SEC says it could challenge FTX crypto repayment plan
The regulator said that while stablecoin-denominated creditor repayments may not be illegal, it reserves its rights to challenge transactions involving crypto assets.
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The regulator said that while stablecoin-denominated creditor repayments may not be illegal, it reserves its rights to challenge transactions involving crypto assets.
Kraken rejects the SECs securities allegations, Brazil lifts the freeze on Starlinks bank account, the UK clarifies crypto property rights, and Coinbase backs NFTs legal defense.
In August 2022, Michael Saylor faced allegations of tax evasion. He has since reportedly made the largest income tax fraud settlement in the history of the District of Columbia.
Bitcoin refuses to budge after the latest U.S. macro data, but a six-figure BTC price is waiting the wings, analysis claims.
According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCGs equity stake.
The transfer of the bankruptcy claim from FTX EU to FTXcreditor could have a significant impact on stakeholders.
The recent guidelines set forth by the US Securities and Exchange Commission (SEC) regarding stablecoins have sparked a debate within the cryptocurrency community. Caroline Crenshaw, a SEC commissioner, has raised concerns about the potential impact of these guidelines on the stablecoin market. Crenshaw believes that the SEC’s approach to regulating stablecoins may stifle innovation and [...]
The post SEC Misrepresents USD-Stablecoin Market, Claims Crenshaw appeared first on Crypto Breaking News.
Backpack Initiates Process for Former FTX EU Users to Reclaim Funds Backpack, a leading digital asset platform, has launched the claims process for previous users of FTX EU who were affected by the exchange’s closure. Users can now submit their claims to retrieve their funds through Backpack’s streamlined and efficient procedure. The process is designed [...]
The post Backpack Expands Claims Process for Former FTX EU Users appeared first on Crypto Breaking News.
Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured [...]
The post Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors appeared first on Crypto Breaking News.
Galaxy Digital, the cryptocurrency investment firm, is facing a lawsuit from a lesser-known entity called NayG for alleged misconduct. This legal battle, often referred to as “lawfare,” brings attention to the complexities and risks within the digital asset industry. The lawsuit is spearheaded by NayG, a relatively unknown player compared to the renowned Galaxy Digital [...]
The post Galaxy Lawsuit Slammed as ‘Lawfare’ by NAYG – Exposing Scaramucci’s Claims appeared first on Crypto Breaking News.
Terraform Labs Launches Portal for Crypto Loss Claims On March 31, Terraform Labs unveiled a groundbreaking initiative by introducing a platform dedicated to handling claims related to cryptocurrency losses. This innovative solution aims to provide crypto investors with a streamlined and efficient process for seeking restitution in cases of financial loss within the digital asset [...]
The post Exciting News: Terraform Labs Unveiling Loss Claims Portal on March 31 appeared first on Crypto Breaking News.
OPNX chief Leslie Lamb called out a number of venture capital firms on Twitter after some rushed to distance themselves from the company.
A number of supposed Open Exchange (OPNX) investors have been blasted by the CEO of the crypto claims trading platform after some publicly distanced themselves from the project after being named as backers. On April 22, OPNX’s CEO Leslie Lamb tweeted that the behavior of the firms was “disgusting” and “disappointing” saying they “want all [...]
The post OPNX CEO scolds claimed backers after they deny investing in the firm appeared first on Crypto Breaking News.
DeFi insurance firms paid out $34.4 million in claims in 2022, including $22.5 million for the collapse of Terra Luna and $4.7 million for FTX. DeFi insurance now covers eight major categories, but more work is needed to scale.
(Read More)
Celsius made the announcement that it will try to push out the date by which claims need to be submitted from January 3 to the beginning of February. The application is scheduled to be heard by the bankruptcy court on January 10th. As of the 29th of December, more than 17,200 claims had been submitted by Celsius' creditors. The total amount of money that had been paid out in legal and other professional expenses related to the bankruptcy case had already reached 53 million dollars. (Read More)
XA Group has rolled out the first end-to-end and blockchain-based digital solution dubbed Addenda to tackle the decades-old industry challenge of reconciling motor recovery claims. (Read More)
Bitcoin has broken above the $21,000 mark in intraday trading Friday, putting up a bear market rally as a recently hot US dollar cools some of its momentum.
The weakening dollar index has seen a bump in risk asset markets, with cryptocurrencies and stocks rising yet again ahead of the weekend.
A look at the flagship cryptocurrency’s performance today, shows we currently have a 9.7% return in the past 24 hours. Bitcoin (BTC/USD) presently hugs $21,186 to put the ‘digital gold’ more than 5% in the positive over the weekly time frame.
As Bitcoin recovers from its slump to June 2022 levels, the stock market has also seen decent gains (all major US indices are more than 1% up as at 11:30 am ET on Friday). Meanwhile, the greenback has eased against a basket of its peers and is down nearly 1%.
Bitcoin price: analyst viewBitcoin has also reclaimed the $400 billion market cap level, the upside pushing the total crypto market capitalization to $1.09 trillion with a 24-hour change of +6.4% at the time of writing.
What’s next for BTC? Some of the top crypto analysts have shared their short term projections and analysis.
