Following BlockFi’s Chapter 11 bankruptcy filing at the United States Bankruptcy Court for the District of New Jersey, reports have surfaced about the crypto lending company’s risk assessment and management culture.  According to Forbes, as early as 2020, the company culture discouraged employees from “describing risks in written internal communications […]

Two members of the United States Senate have called on the heads of federal financial regulators to address “ties between the banking industry and cryptocurrency firms” in the wake of FTX’s collapse. In letters dated Dec. 7 to Federal Reserve chair Jerome Powell, acting Comptroller of the Currency Michael Hsu, […]

Binance.US says it has immediately eliminated trading fees for Ethereum (ETH). The exchange had previously cancelled the policy of charging fees on Bitcoin (BTC) as it pushed to become the leading platform in the industry. Binance.US is eyeing expansion outside of the U.S. mainland after gaining new licenses. Binance.US has […]

Crypto tax firm Koinly announced cuts of up to 14% of its global team in response to the “intensifying bear market” — but many employees have pushed back against this narrative. In a Dec. 6 announcement, Koinly founder and CEO Robin Singh said the crypto market downturn coupled with fewer […]

A court in South Korea has supported the decision of local exchanges to delist Wemade’s Wemix (WEMIX) tokens, dismissing Wemade’s request to cancel the delisting. The Seoul Central District Court ruled on Dec. 7 to justify the decision of the Digital Asset eXchange Alliance (DAXA) to delist WEMIX from major […]

Do Kwon has accused FTX’s founder Sam Bankman-Fried and Alameda Research of manipulating the market, leading to the collapse of TerraUSD in May. In a thread of tweets today, the embattled Terraform Labs co-founder sought explanations on the mystery of large transactions involving large chime crypto lending firms and Alameda […]

The Japanese financial group Sumitomo Mitsui Financial Group (SMBC) is moving to explore the benefits of Web3 by issuing soulbond tokens (SBTs). Proposed by Ethereum creator Vitalik Buterin, SBTs refer to digital identity tokens that represent the characteristics or reputation of a person or entity, or a “soul.” Such tokens […]

A federal judge has ordered crypto lender Celsius to return crypto worth around $44 million to the platform’s custody program customers. According to Bloomberg, the verbal order was delivered by United States Bankruptcy Judge Martin Glenn in a Dec. 7 hearing, with the judge noting: “I want this case to […]

It’s happened again, folks. Another digital currency hack is in the books. This time, the victim is Deribit, a cryptocurrency exchange based in the Central American nation of Panama. Deribit Has Lost a Lot of Money At the time of writing, as much as $28 million in crypto assets have been […]

It would appear several crypto mining companies out there continue to either purchase or inherit machines – even though profits in the industry seem to be dying either due to falling crypto prices or growing energy prices. Thus, while the industry is ailing at press time, it’s not giving up […]