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Before crypto crash, Alameda had invested $1.15 billion in crypto mining firm Genesis Digital

Alameda, Sam Bankman-Fried’s venture firm, had invested over $1.15 billion in the crypto mining firm Genesis Digital, according to a recent report from Bloomberg. These investments date back to before the crypto crash, a time when Sam Bankman-Fried and his companies, namely FTX, Alameda Research, and more, were doing particularly well. Based on the company’s […]

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Vyacheslav Taran, a Russian crypto billionaire, dies in a helicopter crash

Russian crypto billionaire Vyacheslav Taran breathed his last as the Libertex president was caught in a helicopter crash in France. The accident has been deemed mysterious by multiple reports as it is in line with other crypto executive deaths who perished under mysterious circumstances. The 53-year-old crypto businessman was the founder of Libertex Group and […]

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After FTX and BlockFi, crypto exchange Bitfront shuts down business

Bitfront, an American cryptocurrency exchange, shuts down new sign-ups and payments. The firm is expected to stop all proceedings within a few months. This move comes despite multiple efforts in keeping the firm relevant in the digital currency industry. Currently, the crypto industry is facing a meltdown as multiple companies shut down their business following […]

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Amidst spreading contagion, crypto firm BlockFi files for bankruptcy

Massive crypto firm FTX dramatically came to an end earlier this month. Its owner, crypto billionaire Sam Bankman-Fried, went from being an essential name in the industry to a man convicted of multiple frauds. This downfall has massively affected the crypto market. Multiple investors are pulling out of the industry as they fear more companies […]

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Binance allocates another $1 billion to crypto recovery

Binance CEO Changpeng “CZ” Zhao recently announced that the firm will allocate $1 billion to help faltering crypto companies regain their market. The fall of FTX earlier this month came as a blow to the digital currency market. Crypto billionaire Sam Bankman-Fried’s crypto exchange firm came crashing down as he was convicted of multiple violations […]

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Binance to spend $1 billion to prevent crypto’s downward spiral

Binance, one of the most prominent cryptocurrency exchanges, announced that it will invest $1 billion behind a recovery fund to prevent crypto’s downfall following the FTX’s crash. Changpeng Zhao “CZ”, Binance’s CEO, made the announcement this Thursday. CZ made a public announcement and showed his bitcoin balance to prove the fact. He has around $1 […]

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Wall Street Banks Might Not Step in to Save Crypto Firms

Wall Street Banks might not step in and save crypto firms from the ongoing dilemma in the digital currency market, according to reports published by some analysts. The cryptocurrency market is an existential threat to the banking industry as it seeks to replace the commodity they deal with — fiat currencies. Thus, the step might […]

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Crypto brokerage Genesis suspends withdrawals, experts concerned about DCG’s health

Major crypto brokerage firm Genesis has suspended withdrawals, hinting at the next major meltdown in the crypto space. Genesis is owned by a massive player in the market, Digital Currency Group (DCG). This move has raised concerns about the company’s health, and multiple experts are drawing similarities between DCG and the Bahamas-based crypto conglomerate, FTX’s […]

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Luna Burned Through $2.8 Billion Trying to Defend UST’s Dollar Peg: Recent Audit

Luna Foundation Guard (LFG), the company behind Terra, had spent over $2.8 billion worth of crypto assets to try and defend the algorithmic stablecoin TerraUSD (UST) back in May 2022. A third-party Jericho-based auditing firm, JS Held, found out recently. In addition, Terraform Labs (TFL), another entity behind TerraUSD and other tokens in the Terra […]

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Nike launches new Web3-powered platform titled ‘Dot Swoosh’

Nike, a global icon in the footwear and apparel space, has announced its move into the crypto and non-fungible token (NFT) world with the launch of its new Web3-powered platform called ‘Dot Swoosh’, stylized as ‘.SWOOSH’. This new platform was launched this Monday and is mostly targeted toward promoting the products of the Oregon-based footwear […]

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