Juno advises users to withdraw funds due to custody concerns
Cryptocurrency platform Juno has advised customers to use self-custody techniques due to “uncertainty” with its custodian partner. Due to “uncertainty” with its partner, the cryptocurrency company Juno encouraged customers to withdraw their funds and deposit them in self-custody wallets or sell their holdings for cash. The company intends to resolve the issues by hiring a […]
Genesis reduces staff and considers bankruptcy: WSJ
According to recent reports, the cryptocurrency lending company Genesis is mulling the possibility of filing for bankruptcy. According to a WSJ report from January 5 that cited “people familiar with the matter,” Genesis is considering declaring bankruptcy and has let go of about 30% of its workers. There were 145 people left at the company […]
FTX clients demand more transparency about subsidiary sales
FTX customers claim they should be included in the sales process to guarantee their interests are reflected and have filed a limited objection to FTX’s plan to sell four independently run companies. An ad hoc committee of non-U.S. customers, consisting of 18 members, who have combined claims against FTX totaling more than $1.9 billion, submitted […]
US to seize Robinhood shares related to FTX
US authorities are in the process of seizing Robinhood Markets Inc (HOOD.O) shares tied to Sam Bankman-Fried, who is accused of fraud in the collapse of FTX. According to US attorney Seth Shapiro, who is in charge of the FTX bankruptcy, the DOJ did not think the 56 million shares of Robinhood, valued at around […]
Former Bithumb Chairman Lee Jung-Hoon acquitted in first case
The former chair has been acquitted of the allegations of defrauding the company of $70 million during the purchase of Bithumb. The 34th Division of the Criminal Agreement of the Seoul Central District Court rendered a not-guilty verdict on January 3 against Lee Jung-hoon, the former chair of the South Korean bitcoin exchange Bithumb. Due […]