Month: January 2023

Genesis’ first hearing in its bankruptcy case is set for January 23.

About $125 million was sent to exchanges in the run-up to Genesis’ lending division filing for Chapter 11, and more was moved the next day.

The U.S. seized $700 million of former FTX CEO Sam Bankman-Fried’s assets and is now seeking their forfeiture.

Bitcoin rose 6% to trade at $22,300. Ether was also trading up, by 5% to $1,640. Equities closed up.

A CryptoCompare report found that as inflation surged worldwide, the crypto exchange giant attracted the largest number of retail investors from countries facing high inflation.

The Stellar Development Foundation was revealed to be among the bankrupt crypto lending desk’s largest creditors.

On-chain data sourced from CryptoQuant shows that the 5,592 BTC worth some $124 million that was transferred out of the miner’s address in the past three days ended up in Binance.

Bitcoin rose over 5% and reached its highest level since mid-September. Market watchers will be eyeing the Federal Reserve’s next utterances.

The ratings agency cited Coinbase’s weakened revenue and cash flow generation potential due to the ongoing crypto winter as reasons for the move.

Eric Snyder, partner at Wilk Auslander LLP, says that a substantial amount of haircuts are likely to be made, but that depends on the petition Genesis’ trio of companies filed.