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Introduction Open Exchange (OPNX), a unique platform that allows trading of bankruptcy claims alongside crypto exchange operations, has announced its decision to cease all activities by February 14. This comes as the co-founders, Kyle Davies and Su Zhu, face legal repercussions stemming from their involvement in the collapse of Three Arrows Capital (3AC), a Singapore-based […]

Introduction Polygon Labs, a leading company in the digital industry, has made the decision to reduce its workforce by 60 employees, constituting approximately 19% of its total staff. CEO Marc Boiron shared this strategic move in order to recalibrate and enhance operational performance, aiming to create a lean and efficient team. The Reason Behind the

Australian Dollar Withdrawal Requests A recent ruling by the Victorian Supreme Court has increased the prospects of Australian creditors of the crypto exchange FTX getting their money back. The ruling clarified that only those who initiated Australian dollar withdrawal requests are eligible for full reimbursement. This development has provided a boost to the recovery efforts

Genesis Strikes $21 Million Deal With SEC to Resolve Lawsuit Genesis Global Holdco has reached a $21 million settlement to resolve a lawsuit concerning its crypto lending practices. The subsidiary of Digital Currency Group, Genesis, faced allegations from the SEC for the unregistered offer and sale of securities through its Gemini Earn program. The proposed

A Shockwave Hits the Banking Sector Following the U.S. central bank's decision to maintain the federal funds rate, the commercial real estate market experienced turbulence that sent shockwaves through the country's banking sector and beyond. New York Community Bancorp witnessed a significant 13% decline, while Japan's Aozora Bank plunged to its lowest point in eight

Insights from a Recent International Survey A recent international survey conducted by Bitget has shed light on the hopeful perspective of the crypto market. The survey gathered insights from nearly 10,000 individuals across various regions, including West Europe, East Europe, Southeast Asia, East Asia, MENA, and Latin America. The results of the survey indicate that

The U.K. Metropolitan Police have reportedly confiscated over 61,000 bitcoins from a massive Chinese investment scam. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole approximately $6.4 billion from more than 128,000 investors. British Police Seize Over 61,000 Bitcoins The U.K. Metropolitan Police have seized more than 61,000 bitcoins

Economist Peter Schiff believes that the recent decision by Federal Reserve Chairman Jerome Powell to take the March rate cut off the table may actually increase the probability of a rate cut happening in March. Schiff argues that the Federal Reserve's role is to create inflation and then pretend to combat it. He emphasizes that

Tether, the leading stablecoin issuer, has announced today the results of its audit, conducted by renowned auditing firm BDO. The audit report reveals that Tether holds over $2.8 billion worth of Bitcoin, solidifying its strong financial position in the market. Audit Confirms Tether's Financial Standing The recently published audit report provides a comprehensive analysis of

Fed Maintains Federal Funds Rate On Wednesday, Jan. 31, 2023, the U.S. Federal Reserve made the decision to keep the federal funds rate unchanged. The Federal Open Market Committee (FOMC) also stated that it does not expect to lower the target range until it is more confident that inflation is steadily approaching the 2% mark.