Gnosis(GNO)

People should ignore NFTs offering SHIB reward, "Shib Informer" said.

BTC price strength marches on despite the curveball CPI print and FTX liquidation go-ahead, and Bitcoin traders are hopeful for long opportunities.

According to LayerZero’s CEO, FTX’s accusations are unfounded and ignore previous attempts by his company to smooth things over.

With no new inflows into the crypto market bitcoin is slowly sinking. An impulse is needed from somewhere if bitcoin is to gain new momentum. Sinking lower Bitcoin is very much still below its daily and weekly moving averages, indicators that are pointing to further downside unless something fairly momentous pushes the price back above. Bitcoin has found some support at the $26,000 level, but is currently pushing steadily against this. A break here is likely to see the price drop down to major support at $24,000, and possibly to $21,000, $19,000, and even back to the lows. One thing is looking much more certain for this bitcoin bull market, and that is the cycle is lengthening. Declining returns is another factor. Some analysts are pointing to how bitcoin is making less gains with each succeeding bull market. With this in mind, it might be likely that bitcoin only gets as far as $100k this bull market. Perhaps a blow-off top could take it to $150k, but when you look at percentage gains for previous bull markets, this potential best-case scenario is only a 6x from here. Therefore, bitcoin could certainly take its time and drop lower from here. Is this a bad thing? For those looking to make a fast buck, yes. But for those looking for long term gains and a reliable store of value outside of the legacy monetary system, lower prices mean being able to buy more. However, as always in markets, the least expected route is the one that may well be followed. There are factors that are bubbling away in the background that could change bitcoin’s trajectory in an extremely decisive way. Momentum can be regained Not least among these is the impending decision for a bitcoin spot ETF. This coming Friday, the SEC has to make its decision on whether 6 large and influential institutions will be granted the capacity to launch their own spot ETFs, and by doing so, provide the rocket fuel to propel bitcoin out of its current doldrums. Of course, the SEC could just decide to put the decision back, so this particular impulse may have to wait until perhaps early next year. Another way around this may come from the D.C. Circuit Court of Appeals, which is due to decide on Grayscale vs SEC. Should this go in Grayscale’s favour, the SEC could be obliged to approve a spot ETF given that it has already approved several futures ETFs. Whether up, down, or sideways, bitcoin is the asset of the future that provides an alternative to our deeply unfair and corrupt monetary system. The largest institutions are coming to this realisation - it is to be hoped that the common man and woman can also manage to ignore the mainstream media misdirection. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

With no new inflows into the crypto market bitcoin is slowly sinking. An impulse is needed from somewhere if bitcoin is to gain new momentum. Sinking lower Bitcoin is very much still below its daily and weekly moving averages, indicators that are pointing to further downside unless something fairly momentous pushes the price back above. Bitcoin has found some support at the $26,000 level, but is currently pushing steadily against this. A break here is likely to see the price drop down to major support at $24,000, and possibly to $21,000, $19,000, and even back to the lows. One thing is looking much more certain for this bitcoin bull market, and that is the cycle is lengthening. Declining returns is another factor. Some analysts are pointing to how bitcoin is making less gains with each succeeding bull market. With this in mind, it might be likely that bitcoin only gets as far as $100k this bull market. Perhaps a blow-off top could take it to $150k, but when you look at percentage gains for previous bull markets, this potential best-case scenario is only a 6x from here. Therefore, bitcoin could certainly take its time and drop lower from here. Is this a bad thing? For those looking to make a fast buck, yes. But for those looking for long term gains and a reliable store of value outside of the legacy monetary system, lower prices mean being able to buy more. However, as always in markets, the least expected route is the one that may well be followed. There are factors that are bubbling away in the background that could change bitcoin’s trajectory in an extremely decisive way. Momentum can be regained Not least among these is the impending decision for a bitcoin spot ETF. This coming Friday, the SEC has to make its decision on whether 6 large and influential institutions will be granted the capacity to launch their own spot ETFs, and by doing so, provide the rocket fuel to propel bitcoin out of its current doldrums. Of course, the SEC could just decide to put the decision back, so this particular impulse may have to wait until perhaps early next year. Another way around this may come from the D.C. Circuit Court of Appeals, which is due to decide on Grayscale vs SEC. Should this go in Grayscale’s favour, the SEC could be obliged to approve a spot ETF given that it has already approved several futures ETFs. Whether up, down, or sideways, bitcoin is the asset of the future that provides an alternative to our deeply unfair and corrupt monetary system. The largest institutions are coming to this realisation - it is to be hoped that the common man and woman can also manage to ignore the mainstream media misdirection. