Bitwise Bitcoin ETF to absorb $120M Osprey Bitcoin Trust
Subject to closing conditions, the agreement will see Bitwise’s Bitcoin ETF scoop up all the Bitcoin from the Osprey Bitcoin Trust. This post was originally published on this site
Bitwise Bitcoin ETF to absorb $120M Osprey Bitcoin Trust
Subject to closing conditions, the agreement will see Bitwise’s Bitcoin ETF scoop up all the Bitcoin from the Osprey Bitcoin Trust. This post was originally published on this site
Systemic Swiss Banks Not Ready for Crisis, Regulator Says
Switzerland’s financial regulator is not satisfied with the emergency plans of two of the Alpine nation’s five major banks. The assessment refers to a period prior to the rescue of Credit Suisse by UBS when the authority viewed the troubled giant’s preparedness in positive terms. 2 Swiss Banks Unable to Implement Recovery Plans, Finma Finds […]
Musk Mulls AI Startup to Rival Chatgpt Maker Openai, Report
Entrepreneur Elon Musk is preparing to launch a startup that will compete with Openai, the creator of Chatgpt, a media report unveiled. According to quoted knowledgeable sources, the owner of Twitter and Tesla is already assembling a team of developers and talking to investors. Elon Musk Reportedly Working to Establish Openai Rival, Registers X.AI Corp […]
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be […]
FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings
Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s […]
Bitcoin and Ether Are Not Securities in Belgium, Financial Regulator Clarifies
Cryptocurrencies like bitcoin and ether cannot be classified as securities or investment instruments, according to a communication issued by the financial watchdog in Belgium. The authority has tried to clarify the matter, noting that the digital coins may be subject to other regulations. FSMA: Securities Laws Do Not Apply to Bitcoin and Other Decentralized Cryptocurrencies […]
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 […]
Crypto Exchange Coinbase Slows Hiring Amid Market Downturn
Leading U.S. crypto exchange Coinbase is slowing hiring, citing the current down cycle in the market as a reason to rethink its staffing strategy. The company’s management believes the move will allow the trading platform to match its hiring needs with its business goals. Coinbase to Reassess Headcount Needs, Focus on Integrating Recent Hires Cryptocurrency […]
3 Members of Terraform Labs’ In-House Legal Team Abruptly Leave Amid LUNA, and UST Fallout
Three members of Terraform Labs’ legal team have left the company, according to their Linkedin profiles that show their departure from the firm this month. The resignation of the company’s in-house litigation, regulatory, general, and corporate counsel members follow the project’s fallout last week as the blockchain’s native crypto assets dropped significantly in value. Linkedin […]