Two months after FTX filed for bankruptcy, lawyers for the cryptocurrency exchange have begun to identify and put a value on its assets, as they determine how much they will be able to recover to repay lenders and customers who lost billions of dollars. In a court filing, lawyers from the New York firm of … Read more
The peg for the listed crypto token wore thin due to a “timing mismatch”, the exchange said Tuesday. Last year Terra’s UST stablecoin lost its peg, helping feed a massive selloff in crypto markets. Crypto giant Binance has admitted that it hasn’t always maintained the reserves needed to keep the price of its BUSD-linked stablecoin … Read more
Patients are seen waiting outside the AIIMS Pediatric Emergency ward, even as servers remained down for over six days. Hackers have allegedly demands a ransom of ₹200 crore in crypto currency from All India Institute of Medical Sciences, in Delhi on November 29, 2022. The services at the All India Institute of Medical Sciences (AIIMS) … Read more
Terming cryptocurrencies a “clear danger”, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday said anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name. “While technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial … Read more
“Fortune favors the brave,” Matt Damon declared in a recent ad. Walking through computer-generated scenes of explorers and adventurers, Damon then told viewers how they could join the ranks of these brave people: by trading cryptocurrency on Crypto.com. The message from the Crypto.com ad — echoed by a slew of other crypto companies that paid … Read more
President Joe Biden has signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should create its own digital currency United States (U.S.) President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether … Read more
BitConnect founder Satish Kumbhani, charged in the U.S. last week with a $2.4 billion Ponzi scheme, has vanished from his native India, officials told a New York judge. In September, before the criminal charges were filed, the U.S. Securities and Exchange Commission had sued Kumbhani, claiming he fraudulently raised more than $2 billion from investors … Read more
When the United States barred Americans from doing business with Russian banks, oil and gas developers and other companies in 2014, after the country’s invasion of Crimea, the hit to Russia’s economy was swift and immense. Economists estimated that sanctions imposed by Western nations cost Russia $50 billion a year. Since then, the global market … Read more
Marc Andreessen is among the biggest defenders of the prospects of Web3. Web3 is proving to be the most divisive idea in the tech sector in years. Proponents see it democratizing the internet, while critics view it as a VC plaything. Investors say there are challenges to overcome, but the adoption of Web3 could be … Read more