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Ethereum automated market maker (AMM) Balancer, has put out an official disclosure to confirm that it had been exploited for approximately $900,000 (USD). The news comes just days after the decentralized finance protocol highlighted a vulnerability affecting several of its pools. Blockchain security expert Meier Dolev identified an Ethereum address believed to belong to the alleged attacker. Subsequent to the exploit, this address received two transfers of the Dai (DAI) stablecoin, amounting to $636,812 and $257,527 respectively. According to Dolev, the account affected over $893,978 in balance. Through a statement on the social platform X, formerly known as Twitter, the Balancer team acknowledged the situation. They stated, “Balancer is aware of an exploit related to the vulnerability below.” Although they had implemented mitigation measures that significantly lowered the associated risks, they were unable to halt the affected pools. As a precautionary measure, the team urged users to withdraw from the compromised liquidity providers (LPs). The attacker continues with his operation, approx $900K affected, more than $600K moved to this address0xB23711b9D92C0f1c7b211c4E2DC69791c2df38c1 pic.twitter.com/inNqH4zel2 — Meir Dolev (@Meir_Dv) August 27, 2023 Previously, on August 22,Balancer had reported a critical vulnerability impacting its boosted pools. The platform had implored users to remove their funds from LPs and initiated a pause on pools to minimize potential harm. Assets that were under threat spanned various platforms including Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom, and zkEVM (from Polygon). Upon the revelation of the vulnerability, merely 1.4% or over $5 million of Balancer's entire assets were at jeopardy. However, by August 24, an estimated $2.8 million, which constitutes 0.42% of its total value locked, was still exposed. The platform had issued a warning on X, advising its users: “We believe funds in the mitigated pools (labeled ‘mitigated’) are safe, but still strongly recommend timely migration to safe pools, or withdrawal. Pools that were unable to be fortified are marked ’at risk’. If you participate as an LP in any of these pools, it is advised to exit immediately.” Balancer had transitioned to the Optimism network in June the previous year with the intent of amplifying user functionality and diminishing transaction costs. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Ethereum automated market maker (AMM) Balancer, has put out an official disclosure to confirm that it had been exploited for approximately $900,000 (USD). The news comes just days after the decentralized finance protocol highlighted a vulnerability affecting several of its pools. Blockchain security expert Meier Dolev identified an Ethereum address believed to belong to the alleged attacker. Subsequent to the exploit, this address received two transfers of the Dai (DAI) stablecoin, amounting to $636,812 and $257,527 respectively. According to Dolev, the account affected over $893,978 in balance. Through a statement on the social platform X, formerly known as Twitter, the Balancer team acknowledged the situation. They stated, “Balancer is aware of an exploit related to the vulnerability below.” Although they had implemented mitigation measures that significantly lowered the associated risks, they were unable to halt the affected pools. As a precautionary measure, the team urged users to withdraw from the compromised liquidity providers (LPs). The attacker continues with his operation, approx $900K affected, more than $600K moved to this address0xB23711b9D92C0f1c7b211c4E2DC69791c2df38c1 pic.twitter.com/inNqH4zel2 — Meir Dolev (@Meir_Dv) August 27, 2023 Previously, on August 22,Balancer had reported a critical vulnerability impacting its boosted pools. The platform had implored users to remove their funds from LPs and initiated a pause on pools to minimize potential harm. Assets that were under threat spanned various platforms including Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom, and zkEVM (from Polygon). Upon the revelation of the vulnerability, merely 1.4% or over $5 million of Balancer's entire assets were at jeopardy. However, by August 24, an estimated $2.8 million, which constitutes 0.42% of its total value locked, was still exposed. The platform had issued a warning on X, advising its users: “We believe funds in the mitigated pools (labeled ‘mitigated’) are safe, but still strongly recommend timely migration to safe pools, or withdrawal. Pools that were unable to be fortified are marked ’at risk’. If you participate as an LP in any of these pools, it is advised to exit immediately.” Balancer had transitioned to the Optimism network in June the previous year with the intent of amplifying user functionality and diminishing transaction costs. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The founder of dYdZX argued that early-stage crypto projects can scale faster by ignoring U.S. customers, as they won't have to deal with the hassles of the U.S. regulatory climate.

