Bybit CEO refutes insolvency rumors, shares proof-of-reserves

Ben Zhou shared a post on X, clarifying that none of the rumors have any real facts supporting them.

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Gate.io denies liquidity problems after Multichain CEO goes missing

Centralized crypto exchange Gate.io denied rumors of illiquidity on May 31, stating that “there are no issues with our operations or withdrawals as rumored.” The statement comes after numerous Twitter channels had alleged that the exchange was experiencing insolvency due to an alleged connection between it and the cross-chain router protocol Multichain (MULTI). The Gate.io [...]

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Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators mandated the closure of Prime Trust. Despite these challenges, Coinbits maintains confidence that the custodian “still has enough bitcoin [...]

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Nevada’s Financial Watchdog Seeks Receivership of Crypto Custodian Prime Trust Amidst Insolvency Concerns

In a recent submission to the Eighth Judicial District Court in Las Vegas, the Nevada Financial Institutions Division has expressed its intention to take decisive action against the crypto custodian Prime Trust. The regulatory body seeks to not only shut down Prime Trust but also swiftly seize its property, assets, books, papers, documents, and records.

The post Nevada’s Financial Watchdog Seeks Receivership of Crypto Custodian Prime Trust Amidst Insolvency Concerns appeared first on BTC Ethereum Crypto Currency Blog.

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Study Shows Bank of England’s Rising Interest Rates Threaten 1.2 Million UK Households With Insolvency

The Bank of England made an impactful move last Thursday, June 22, 2023, as it raised the benchmark bank rate to 5%, marking a significant 0.5 percentage point increase. This decision catapults the central bank’s rate to its highest level since 2008 and represents the most substantial surge in three months. Coinciding with this development, [...]

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Bankrupt Crypto Exchange FTX Continues to Explore Potential Relaunch, Court Records Reveal

Recently submitted court records in the FTX insolvency case reveal that the exchange’s new CEO, John Ray III, has been exploring a revival plan for the now-disabled trading platform and the “preliminary formation of restructuring strategies.” FTX’s Revival Prospects Surface as New CEO Explores Reboot Plans and Bidder List The current CEO and main restructuring [...]

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Bank of England halts Silicon Valley Bank UK branch operations

The Bank of England has ordered the Silicon Valley Bank's UK branch to halt its operations as it has limited presence and no critical functions supporting the financial system. The bank will be placed into a Bank Insolvency Procedure, and eligible depositors will be paid out by the Financial Services Compensation Scheme up to the protected limit of £85,000, with the remaining assets and liabilities being managed by bank liquidators. UK venture capitalists and a nonprofit organization have expressed concern as several startups and investors have significant exposure to the SVB UK, including prominent blockchain VCs who have over $6 billion in assets at the bank. (Read More)

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Top 3 RISKY Cryptos…Those can Fly High, but also Crash HARD!

What are the riskiest cryptocurrencies to invest in? Let's talk about the top 3 risky cryptos that you should be aware of.

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Is Crypto Exchange Huobi on the Verge of Insolvency?

Is Crypto exchange Huobi on the verge of insolvency? Let's take a look at it in more detail.

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CoinList addresses 'FUD' on withdrawals, cites technical issues for delays

CoinList blamed “custodian issues” with one suffering an outage affecting “many tokens” on the platform as the reason for reported withdrawal problems.

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FTX is done — What’s next for Bitcoin, altcoins and crypto in general?

FTX is gone, and it looks like many centralized crypto platforms will fall with it. But is there a silver lining?

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Sequoia Capital marks down entire $214M FTX stake to zero

The venture capital firm assured partners it ran a rigorous due diligence assessment when it invested in FTX, finding the exchange to generate $1 billion in revenue and $250 million in operating income.

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FTT Tanks 28% as FTX Exchange Struggles to Process Withdrawals

FTXs FTT exchange token has fallen to its lowest level since early 2021. FTT Token Breaks Support FTX is experiencing a bank run, and its FTT exchange token is suffering....

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SBF Denies Insolvency Rumours of FTX, FTT Token Slumps Over 6% during Intraday

FTX CEO Sam Bankman-Fried retreated his crypto exchange and assets are fine, trying to boost confidence to his investors, as speculation mounted over the weekend about the solvency of the exchange. (Read More)

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Hodlnaut Cuts Staff as Terra Exposure Is Revealed

Hodlnaut’s judicial management process has revealed exposure to Terra, while the firm has decided to lay off employees. Hodlnaut Proceedings Continue Hodlnaut is cleaning house as it continues its recovery...

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German Exchange Nuri Files for Insolvency

Nuri, a German crypto exchange previously known as Bitwala, has filed for insolvency due to poor market conditions. Nuri Declares Insolvency Nuri filed for insolvency today, August 9. Unlike some...

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Contagion: Genesis faces huge losses, BlockFi's $1B loan, Celsius's risky model

A leaked investor call from Morgan Creek Digital suggests BlockFi liquidated 3AC for $1 billion, while Celsius reportedly maintained a highly risky assets-to-equity ratio last year that may have caused its recent liquidity woes.

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CoinFLEX Follows Celsius in Suspending Withdrawals

Crypto exchange CoinFLEX has paused withdrawals, adding to a growing list of crypto firms limiting their services. CoinFLEX Suspends Withdrawals In a statement today, CoinFLEX cited “extreme market conditions last...

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Nexo Circles Celsius for Potential Loan Asset Buyout

The crypto lender Nexo has sent an official letter of intent to Celsius, offering to buy some or all of its collateralized loan assets to secure sufficient liquidity for its...

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Fed, central banks enhance ‘swap lines’ to combat banking crisis

The United States Federal Reserve has announced a coordinated effort with five other central banks aimed at keeping the U.S. dollar flowing amid a series of banking blowups in the U.S. and in Europe. The March 19 announcement from the U.S. Fed comes only a few hours after Swiss-based bank Credit Suisse was bought out [...]

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