New York’s Met Museum Agrees to Return $550K in FTX Donations
The Metropolitan Museum of Art in New York City has decided to refund $550,000 in donations it received from the now-bankrupt crypto exchange, FTX. The museum made this decision known in a document submitted on June 2 to the US Bankruptcy Court in Delaware, where FTX initiated its bankruptcy proceedings. The museum’s choice to return […]
Crypto Asset Classification: CFTC Chair vs. Former Commissioner
On crypto classification, ex-CFTC Commissioner Dan Berkowitz speaks on cryptocurrency community Asset Status. Gary Gensler, chairman of the Securities and Exchange Commission, believes all are securities with investment contracts. Using Ethereum as an example, he stated there is a “special case” where something can be both. “It can be a commodity under the CEA [Commodity […]
FTX sues Genesis, Affiliate, for $3.9 Billion
FTX claims that Genesis and GGC International owes it $3.9 billion in cash and cryptocurrency for loans and withdrawals made prior to the exchange’s collapse. The crypto exchange FTX, which filed for Chapter 11 bankruptcy in November 2021, is attempting to recover $3.9 billion in cash and cryptocurrency from Genesis Global Capital and its non-bankrupt […]
OTPP writes off $95 million crypto investment after FTX collapse
OTPP has written off its $95 million investment in FTX, a crypto exchange that went bankrupt amid fraud allegations and a liquidity crisis. The fund said it invested $95 million in FTX through its Teachers’ Venture Growth platform, representing less than 0.05% of its net assets. The Ontario Teachers Pension Plan (OTPP) was among the prominent […]
All you need to know about Crypto Trading with Leverage
Crypto traders use leverage to enhance their cryptocurrency position by borrowing funds from a broker or exchange. This article covers all you need to know about leveraged crypto trading. Despite the backlash, several cryptocurrency exchanges continue to provide traders with the option of using leverage when trading. Leveraged trading existed long before cryptocurrencies did. Nonetheless, […]