Dymension, the startup building out an interconnected network of modular blockchains called RollApps, will launch its incentivized testnet by the end of this month, enabling developers to interact with its IBC-compatible rollups for the first time and start building more scalable dApps. Using the testnet, developers will be able to deploy RollApps easily using Dymension’s command line tool Roller. The startup said the deployment of its testnet was made possible by a collaboration with the data-focused networks Avail and Celestia, and enables builders to create their first RollApps using customizable virtual machines including the Ethereum Virtual Machine. Dymension is all about bringing scalability to the Web3 world through the use of application-specific rollups, which are based on the same scaling technology that’s used by so-called Layer-2 networks like Polygon, Avalanche, Fuel and Boba Network. What’s different about Dymension’s RollApps is that they’re the only one of their kind that provide full compatibility with IBC and the Cosmos ecosystem out of the box. They’re also data-agnostic thanks to their ability to connect to any data availability network. Although Dymension is competing in a very competitive niche, the potential of its technology is widely regarded. Earlier this year, the startup was able to raise $6.7 million in a funding round led by Big Brain Holdings and Stratos, with participation from DraftKings’ Shalom Meckenzie and DAO matchbox. Dymension has ambitions to accelerate Web3’s growth by helping developers to shift away from Ethereum and its scaling constraints. Dymension’s incentivized testnet follows the successful implementation of its devnet in June, where more than 500 RollApps were deployed by early adopters. Each of those RollApps is connected to the Dymension Hub to provide a secure and reliable bridge to the IBC ecosystem. With RollApps, the task of achieving consensus is delegated to Dymension Hub, paving the way for highly secure and super-fast blockchains with a sub 0.2 seconds transaction finality. The Dymension Hub handles all aspects of interoperability, vastly simplifying the process of interacting with RollApps to enable more cost-effective and scalable dApps. Its biggest impact comes in terms of reducing the infrastructure costs associated with the deployment of dApps, Dymension said. Following the success of the devnet, Dymension says it’s confident that it can attract even more interest in its RollApps from the wider Cosmos and Ethereum ecosystems due to its unique status as the only rollup provider that offers IBC as a bridge. When the testnet launches, users will be able to interact with RollApps through the Dymension Portal, which is its primary web interface. From the portal, users can view various ecosystem statistics and bridge over IBC using the MetaMask wallet. Dymension said all RollApps deployed on the testnet will publish their data to Avail and Celestia, with Cosmos and Ethereum to be added in a future update. In addition, Dymension supports a choice of VMs, including EVM, CosmWasm and others. This overcomes another key limitation for developers, who have traditionally always had no choice but to use the standard VM of the ecosystem they’re building in. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Dymension, the startup building out an interconnected network of modular blockchains called RollApps, will launch its incentivized testnet by the end of this month, enabling developers to interact with its IBC-compatible rollups for the first time and start building more scalable dApps. Using the testnet, developers will be able to deploy RollApps easily using Dymension’s command line tool Roller. The startup said the deployment of its testnet was made possible by a collaboration with the data-focused networks Avail and Celestia, and enables builders to create their first RollApps using customizable virtual machines including the Ethereum Virtual Machine. Dymension is all about bringing scalability to the Web3 world through the use of application-specific rollups, which are based on the same scaling technology that’s used by so-called Layer-2 networks like Polygon, Avalanche, Fuel and Boba Network. What’s different about Dymension’s RollApps is that they’re the only one of their kind that provide full compatibility with IBC and the Cosmos ecosystem out of the box. They’re also data-agnostic thanks to their ability to connect to any data availability network. Although Dymension is competing in a very competitive niche, the potential of its technology