Fund recoveries for clients and creditors of bankrupt crypto lender BlockFi will depend heavily on the firm’s claims against its commercial counterparties including FTX and Alameda, court filings from Friday show. In its wind-down plan filed to the U.S. Bankruptcy Court for the District of New Jersey, BlockFi said “the success or failure” of litigation supporting these

South Korean prosecutors searched accounts at major exchanges Upbit and Bithumb, relating to the transfers made by former lawmaker Kim Nam-kuk on Monday.Messaging app Kakao was also included in the search due to Kim using its Klip cryptocurrency wallet, according to Coindesk Korea. Since last week, Rep. Kim Nam-kuk of the Democratic Party of Korea has been

Hedge fund manager Paul Tudor Jones said that bitcoin (BTC) has become less attractive thanks to what’s become an unfriendly regulatory picture in the U.S. and what he expects will be lower inflation going forward.“Bitcoin has a real problem because in the United States, you have the entire regulatory apparatus against it,” Jones said on

The crypto community in Australia remains enthusiastic about digital assets, despite regulatory concerns dominating discussions at recent crypto conferences. Attendees are more interested in discussing intelligent questions around regulation and tax rather than the extravagant parties of past events. While regulatory concerns remain high, the rise in the price of Bitcoin is encouraging the crypto-curious

BRC-20 tokens, the newest token standard on the Bitcoin blockchain, have gained significant traction in the cryptocurrency market. With the total market capitalization of BRC-20 Bitcoin tokens surpassing $1 billion and a trading volume of $207.7 million in the past 24 hours, BRC-20 tokens like ORDI, NALS, VMPX, PEPE, and MEME have emerged as some

QuadrigaCX’s bankruptcy trustee, Ernst & Young, has announced an interim distribution of funds to creditors of the now-defunct Canadian cryptocurrency exchange. The announcement was made in consultation with estate inspectors, and a Notice to Affected Users will be posted soon with further details about the distribution process. QuadrigaCX became insolvent in February 2019, following the

Former Director of Developer Relations at Ripple Matt Hamilton has weighed in on the debate regarding the fate of Ripple’s XRP holdings if the company is required to dispose of them. Hamilton suggested that Ripple could render their entire future escrow funds inaccessible to even themselves by disabling the master key on the destination account,

Cryptocurrency mining firm Riot Platforms formerly Riot Blockchain is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner Rhodian Enterprises, according to its first quarter report. of 2023. Riot’s Q1 2023 financial report stated that Riot’s wholly-owned subsidiary Whinstone filed a petition on May 3 in the 20th

In a bid towards technological growth in Africa that focuses on the creation of Web3 and blockchain technology applications, Venom Foundation has announced a strategic partnership with the Government of Kenya. This partnership aims to promote innovation in significant fields like supply chains, financial infrastructure, agriculture, SMEs, and cross-border trade for the benefit of Kenya

The United States government faces a “significant risk” of no longer meeting all of its financial obligations as early as June, as per a recent report. According to a May 12 report published by the U.S. Congressional Budget Office (CBO), the risk of the U.S. government defaulting on its debts in the near future stems from reaching its

Assassin’s Creed, one of Ubisoft’s most popular gaming franchises, has announced a series of customizable “smart collectibles” featuring digital and physical components. The collectibles are set to drop on May 16 and consist of a transparent 3D-printed cube with a character figure inside and a Polygon-based nonfungible token (NFT) called a “Digital Soul,” which provides

BlockGPT, a recently launched Web3 company, announced the launch of its ‘chat to earn’ artificial intelligence (AI) service and related blockchain ecosystem on May 11.  According to the company, BlockGPT aims to create a decentralized, token-governed chatbot on the blockchain with similar functionality to OpenAI’s ChatGPT. The AI model’s launch comes alongside the offering of two tokens,

Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal tender. Congressional records show Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of cryptocurrency

Crypto exchange Binance has announced that it would cease operations in Canada, citing the challenging regulatory environment. “We had high hopes for the rest of the Canadian blockchain industry,” the company said in a Friday tweet. “Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable

Former users of the bankrupt Canadian crypto exchange Quadriga CX will soon get a check for 13% of their claim, according to a notice to creditors published late Friday by accounting giant EY. Documents from EY shows Quadriga’s estate owes CAD $303.1 million ($222.3 million) across 17,648 claims from creditors, including Canada Post and the country’s tax

