Crypto lender Nexo has seen withdrawals worth more than $158 million in the last 24 hours after Bulgarian authorities raided its offices. Nexo had 133,263 BTC (around $2.5 billion) in customer l...
Tag: Finance firms
Cathie Wood’s Ark Invest adds another $2.5 million in Coinbase shares
Cathie Wood’s Ark Invest loaded up on more Coinbase shares Thursday, continuing this week’s spending spree as the stock rallies. Ark added 52,813 Coinbase shares to its Ark Innovati...
FTX gets judge’s approval to start selling LedgerX and other units
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 ...
Crypto.com cuts 20% of workforce amid sector-wide layoffs
Crypto.com, the Singapore-based crypto wallet and payments firm, is laying off 20% of its global workforce. The company announced the news in a blog post published today. Kris Marszalek, the fi...
Potential Coinsquare and WonderFi merger in advanced talks
Two of Canada’s largest exchanges, Coinsquare and WonderFi, are in advanced merger talks, BNN Bloomberg reported, citing sources. If the deal goes through, the merged company would become...
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...
MicroStrategy sells 13.5% stake to trading firm Group One
Trading firm Group One bought a 13.5% stake in MicroStrategy. The firm scooped up 1,261,744 shares of Class A common stock, according to a document filed with the U.S. Securities and Exchange Co...
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. &...
Ripple’s XRP leads CoinShares inflows in otherwise down week
Ripple’s XRP saw inflows at CoinShares in the first week of the year as investors fled bitcoin and ether. About $3 million was added in XRP, representing 9% of CoinShares’s assets un...
Bitcoin blasts through $17,000 amid wider market rally
Bitcoin blasted past $17,000 amid a wider market rally that sent crypto-related stocks and traditional markets higher. The biggest cryptocurrency increased 1.8% in the past 24 hours to $17,260...
Metropolitan Commercial Bank to close crypto vertical
Metropolitan Commercial Bank’s holding company will exit its crypto asset vertical, pointing to the shifting regulatory environment for banks involved in crypto, developments in the industry and busin...
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...
Genesis cuts 30% of staff in latest round of layoffs
Genesis Trading begun a new round round of layoffs, reducing its workforce by 30%, a source familiar with the matter told The Block. “As we continue to navigate unprecedented industry cha...
Coinbase shares drop 10% as Cowen downgrades stock and slashes price target
Coinbase shares fell shortly after the open as Cowen analysts downgraded the stock and cut their price target, citing dwindling retail volumes, lower revenue expectations and a harsh regulatory enviro...
Silvergate shares plunge as company cuts workforce amid ‘transformational shift’
Shares in crypto-friendly bank Silvergate plunged in early morning trading after the firm released preliminary fourth-quarter results and said it cut 40% of its staff amid a “crisis of confidenc...
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...
Gemini’s Winklevoss, DCG’s Silbert spar over frozen funds on Genesis
Gemini co-founder Cameron Winklevoss accused Digital Currency Group head Barry Silbert of “bad faith stall tactics” and comingling funds at his conglomerate in a pointed open letter posted...
Galaxy Digital pops day after Argo mining acquisition announcement
Galaxy Digital shares rose more than 13% a day after saying it would buy Argo Blockchain’s Helios mining facility. The company will pay $65 million for the facility and will also provide a...
From FTX to the Merge, 2022’s defining moments
2022 was defining for crypto, albeit not in a good way. Greed and exuberance took hold only to unravel in spectacular fashion. The year started with attention on the timing of The Merge, which b...
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...
Genesis and DCG creditor committee propose plan for asset recovery
Houlihan Lokey, an investment and financial services firm, presented a liquidity resolution plan on behalf of the creditor committee for the crypto broker Genesis and its parent company, DCG. Ge...
Coinbase, Silvergate reverse losses to rise alongside traditional markets
Crypto-related stocks are rising after days of losses, tracking traditional markets higher. Coinbase and Silvergate were up more than 3% at 10:40 a.m. ET, while Galaxy Digital added nearly 5%. ...
Auros bankruptcy protection filings show funds tied up on FTX
Market making firm Auros filed to begin bankruptcy proceedings in the British Virgin Islands, court documents show. A digital asset market maker and algorithmic trading platform, Auros maintaine...
Grayscale may return some capital to investors if GBTC’s ETF dreams fail: WSJ
Grayscale Investments will explore how to return up to 20% of its Grayscale Bitcoin Trust’s capital to shareholders if it cannot turn the product into an exchange-traded fund. A tender off...
Embattled crypto lender Amber Group raises $300 million
Singapore-based crypto lender Amber Group today announced a $300 million fundraise that comes amid layoffs and refocusing at the company. Amber said in a tweet that it had closed a Series C roun...