is widely regarded. Earlier this year, the startup was able to raise $6.7 million in a funding round led by Big Brain Holdings and Stratos, with participation from DraftKings’ Shalom Meckenzie and DAO matchbox. Dymension has ambitions to accelerate Web3’s growth by helping developers to shift away from Ethereum and its scaling constraints. Dymension’s incentivized testnet follows the successful implementation of its devnet in June, where more than 500 RollApps were deployed by early adopters. Each of those RollApps is connected to the Dymension Hub to provide a secure and reliable bridge to the IBC ecosystem. With RollApps, the task of achieving consensus is delegated to Dymension Hub, paving the way for highly secure and super-fast blockchains with a sub 0.2 seconds transaction finality. The Dymension Hub handles all aspects of interoperability, vastly simplifying the process of interacting with RollApps to enable more cost-effective and scalable dApps. Its biggest impact comes in terms of reducing the infrastructure costs associated with the deployment of dApps, Dymension said. Following the success of the devnet, Dymension says it’s confident that it can attract even more interest in its RollApps from the wider Cosmos and Ethereum ecosystems due to its unique status as the only rollup provider that offers IBC as a bridge. When the testnet launches, users will be able to interact with RollApps through the Dymension Portal, which is its primary web interface. From the portal, users can view various ecosystem statistics and bridge over IBC using the MetaMask wallet. Dymension said all RollApps deployed on the testnet will publish their data to Avail and Celestia, with Cosmos and Ethereum to be added in a future update. In addition, Dymension supports a choice of VMs, including EVM, CosmWasm and others. This overcomes another key limitation for developers, who have traditionally always had no choice but to use the standard VM of the ecosystem they’re building in. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Citibank explores the potential of Central Bank Digital Currencies (CBDCs) to revamp securities settlements based on securities firms survey. CBDCs are digital currencies backed by national central banks, and have caught Citibank's attention due to their promise for quicker and more efficient settlements for securities firms. With securities transactions being a critical pillar of the global financial system, any improvement in settlement speed can have profound implications. CBDCs can potentially minimise delays, reduce costs, and mitigate the risks associated with traditional settlement methods. Citibank recognises the potential of CBDCs to transform not just securities but other facets of banking as well. Its move resonates with a broader trend where financial institutions globally are turning their attention to digital currencies, particularly CBDCs, to streamline operations and enhance customer experiences. However, while the prospects of CBDCs are promising, their full-scale implementation in securities settlements demands meticulous planning. Ensuring interoperability with existing systems, regulatory harmony, and the technological infrastructure to support vast transaction volumes are some areas that require thorough attention. Opinion The Citibank survey highlights some of the perceived advantages of a central bank being able to wield its own central bank digital currency (CBDC). Of course, what wouldn’t be a quicker settlement process than what already exists? The survey findings point to institutions turning to CBDCs as well as other digital currencies in order to improve their overall capabilities. However, the key with alternative digital currencies will be whether institutions will be allowed a choice. Global financial bodies and regulatory agencies are at last acknowledging the innovations brought to finance by cryptocurrencies, but this is always overshadowed by their perceived ‘risks’ to the financial and banking system. It needs to be made very clear. The only chance for the existing system, at least as far as governments and central banks are concerned, is a widespread implementation of CBDCs. Only with this kind of control will central banks be able to impose any kind of financial stricture they desire upon the citizenry. The total control this would bestow to a central bank would allow it to ‘switch off’ from the system any individuals who do not follow the bank’s rules. Many who might see this would perhaps think that this is a fantastical and dystopian future that can only be read about in science fiction books. Nevertheless, it can be seen that China has a social credit system already in place that allows the government to blacklist and punish individuals who do not toe the line. Given the unbelievably disastrous state of all fiat-based economies across the world, total control of finances by governments and their central banks must be put in place to extract the last wealth of the people in order to prolong the fiat monetary system. