox first repayments pushed back to September
The timeline for Mt. Gox financial details registrations and repayments has been pushed back by two months. The first tranche of repayments from Mt. Gox has been moved to Sept. 30 from July 31, ...
The Block: Digital Currency Group to shutter wealth management unit: The Information
Barry Silbert’s Digital Currency Group is shuttering HQ Digital, a subsidiary focused on wealth management that it launched last year. DCG, parent of troubled crypto broker and lender Genesis Tr...
Nexo says Vauld CEO doesn’t have ‘best interest’ of creditors in mind
A dramatic tussle between rival crypto lenders Vauld and Nexo escalated on Thursday, with the two companies throwing barbs over a proposed acquisition. Shortly after The Block reported that Vaul...
Vauld rejects Nexo’s ‘final’ acquisition proposal, questions company’s solvency
Troubled crypto lender Vauld and its committee of creditors (COC) rejected rival Nexo’s “final” acquisition proposal due to concerns about Nexo’s financial health and others is...
Core Scientific will cut power to 37,000 Celsius miners: Bloomberg
Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. Bloomberg first reported the news. The agreement marks the ...
Crypto winter exacts new tolls as companies brace and restructure
Wyre and EmpireDAO are the two latest companies to fall victim to crypto winter. Founded nearly a decade ago, payment provider Wyre let a number of employees go, with two laid-off workers confir...
Southwest Faces Class Action Suit Over Holiday Meltdown — Here’s What Stranded Passengers Can Expect As Airline Deals With Fallout
Topline Southwest Airlines is facing a class action lawsuit from a passenger who claims the carrier did not refund his tickets for canceled flights during the company’s operational meltdown last month...
Binance.US deal with Voyager may fall under federal committee review
An agreement between Binance.US and bankrupt crypto lender Voyager Digital may be subject to review by the Committee on Foreign Investment in the United States (CFIUS), court filings showed. The...
Valkyrie wants to ‘manage and sponsor’ Grayscale’s GBTC
Valkyrie Investments said it has a proposal for Digital Currency Group’s struggling Grayscale Bitcoin Trust and that it’s ready to become a “sponsor and manager” of the fund. “...
Record Breaking Year For Sports Deals Sends Values Soaring For These Teams
Devin Booker of the Phoenix Suns high fives fans as he walks off the court. Even before the Ishbia brothers announced plans to pay a record sum for the Suns, the team had soared in value in 2022. Gett...
Argo Blockchain to sell Helios mining facility to Galaxy Digital
Bitcoin miner Argo Blockchain agreed to sell its Helios mining facility to Galaxy Digital for $65 million. The company has been trying to avoid bankruptcy as it struggles with cash flow issues ...
Target Offers Huge Post-Christmas ‘Clearance’ Deals
The days of Black Friday or post-Christmas day sales are, more or less, over. At a time of widespread inflation and tightening budgets, customers are increasingly waiting for a discount before buying...
Nexo terminates potential deal with troubled crypto lender Vauld
Crypto lender Nexo, which was in talks with rival crypto lender Vauld to potentially acquire it, has terminated the discussions. The potential deal has fallen through after six long months of di...
Crypto has the highest ‘talent density’ since the internet’s early days, says GSR CEO
Episode 128 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro and GSR CEO Jakob Palmstierna. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Pod...