A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team. In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises from the team, it “did not have a…
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Business intelligence firm MicroStrategy — one of the largest corporate holders of Bitcoin (BTC) in the United States — managed to return to profitability in the second quarter amid a surge in the price of Bitcoin. In a Q2 earnings results filing posted on Aug. 1, MicroStrategy reported $22.2 million in net income, a massive…
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Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the United States. In an Aug. 1 filing with the U.S. Bankruptcy Court for the Southern District of New York, Davies provided notarized and apostilled copies of…
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Bitcoin miner Genesis Digital Assets (GDA) announced on Aug. 1 that it has launched three new data centers in the U.S. state of South Carolina. The facilities came online in February and March. The facilities are located in the western part of the state, with the first opening in the town of Anderson on the…
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Bitcoin (BTC) surpassed the $30,000 resistance on June 21, or 40 days ago, after a notable 19.5% gain in a week. Since then, it has been moving within a range filled with occasional moderate corrections and BTC price trades near $29,300. While these consolidation periods are common in traditional markets, they tend to make crypto…
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Episode 11 of Cointelegraph’s Crypto Trading Secrets podcast is now live, welcoming crypto trader Mohit Sorout for an interview that took place on July 21. Host Benjamin Pirus asked Sorout several questions, including one regarding Bitcoin’s (BTC) future and what scenario, if any, could lead to its extinction. Sorout suggested two different possibilities. According to…
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Bitcoin (BTC) faces a “breakdown” and distribution despite a new macroeconomic paradigm being around the corner. That was one of the conclusions of quantitative Bitcoin and digital asset fund Capriole Investments, which, in its latest update, warned that Bitcoin was “not yet” ready to flip bullish. Capriole: Bitcoin fundamentals say “not yet” United States equities…
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A judge in the bankruptcy case for defunct crypto exchange FTX has issued an order allowing Terraform Labs to subpoena information that could be used in its case brought by the United States Securities and Exchange Commission (SEC). In a July 31 filing in U.S. Bankruptcy Court for the District of Delaware, Judge John Dorsey…
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Decentralized finance (DeFi) platform SushiSwap is set to integrate with the growing blockchain protocol, Core, tapping into the protocol’s unique consensus mechanism to provide a broad set of DeFi services to its cross-chain functionality. The integration is touted to increase the possibilities for developers building within the Core ecosystem, with decentralized applications built on the…
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FTX.com has outlined its intended re-organization plan that will categorize claimants of the bankrupt exchange into specific classes and pave the way for the exchange to become re-operational as an offshore entity. Dockets filed on July 31 include a draft plan of reorganization that outlines the company’s intended path to settle an “exceptionally large and…
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