Marathon Digital Holdings and Zero Two have announced a partnership to create a large-scale immersion Bitcoin-mining facility in Abu Dhabi. The joint venture, called the Abu Dhabi Global Markets JV Entity, will be based in Mina Zayed and Masdar City in the United Arab Emirates, and will comprise two mining sites with a combined 250-megawatt

Lido, the dominant liquid staking platform, is voting to execute its second iteration on the Ethereum blockchain, a pivotal moment for users in the decentralized finance (DeFi) community that want further decentralization and better on and off ramps into Ethereum’s staking ecosystem. Lido’s Twitter account is calling v2 the “most important upgrade to date” since

Whinstone US, a unit of bitcoin mining firm Riot Platforms (RIOT), is suing another miner – Rhodium Enterprises – alleging it is owed $26 million in hosting fees and asking a local court to declare that it doesn’t owe any credits related to demand response programs to the defendant. Riot first disclosed its allegations in

Countries around the world are beginning to grapple with the pervasiveness of artificial intelligence (AI). While some look to the emerging technology with concern, others, like Romania, embrace it.  According to a report from the Financial Times, Romanian officials have introduced an AI-powered robot named Ion, intending to enhance the government’s understanding of public concerns.  Sebastian Burduja,

The European Union plans to force crypto companies to give tax authorities details of their clients’ holdings, according to a draft bill released under freedom of information laws. The data-sharing law, based on a model from the Organization for Economic Cooperation and Development (OECD), is set to be agreed by finance ministers next week, and will allow

Terraform Labs founder Do Kwon is set to be released from Montenegro jail on supervised bail as his trial on document forgery charges continues, a court notice from Friday shows. The Basic Court of Podgorica said in its statement that it has accepted a proposal made Kwon’s lawyers on Thursday to pay 400,000 euros ($435,000) to release

Liquidity is essential for the functioning of the financial system, serving as its lifeblood. It refers to an asset’s ability to be quickly sold or exchanged for another asset without significantly affecting its price. Financial systems can come to a standstill when funds are not readily available. This applies to traditional finance and emerging blockchain-based

OKX, a crypto exchange based in Seychelles, has launched a global ad campaign that targets the “broken ways” of the centralized financial system. The campaign, which was produced in collaboration with OKX’s advertising agency, BBDO New York, takes a direct aim at Coinbase’s campaign launched on March 9 that argued for the update of the

Electronics firm LG is seeking patent protection for a television that enables users to trade non-fungible tokens (NFTs). The device would be able to establish a connection with an NFT market server, receive and display preview artwork and fulfil purchases via the user’s cryptocurrency wallet which would be connected to the TV. LG began its

The cryptocurrency industry’s town square Twitter has found a new CEO, Elon Musk tweeted Musk didn’t identify his replacement by name, but said she’ll start in about six weeks. The Wall Street Journal is reporting that former NBC Universal executive Linda Yaccarino is in talks to take the job. Elon Musk who bought Twitter last

The Bank of Canada (BoC) has launched a public consultation to seek input from Canadians on the possible creation of a digital Canadian dollar. The consultation will run from May 8 until June 19, and the bank has emphasized it is not currently developing a central bank digital currency (CBDC) nor looking to replace cash.

Users of the now-defunct Canadian cryptocurrency exchange QuadrigaCX are expected to receive interim distribution of funds tied to bankruptcy proceedings in the coming weeks. Law firm Miller Thomson, which represents QuadrigaCX users, announced the news recently. Bankruptcy trustee Ernst & Young has consulted with estate inspectors to announce the interim distribution. In the near future,

Grayscale Investments, the cryptocurrency asset manager, is seeking approval from the United States Securities and Exchange Commission (SEC) for three new cryptocurrency-focused exchange-traded funds (ETFs). The new funds include a Bitcoin Composite ETF, an Ethereum Futures ETF, and a Privacy ETF. Grayscale’s Bitcoin Composite ETF will invest in exchange-traded products related to or backed by

Central banks should veto large stablecoins if they have fears they could upend monetary policy, the chair of the European Banking Authority (EBA) has said, citing fears that the use of permissionless blockchains could prove financially unsound. EBA Chairperson José Manuel Campa will in the coming months be setting out the detailed rules to implement