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According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake.

Genesis Global secures court approval for $3B payout

Bankrupt cryptocurrency lender Genesis Global has secured court approval to return about $3 billion in cash and cryptocurrency to its creditors. This decision leaves its parent company, Digital ...

3 months ago

The company could be fined as much as 1% of its annual revenue if it doesn’t respond by May 27.

Microsoft faces multibillion-dollar fine in EU over Bing AI

Microsoft could be fined up to 1% of its annual revenue in the European Union if it doesn’t respond to a request for information by May 27. The threat stems from a request ...

3 months ago

The company’s head of alignment, Jan Leike, resigned on May 17, stating they’d reached a “breaking point” with management.

OpenAI leadership responds to former employee safety allegations

Sam Altman and Greg Brockman, the CEO and president of ChatGPT maker OpenAI, respectively, recently took to X.com to publicly discuss the recent departure of Jan Leike, arguably the company&rsqu...

3 months ago

It was speculated that Gensler’s vote secured the launch of spot Bitcoin ETFs in January — and the same five commissioners are set to vote on Ether ETFs this week.

Spot Ether ETFs will come down to a 5-person vote: Gensler the decider?

The fate of spot Ether exchange-traded funds could be decided this week by a single vote from Gary Gensler, the chair of the United States Securities and Exchange Commission — if hist...

3 months ago

“Not all creditor repayments are bearish,” said K33’s analysts, noting FTX's cash payouts versus the crypto repayments from Gemini and Mt. Gox.

FTX repayments could create ‘bullish overhang’ for crypto markets — K33 Research

Slated cash repayments to FTX creditors could create a wave of bullish “buying pressure” in the crypto market, says K33 Research analysts. FTX is set to pay a minimum of&nb...

4 months ago

The transfer of the bankruptcy claim from FTX EU to FTXcreditor could have a significant impact on stakeholders.

Small creditors put at risk by latest FTX bankruptcy development

A significant claim against FTX EU — previously known as K-DNA Financial Services —has been transferred to FTXcreditor in the latest development in the FTX bankruptcy case. The trans...

4 months ago

International hedge fund Millennium Management has reported it holds $1.94 billion across five different spot Bitcoin ETF products.

Millennium Management discloses $2B in Bitcoin ETF holdings

International hedge fund Millennium Management has revealed it holds nearly $2 billion in spot Bitcoin exchange-traded-funds (ETFs) as of the first quarter of 2024. Millennium he...

4 months ago

Robinhood Crypto has chosen Europe to launch its first staking product, offering customers Solana staking with a 5% yield at launch.

Robinhood rolls out SOL staking to European markets

Trading platform Robinhood is targeting European users to expand its crypto services as legal challenges loom in the United States. On May 15, the company announced its first crypto-staking prod...

4 months ago

The program has added five startups and will trial various payment technologies ranging from blockchain to Web3.

Mastercard launches ‘next generation’ of blockchain payments startup program

Fintech giant Mastercard announced on May 15 that five new startups have joined its Start Path Blockchain and Digital Assets program. The Start Path Blockchain and Digital Assets...

4 months ago

The SEC’s proposed crypto custody rule and its “hostility” to the industry isn’t in Joe Biden’s “best interests,” Representative Wiley Nickel told Gary Gensler.

SEC custody rule made crypto regulation a ‘political football’ — Rep. Nickel

The United States securities regulator has turned crypto regulation into a “political football,” and its “open hostility” isn’t helping President Joe Biden, says Re...

4 months ago