CRYPTOCURRENCY
Genesis settles with the SEC, agreeing to a $21 million penalty
Genesis Global Capital, LLC settles with the SEC, agreeing to a $21 million penalty for unregistered securities offerings through its Gemini Earn program.
DCG Challenges Genesis Capital's Bankruptcy Plan for Overcompensation
DCG opposes Genesis Global Capital's bankruptcy plan, citing legal violations and ethical concerns over asset valuation and creditor compensation in the volatile crypto market.
Genesis Global Capital Moves to Liquidate $1.6 Billion in Grayscale Trusts Amid Bankruptcy
Genesis Global Capital has petitioned the U.S. Bankruptcy Court to sell off its Grayscale Bitcoin, Ethereum, and Ethereum Classic Trust holdings, totaling approximately $1.6 billion. This strategic liquidation aims to maximize creditor repayments amidst potential market volatility, following a recent SEC settlement.
FTX Seeks Court Approval to Sell $175M Genesis Claim Amid Bankruptcy Proceedings
FTX has filed a motion in Delaware court to sell a $175 million claim against bankrupt Genesis Global Capital, aiming to optimize returns from the sale. The move is part of FTX's broader strategy to manage its financial recovery post-collapse, with the proposed sales procedure designed to ensure maximum value from the claim amidst Genesis's ongoing legal and financial challenges.
Genesis Agrees to $21 Million SEC Settlement in Bankruptcy Resolution Effort
Genesis Global settles with the SEC for $21 million over unregistered securities sales allegations, aiming to mitigate legal challenges and focus on repaying customers amid bankruptcy proceedings. The agreement, pending a February 14 hearing, marks a significant step towards resolving the company's financial and legal hurdles.
Decline in Cryptocurrency ATMs in 2023: A Global Perspective
In 2023, the global number of Bitcoin ATMs decreased by 11.1%, marking the first decline in a decade, with the U.S. being the largest host, contrasting with growth in the EU and other regions.
DCG Completes Payment of Short-Term Debts to Dissolved Crypto Lender Genesis
Digital Currency Group paid up all short-term loans to Genesis, a previous bitcoin lending platform, as promised. DCG repaid $700 million in 2023 despite crypto sector woes. Genesis filed for bankruptcy in early 2023 after a withdrawal halt due to obligations of over $3.5 billion to its principal creditors. The bitcoin market is changing significantly with this development.
Mysterious $1.17 Million Bitcoin Transfer to Bitcoin Creator Nakamoto Wallet
A recent transaction of 27 BTC to a Satoshi Nakamoto wallet has raised interest in the cryptocurrency community, particularly considering the Genesis Block's 15th anniversary. This event celebrates Bitcoin's history and raises questions about its future and originator.
Long-term Dormant Ethereum ICO Participant Activates $3.2 Million Worth of ETH
An Ethereum ICO participant re-emerged after 8.2 years of inactivity, transferring 2,000 ETH ($3.2 million) to four different addresses on October 21, 2023. Acquired at a mere $620 at the Ethereum Genesis, this move not only underscores Ethereum's substantial price appreciation but also hints at potential market dynamics as long-dormant assets re-enter circulation. The transaction could signal various intents, from cashing out to redistributing or reinvesting the holdings, each with its own set of implications for the Ethereum market.
Immutable's zkEVM Marches Towards Mainnet with a Series of Milestones
Immutable progresses towards the Mainnet launch of its zkEVM, underpinned by a series of strategic milestones and a growing gaming ecosystem. The journey encompasses a testnet launch, re-genesis, the imminent mainnet release, and future dedicated app chains and prover integration, setting the stage for a robust gaming arena on the Ethereum blockchain.