Terraform Labs Files for Chapter 11 Bankruptcy Protection
Do Kwon’s Terraform Labs has initiated the process of Chapter 11 bankruptcy protection in the United States; the firm claims to have between $100 million and $500 million in estimated assets and liabilities. A January 21 filing with the United States Bankruptcy Court for the District of Delaware stated that the company had petitioned for […]
Binance – SEC Court Hearing Postponed
A snowstorm in the region has caused the United States Securities and Exchange Commission (SEC) and leading cryptocurrency exchange Binance to postpone their previously scheduled court hearing. The U.S. securities regulator filed suit against Binance on June 5, 2023, alleging violations such as illegal operations within the United States and consumer deception. Additionally, Binance faced […]
AI to Market Businesses by 2029 – DeepMind Co-founder
DeepMind co-founder and Inflection AI CEO Mustafa Suleyman believes the next five years will be a turning point in the business world as tech will be widely available and very cheap. Ahead of 2030, the artificial intelligence (AI) pioneer stated during a panel discussion at the World Economic Forum that he believed an AI system […]
Appeal Court Orders Appointment of Independent Examiner for FTX
The United States Court of Appeals for the Third Circuit ordered the judge supervising the bankruptcy of cryptocurrency exchange FTX to appoint an independent examiner months after the initial filing. Three judges of the Third Circuit reversed a ruling by Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware on January […]
Google to Build $1B Data Center in UK Amid Layoffs
Google recently declared its intention to construct a data center near London costing $1 billion as an ongoing effort to extend its presence in the United Kingdom. The organization’s new data center will support Google Cloud, YouTube, Google Search, and Google Maps. The new 33-acre site, according to Google, will employ both construction laborers and […]