Binance
2 Likes
While wordsmithery isnât the right description, I canât think of something better. I really like this one sentence.
For starters, Binance CEO, Changpeng Zao, known informally as âCZâ, has said repeatedly that the company has no headquarters, which sounds contemporary at first, but appears to be a diversion from the fact that Binance has been banned from operating in several countries.
The entire article is full of data, well written, and easy to understand.
More Binance
2 Likes
SEC - blame the victims, sue the survivors
SEC sues Genesis, Gemini. The Securities and Exchange Commission on Thursday sued Genesis Global Capital LLC and Gemini Trust Company LLC over a $900 million crypto-lending program that allegedly violated investor-protection laws.
The SEC filed its civil lawsuit in Manhattan federal court alleging that Genesis should have registered the product, which would have required providing clients with detailed financial disclosures. The companies began marketing the program to individual investors in February 2021 and raised billions of dollarsâ worth of crypto assets from hundreds of thousands of investors, the SEC said.
Elsewhere
Crypto.com cuts 20% of its staff, citing economic downturn and FTX collapse. Crypto.com is cutting a fifth of its global workforce, in a second round of layoffs in six months, after a plunge in the value of many cryptocurrencies and the collapse of rival FTX.
FTX liquidation doesnât seem to be particularly well run.
Still, things are looking up
Bids on FTX acÂcounts hit 15.5 cents on the dolÂlar on WednesÂday on the bankÂruptcy claims tradÂing platÂform Xclaim Inc., which runs a marÂket for buyÂing and sellÂing crypÂtocurÂrency acÂcounts in chapÂter 11. CheroÂkee AcÂquiÂsiÂtion, which runs a sepÂaÂrate bankÂruptcy claims marÂket, said bids on FTX claims inÂcreased to roughly 14 cents on the dolÂlar this week afÂter lawyers deÂtailed their efÂforts to find and seÂcure the comÂpaÂnyâs asÂsets.
The bids were still just a fracÂtion of the acÂcountsâ listed value, but they repÂreÂsented the highÂest ofÂfers since the crypÂtocur-rency firmâs swift colÂlapse in early NoÂvember. FTX acÂcounts had been priced at beÂtween 6 cents and 11.5 cents on the dolÂlar since it plunged into chapÂter 11, acÂcordÂing to CheroÂkee AcÂquiÂsi-tion.
3 Likes
Bitcoin has held steady above $21,000 for the last two days, bringing it back above the price it was when Sam Bankman-Friedâs crypto exchange, FTX, began its slide toward bankruptcy.
Since Monday, bitcoin has largely held steady above $21,000, well above its Nov. 2 price of $20,283
1 Like
Genesis going down too
2 Likes
If you care about the market in crypto claims, ie where you sell you account balance in some bankrupt crypto exchange for âcash nowâ
1 Like
BlockFiâs 125 remaining employees are being paid handsomely as part of the proposed retention plan designed to keep some people on board during the bankruptcy process, the filing shows.
The retained employees will collect an aggregate $11.9 million on an annualized basis. Among the remaining staffers are three client success employees, who will each take home an annualized average of over $134,000.
Five employees still with the company make an average of $822,834, according to the presentation, which shows that BlockFiâs retention âplans are larger than comparable crypto cases.â
Must be nice! BK firm but we get ours⌠.My turn to say Pay your bills deadbeats!
WTH is a client success employee at a BK firm???
1 Like
BS. âI know nothingâ
1 Like
Pigs fly:
3 Likes
I disagree. Pigs arenât flying until the politicians return the money. 
1 Like
yes I forgot the If part 
Regulators hating on âstakingâ, fines Kraken.
2 Likes
Tether some disclosures
1 Like
blockfi BK form. Debating whether Iâll see anything but WTH
https://forms.ra.kroll.com/efiling/fr/claim-lookup/blockfi/new
SEC charges fraud for LUNA unstable coin blowup
2 Likes
Celsius
Celsius reaches deal to sell crypto platform to NovaWulf. Bankrupt cryptocurrency firm Celsius Network LLC reached a deal to sell its lending platform to NovaWulf Digital Management LP as part of a plan to distribute its coins and other assets to customers.
Takeaway: An estimated 85% of its users would get back a 70% share of their account balances in the form of liquid cryptocurrency, including bitcoin, ether and stablecoins. Retail customers are owed the majority of the companyâs $1.2 billion in liabililities.
2 Likes
FTX recovery prospects
2 Likes
Anything on BlockFi? I got a really long claim BK form from Kroll. Not sure if worth it for $200 for Xcents-on-the-dollar-