Genesis crypto lending unit files for U.S. bankruptcy

The lending unit of crypto firm Genesis filed on Thursday for U.S. bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi. Genesis Global Capital, one of the largest crypto lenders, froze customer redemptions on November 16 after FTX stunned the financial world with its bankruptcy,… Read More Genesis crypto lending unit files for U.S. bankruptcy

French central bank chief Francois Villeroy de Galhau calls for global crypto regulation as FTX files for bankruptcy

Collapsed crypto exchange FTX outlined a “severe liquidity crisis” in official bankruptcy filings released on Tuesday, as regulators opened probes and called for the faster implementation of rules for the hamstrung industry. FTX’s filing to a U.S. bankruptcy court said it was in contact with financial regulators and had appointed five new independent directors at… Read More French central bank chief Francois Villeroy de Galhau calls for global crypto regulation as FTX files for bankruptcy

BitOasis partners with Mastercard for crypto-linked cards

BitOasis, a Middle East-focused cryptocurrency exchange based in the United Arab Emirates, said on Tuesday it had signed an agreement with Mastercard to launch payment cards linked to cryptocurrencies, they said in a joint statement. The cards will allow BitOasis customers in the Middle East and North Africa to make purchases at points of sale… Read More BitOasis partners with Mastercard for crypto-linked cards

Man files $258billion lawsuit against Elon Musk over alleged Dogecoin pyramid scheme

Elon Musk was sued for $258 billion on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency. In a complaint filed in federal court in Manhattan, plaintiff Keith Johnson accused Musk, electric car company Tesla Inc and space tourism company SpaceX of racketeering for touting Dogecoin and… Read More Man files $258billion lawsuit against Elon Musk over alleged Dogecoin pyramid scheme

Central African Republic to launch cryptocurrency investment hub

Central African Republic will launch the continent’s first legal cryptocurrency investment hub, the presidency said, extending the impoverished country’s embrace of digital finance despite words of caution from the International Monetary Fund. Marred by decades of conflict, Central African Republic last month became the first country in Africa and only the second in the world… Read More Central African Republic to launch cryptocurrency investment hub

Cryptocurrencies record massive losses following stablecoin collapse

Cryptocurrencies nursed large losses on Friday, with bitcoin trading near $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. Sentiment is particularly fragile,… Read More Cryptocurrencies record massive losses following stablecoin collapse

Hundreds protest against adoption of Bitcoin as legal tender in El Salvador

More than 1,000 people marched in El Salvador’s capital on Tuesday to protest the adoption of bitcoin as legal tender, amid a bumpy initial rollout of systems to support the digital currency. The protesters burned a tire and set off fireworks in front of the Supreme Court building around noon local time, as the government… Read More Hundreds protest against adoption of Bitcoin as legal tender in El Salvador

SpaceX accepts dogecoin as payment for lunar mission next year

SpaceX will launch the “DOGE-1 Mission to the Moon” in the first quarter of next year, with Elon Musk’s commercial rocket company accepting the meme-inspired cryptocurrency dogecoin as payment. Geometric Energy Corporation announced the dogecoin-funded mission on Sunday, with the statement not disclosing the mission’s financial value. “We’re excited to launch DOGE-1 to the Moon!”,… Read More SpaceX accepts dogecoin as payment for lunar mission next year