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Demand for Arbitration Filed Against Genesis Global Capital, DCG — Firm Accused of ‘Ochestrating a Sham Transaction’

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Three Gemini Earn users have accused Genesis Global Capital of breaching a contract and have subsequently filed a demand for class arbitration with the American Arbitration Association. In addition, the three users assert that all transactions “constituted unregistered sales of securities”…

Report Shows Financial Troubles Plagued Bankman-Fried’s Alameda Research as Early as 2018

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Before FTX collapsed it was assumed that Alameda Research was one of the top quantitative trading firms and market makers within the industry. However, much of that perception may have been a facade as a recent report details that Alameda suffered…

FTX Co-Founder Faces ‘No-Nonsense’ Judge Next Week, Report Says SBF ‘Expected to Enter a Plea’ in Fraud Case

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According to court documents, Sam Bankman-Fried (SBF) is set to be arraigned by the federal court in the Southern District of New York (SDNY) on Jan. 3, 2023. The disgraced FTX co-founder plans to enter a plea in his fraud case…

Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group

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This week two cryptocurrency exchanges provided proof-of-reserves in order to highlight that the trading platforms are backing customer assets 1:1. Binance published its report on Dec. 7, 2022, and detailed the global auditor Mazars Group conducted the audit. On Dec. 9,…

Report: Deleted Files Indicate Crypto Lender Hodlnaut’s Execs Gave Little Weight to Terra Luna Exposure

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According to a report, the embattled crypto lender Hodlnaut saw a significant loss from the Terra blockchain collapse last May. The report notes that Hodlnaut downplayed the company’s exposure to the Terra ecosystem and allegedly lost $190 million from the incident….

IMF Bailout Could Be in UK’s Future, Says Strategist

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Mizuho Securities’ head of global macro strategies has warned that an IMF bailout may be in the U.K.’s future. Moreover, a former chancellor of the exchequer cautioned that Britain is entering a long and severe recession, emphasizing that it’s “the worst…

Social Media Users Deride China’s Reported Use of Military Tanks to Intimidate Protesting Bank Customers

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Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue…

Marathon Secures 254 Megawatts to Bolster Company’s 2023 Bitcoin Mining Goals

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The bitcoin mining operation Marathon has announced the company has secured 254 megawatts of new hosting deals with the option to increase to 324 megawatts (MW). Marathon’s latest expansion deals should support the bitcoin mining firm’s intended goal of securing approximately…

‘Unprecedented Opportunities’ — Cleanspark Acquires 1,061 Bitcoin Miners at a ‘Discounted Price’

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On Thursday, the publicly-listed bitcoin mining firm Cleanspark announced that it added 93 petahash per second (PH/s) of hashpower to the company’s existing operations by acquiring 1,061 Whatsminer M30S bitcoin mining rigs. The latest ASIC acquisition follows Cleanspark’s recent purchase contract…

100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao’s Stablecoin Vault

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Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a governance proposal that provides “collateral integration from a U.S.-based bank.” The Makerdao governance proposal passed by a majority vote of more than 87%, and it gives the U.S….