Tag: voyager

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FTX Wins Bid to Buy Voyager Digital’s Assets – Top Crypto Updates

FTX wins bid to buy Voyager Digital’s assets out of bankruptcy

Crypto exchange FTX won the bidding war to acquire the assets of bankrupt Voyager Digital. The agreement is valued at about $1.4 billion, comprising an ‘additional consideration’ worth about $111 million and the $1.3 billion market value of all the crypto on the bankrupt platform. Crypto lender Voyager Digital filed for bankruptcy in July.

Crypto prices today: Bitcoin, ETH up 7%

Bitcoin is currently trading at $20,188.98, an increase of 7.46% over the previous day. Ethereum is up 7.41% over the last 24 hours to $1,383.34. Solana rose 7.7% to $34.74, while Cardano is trading higher by 4.6% at $0.461. Polkadot (DOT) jumped 8.62% to $6.77. The global crypto market cap stands at $972.32 billion, a 5.78% increase over the previous day.

Crypto lender Nexo hit with enforcement actions from 8 states

State securities regulators in California and several other states took action against Nexo Group (the parent company of crypto lender Nexo), calling the company’s Earn Interest Product an unregistered security. “These crypto interest accounts are securities and are subject to investor protections under the law,” said the California Department of Financial Protection and Innovation (DFPI) in a press release.

Nearly $1 million in crypto stolen during Ethereum ‘vanity address’ hack

According to blockchain security firm PeckShield, crypto worth $950,000 was stolen in an attack using a vanity-address generator called Profanity. The hackers took 732 $ETH on Sep. 25 before moving the funds to the U.S. government-sanctioned crypto mixer Tornado Cash. A “vanity address” is a crypto address with defined parameters created by the users of the address. 

Disney’s latest job posting hints at major plans for NFT, crypto adoption

The Walt Disney Company posted a job listing for a principal counsel specializing in non-fungible tokens (NFT) and decentralized finance (DeFi). This hints at the company’s broader Web3 expansion across the Disney ecosystem. The position would provide guidance on global NFT products across its business branches, including Disney Media & Parks, Experiences, and Products.

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Binance US Launches High-Yield ETH Staking – Top Crypto Updates

Binance US launches high-yield Ethereum staking

Binance US is the latest major crypto exchange to launch Ethereum staking on its platform. Users can now stake the second-largest crypto by market cap and earn rewards at a starting rate of 6% annual percentage yield (APY). The company’s competitors Lido and Coinbase currently offer 3.5% and 3.25% APY, respectively, on staked ETH.

Crypto prices today: Bitcoin up 2.4%, ETH rises 7%

Bitcoin is currently trading at $19,255.34, an increase of 2.4% over the previous day. Ethereum is up 7.04% over the last 24 hours to $1,626.24. Solana rose 4.32% to $32.44, while Cardano is trading higher by 2.39% at $0.474. Uniswap (UNI) rose 4.3% to $6.10. The global crypto market cap stands at $975.66 billion, a 3.75% increase over the previous day.

Celsius has been insolvent since 2019: Vermont Regulator

Vermont state officials have asked for broader powers to investigate Celsius. They have alleged that the troubled crypto exchange artificially inflated the price of its CEL token at the expense of retail investors going back over three years. “Excluding the company’s Net Position in CEL, liabilities would have exceeded its assets since at least February 28, 2019,” said Vermont assistant general counsel Ethan McLaughlin.

Voyager Digital to auction off assets next week

Bankrupt crypto broker Voyager Digital will auction off its remaining assets next week (Sept 13). Around 22 parties were in meaningful discussions to place a bid for Voyager’s assets as of early August, according to the group’s legal team. Voyager has also been working to return some money to customers. On August 5, the New York bankruptcy court handling the case approved a proposal to return $270 million to affected customers.

GameStop partners with crypto marketplace FTX

GameStop Corp announced a partnership with crypto exchange FTX US to increase its presence in the cryptocurrency space. The company will start selling FTX gift cards at some of its stores as part of the partnership. Earlier this year, GameStop launched a digital wallet and said it would enable transactions in a marketplace it is building for gamers to buy, sell, and trade non-fungible tokens (NFTs).

Crypto lender Nexo introduces spot, futures trading

Crypto lender Nexo has launched a spot, margin, and futures trading platform for retail clients with the launch of Nexo Pro. The platform aims to offer retail clients access to institutional-grade aggregated liquidity with no minimum funding requirement. The product has been rolled out to the five million Nexo clients with up to a 50% discount on standard fees.

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Australia to “Token Map” its Crypto Industry – Top Crypto Updates

Australian to “token map” its crypto industry

The Australian govt. announces plans to “token map” the country’s digital asset sector as an initial step in creating new regulation for cryptos. It would become the first country to catalog the number, type, and underlying code of available cryptos as part of a wider effort to protect investors. More than one million Australians have interacted with cryptos since 2018, according to the Australian tax office.

Crypto prices today: Bitcoin, ETH up 1%

Bitcoin is currently trading at $21,340.3, an increase of 1% over the previous day. Ethereum is up 1.1% over the last 24 hours to $1,585.29. Solana rose 2% to $35.65, while Cardano is trading higher by 0.4% at $0.452. Polygon (MATIC) is up 1.6% to $0.796. The global crypto market cap stands at $1.01 trillion, a 0.74% increase over the previous day.

