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 […]

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 […]

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 […]