Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail […]
BlockFi sues FTX’s Bankman-Fried over shares in Robinhood
BlockFi is demanding Bankman-Fried’s investment company turn over its shares in Robinhood as collateral it agreed to pay as part of a pledge agreement.This post was originally published on this site
Nexo ‘surprised’ by state regulators’ actions, says co-founder
Kalin Metodiev emphasized that Nexo has been navigating through conversations with regulators for the past couple of years to ensure compliance, and was surprised that this news was “thrown out there in public.”This post was originally published on this site
Thailand’s SEC Bans Crypto Lending Services
The Thailand Securities and Exchange Commission (SEC) has banned crypto operators from providing or supporting deposit-taking and lending services. According to a press release by the SEC, the resolution against offering staking and lending services was approved as a means “to protect traders and the general public from the risks of such transaction providers.” Struggling Crypto […]
Celsius Network is bankrupt, so why is CEL price up 4,000% in two months?
Takeover rumors and an ongoing short squeeze help CEL price rally but is there enough momentum for more upside?This post was originally published on this site
California regulator investigating crypto interest accounts
The regulator also said, in its view, that certain crypto interest account providers were providing unregistered securities, such as BlockFi and Voyager.This post was originally published on this site
Crypto Lender Nexo Moves Forward With Plan to Acquire Troubled Rival Vauld
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other […]
Celsius seeks help from Citigroup and reportedly hires restructuring attorneys
Wall Street Journal reported yesterday that the network is seeking to restructure to survive the financial crisis it is caught in At the start of this week, Celsius announced that it was temporarily halting withdrawal services on its platform Crypto lender, Celsius, has sought the services of ‘restructuring’ attorneys from the international law firm Akin Gump […]
Crypto lender Celsius freezes withdrawals; rival Nexo offers a ‘helping hand’
Celsius halted withdrawals on Monday, noting that said the process back to normalcy could see delays Fellow crypto lending Nexo tabled an offer to ‘bail’ Celsius by taking up its qualifying assets Crypto lending platform Celsius is seeing the worst of the crypto markets and, in effect, announced on Monday morning that it paused redemptions […]
Crypto Lending Company Blockfi Cuts Staff by 20%
On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to […]