FDIC hits FTX with cease-and-desist over false statements

The Federal Deposit Insurance Corporation (FDIC) has issued cease-and-desist letters to five crypto companies, including FTX US, for making “false representations” that their products were FDIC-insured. The firms have 15 days to remove the “false and misleading statements” from their websites and social media accounts. They also have to send written confirmation to the FDIC.

Creditors object to bankrupt Voyager paying out bonuses

Creditors of bankrupt crypto lender Voyager Digital Holdings are objecting to the company’s request for funds to payout staff bonuses. They said the employees are already “well-compensated.” The creditors’ objection came after Voyager submitted a motion on Aug. 2 to ask a judge to approve an employee retention plan that cost up to $1.9 million.

SEC Chair calls crypto firms to comply with securities law

In a weekend op-ed to The Wall Street Journal, SEC Chairman Gary Gensler renewed his call for crypto firms to “comply with securities law.” He highlighted crypto lending platforms’ freezing of accounts and recent bankruptcies that have left investors beholden to legal proceedings. “There’s no reason to treat the crypto market differently from the rest of the capital markets just because it uses a different technology,” he wrote.

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Zipmex Files for Bankruptcy Protection in Singapore – Top Crypto Updates

Zipmex files for bankruptcy protection in Singapore

Southeast Asia-focused crypto exchange Zipmex has filed for bankruptcy protection in Singapore. It has become the latest victim of the global downturn in digital currencies. The company is working to address its exposure of $53 million to crypto lenders Babel Finance and Celsius. Meanwhile, Thailand’s Securities and Exchange Commission is looking into potential losses among the public after Zipmex temporarily suspended withdrawals on July 20.

Crypto prices today: Bitcoin rises 4%, ETH up 4.7%

Bitcoin is currently trading at $24,095.4, an increase of 3.9% over the previous day. Ethereum rose 4.75% over the last 24 hours to $1,724.26. Solana jumped 9.4% to $43.64, while Cardano is trading higher by 4.17% at $0.528. Polygon (MATIC) surged 9.4% to $0.969. The global crypto market cap stands at $1.11 trillion, a 4.71% increase over the previous day.

Miami to launch 5,000 Ethereum NFTs with TIME, Mastercard, Salesforce

Miami city’s Mayor Francis X. Suarez has shared plans to release 5,000 Ethereum non-fungible tokens (NFTs) later this year. The city is partnering with TIME magazine publisher Time USA, Mastercard, and Salesforce for the project. The NFTs will be designed by 56 different Miami artists, representing the city’s 56 square mile area.

Ethereum’s final Testnet merge set for early August

The Goerli/Prater testnet deployment will occur next week. It is the final test to be completed before Ethereum’s much-anticipated transition to proof of stake. Proof-of-stake is a crypto consensus mechanism for processing transactions and creating new blocks in a blockchain. Testnets like Goerli are essentially trial runs that prepare for the merge by moving the entire Ethereum mainnet over to a test network environment.

US Fed, FDIC order Voyager to stop misleading claims over deposit insurance

The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) have ordered crypto lender Voyager Digital to stop making “false and misleading” claims that its customer’s funds were insured by the government. Voyager had claimed that its customer’s funds are insured by the FDIC in the event of its collapse. Earlier this month, Voyager filed for bankruptcy in New York after halting customer transactions on its platform.

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Nexo Plans to Acquire Crypto Lender Vauld – Top Crypto Updates

Nexo plans to acquire troubled crypto lender Vauld

UK-based Nexo has signed an indicative term sheet with the troubled Singapore-based crypto lender Vauld. Under the agreement, Nexo has a 60-day exploratory period within which the company will conduct a due diligence process related to the intended acquisition. Nexo intends to acquire up to 100% of the firm and reorganize its future operations to deepen its presence in Asia.

On Monday, Vauld suspended all withdrawals, trading, and deposits on its platforms due to rising “financial challenges”.

Crypto prices today: Bitcoin falls 1.6%, ETH down 2.8%

Bitcoin is currently trading at $20,029.83, a decline of 1.66% over the previous day. Ethereum fell 2.8% over the last 24 hours to $1,131.58. Solana rose 0.32% to $36.01, while Cardano is trading lower by 2.36% at $0.457. Avalanche (AVAX) rose 2.2% to $18.41. The global crypto market cap stands at $907.23 billion, a 0.51% decline over the previous day.

Crypto firm Voyager files for bankruptcy

Crypto lender Voyager Digital has filed for bankruptcy after suspending withdrawals, trading, and deposits to its platform last week. The Toronto-listed firm estimated that it had more than 100,000 creditors and between $1 billion and $10 billion in crypto assets. Voyager’s stock plunged 11.62% as the news broke.

Bank of England calls for better crypto regulation

In its latest Financial Stability Report, the Bank of England (BoE) called for stricter financial regulations on the back of the recent crypto crash. The report further stated that risk is growing with the crypto industry’s expanding connection with the wider financial system. It added that investor confidence in stablecoins has been shaken, especially those with riskier backings or with less transparency.

Most Indian traders impacted by India’s crypto tax: survey

India’s 30% tax on crypto has severely impacted the trading frequency of 83% of traders, as per a survey conducted by crypto exchanges WazirX and ZebPay. The survey included 9,500 respondents that had actively traded between Jan. 1 and April 15. Around 24% of respondents said they are considering moving trading activities to international exchanges. Meanwhile, 29% said they have traded less since the introduction of the tax.