Pseudonymous crypto analyst The Wolf of Few Streets says the fall to lows of $18,500 was catalysed by the dollar’s strength. The trader shared via Twitter:
“At the moment, the dollar is correcting and the stock markets are showing a slight plus, this gives strength to the crypto market and there is a high chance to recover. On the weekly chart, this reminds me a double bottom formation and looks like a consolidation.”
Altcoin Sherpa says the $21,700 area could be of interest to bears, though a breakout here could set Bitcoin to the $23k level.
$BTC: Squeeze came, 21k ish hit. I think it's best to take profit if you bought yesterday/last few days, this is an area of resistance and 200 EMA on the 4h. If this goes higher, I like the 23k area (and 21.7k first). #Bitcoin pic.twitter.com/OveWkbgBao
— Altcoin Sherpa (@AltcoinSherpa) September 9, 2022Rekt Capital, another popular crypto analyst with more than 328,000 Twitter followers, holds a similar view as above. He opines that Bitcoin could rally into the 200-week moving average (above $23,200) before flipping that into resistance.
#BTC has been able to hold ~$19170 & preserve the subtle Higher Low
Because $BTC lost the 200-week MA weeks ago but failed to flip it into resistance, there will always be the argument that BTC could relief rally into the MA & flip it to new resistance soon#Crypto #Bitcoin https://t.co/UifcxEum4b pic.twitter.com/lWUqF4O1aF
Earlier in the day, as Bitcoin rallied above $20,000, Marcus Sotiriou of UK-based digital assets broker GlobalBlock told clients in a note that the market was seeing optimism ahead of “next week’s inflation report.”
He wrote:
“Gasoline prices have been reported to be negative two months in a row – down 8% in July and then down 13% in August. This, coupled with the breakdown in respondents in the ISM report last week showing slower delivery times, could result in another decline in U.S. CPI year-over-year on September 13th.”
Sotiriou suggests BTC could rally going into the report, with inflation fears likely priced in ahead of Fed’s September meeting.
The post Bitcoin reclaims $21K as US dollar corrects: What analysts are saying about BTC appeared first on Invezz.
The price of Ripple's XRP plummeted as hard as 27% as the Terra ecosystem crash plunged the entire crypto market into the red sea.
Opensea co-founder and CEO, Devin Finzer, has denied rumors that the non-fungible token (NFT) marketplace’s codebase was breached and that attackers had stolen $200 million. According to Finzer, an investigation had shown that the attacker had $1.7 million worth of ethereum in his wallet by leveraging a phishing scheme. Attacker Reportedly Returns Some Stolen NFTs […]
Several users of the now-bankrupt crypto exchange FTX could be facing a phishing attack. According to a report by CoinDesk, suspicious password reset emails are being sent out to users from the exchange’s official customer support email, support@ftx.com.
?? Several users of bankrupt crypto exchange FTX are being targeted today A potential phishing attack, being sent a "reset password" request from the exchange's official customer support emailThe email was sent by support@ftx.com - the official email address before the… pic.twitter.com/DOTucjh36b
— The Roundtable Show (@RoundtableSpace) July 20, 2023A Potential Phishing Attack?
Phishing is an online campaign through which users are sent fake emails, text messages or phone calls, in order to obtain sensitive information such as passwords and credit card numbers. According to CoinDesk, the links attached to the suspicious emails direct users to the bankruptcy claims portal.
Finance Magnates reported that FTX previously disclosed plans to launch a claims portal, claims.ftx.com, for customers owed by the exchange before its collapse last November to state their claims. The move came as a bankruptcy court in Delaware, United States, ordered customers of the failed crypto trading platform and its affiliated entities to submit their ‘proofs of claim’ on or before 4 pm EST on September 29, 2023.
The FTX Debtors’ “Customer Bar Date” has been set for September 29, 2023 at 4 PM ET. To streamline the process for customers, the FTX Debtors are finalizing an online claims portal at https://t.co/DkYi2hDLbI. FTX Debtors will announce when the portal is active.
— FTX (@FTX_Official) June 28, 2023With the deadline drawing nearer, it appears these users have become the target of a phishing campaign. Finance Magnates is yet to receive a response to its request for comment on the development. Previously, FTX disclosed that it had recovered $7 billion out of the $8.7 billion owed to customers.
Earlier in the month, FTX warned customers to stay on alert for ‘phishing attempt links from other channels’. The bankrupt firm said such channels “may appear to look like the FTX Debtors’ online claims portal.”
(3/4) Please be aware of phishing attempt links from other channels, which may appear to look like the FTX Debtors' online claims portal.
— FTX (@FTX_Official) July 12, 2023In October, a month before FTX filed for bankruptcy, the crypto trading platform suffered a phishing attack and subsequently promised to compensate victims with almost $6 million. At the time, the attackers gained access to the application programming interface (API) keys of the victims, Finance Magnates reported.
As of the fourth quarter of 2022, 2.3% of all phishing attacks were directed at the cryptocurrency industry, according to a recent report. Targets of such attacks include crypto PR businesses, decentralized finance exchanges, and wallet services, among others.
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This article was written by Solomon Oladipupo at www.financemagnates.com.World Crypto Global opens the door to digital freedom for everyone.
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