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Citibank explores the potential of Central Bank Digital Currencies (CBDCs) to revamp securities settlements based on securities firms survey. CBDCs are digital currencies backed by national central banks, and have caught Citibank's attention due to their promise for quicker and more efficient settlements for securities firms. With securities transactions being a critical pillar of the global financial system, any improvement in settlement speed can have profound implications. CBDCs can potentially minimise delays, reduce costs, and mitigate the risks associated with traditional settlement methods. Citibank recognises the potential of CBDCs to transform not just securities but other facets of banking as well. Its move resonates with a broader trend where financial institutions globally are turning their attention to digital currencies, particularly CBDCs, to streamline operations and enhance customer experiences. However, while the prospects of CBDCs are promising, their full-scale implementation in securities settlements demands meticulous planning. Ensuring interoperability with existing systems, regulatory harmony, and the technological infrastructure to support vast transaction volumes are some areas that require thorough attention. Opinion The Citibank survey highlights some of the perceived advantages of a central bank being able to wield its own central bank digital currency (CBDC). Of course, what wouldn’t be a quicker settlement process than what already exists? The survey findings point to institutions turning to CBDCs as well as other digital currencies in order to improve their overall capabilities. However, the key with alternative digital currencies will be whether institutions will be allowed a choice. Global financial bodies and regulatory agencies are at last acknowledging the innovations brought to finance by cryptocurrencies, but this is always overshadowed by their perceived ‘risks’ to the financial and banking system. It needs to be made very clear. The only chance for the existing system, at least as far as governments and central banks are concerned, is a widespread implementation of CBDCs. Only with this kind of control will central banks be able to impose any kind of financial stricture they desire upon the citizenry. The total control this would bestow to a central bank would allow it to ‘switch off’ from the system any individuals who do not follow the bank’s rules. Many who might see this would perhaps think that this is a fantastical and dystopian future that can only be read about in science fiction books. Nevertheless, it can be seen that China has a social credit system already in place that allows the government to blacklist and punish individuals who do not toe the line. Given the unbelievably disastrous state of all fiat-based economies across the world, total control of finances by governments and their central banks must be put in place to extract the last wealth of the people in order to prolong the fiat monetary system. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bankrupt crypto lender BlockFi is reportedly trying to block attempts by FTX and Three Arrows Capital (also bankrupt) to retrieve millions of dollars to pay back their creditors. BlockFi has claimed that, by its estimates, legal battles with FTX and Three Arrows Capital could cost its customers up to $1 billion. BlockFi Looks To Stop FTX And 3AC Repayment BlockFi claimed in a 21st August filing at the New Jersey bankruptcy court that its own creditors must not be pushed to the back of the line because FTX’s creditors were harmed thanks to the exchange allegedly misappropriating the $5 billion that BlockFi had initially lent it. In an attempt to safeguard the interest of its creditors, BlockFi has stated it will actively look to block attempts by FTX and Three Arrows Capital to claw back billions to pay off their own creditors. The crypto lender argued that its bankruptcy directly resulted from the fraud perpetrated by FTX and 3AC. BlockFi stated in its filing, “FTX seeks to recover on over $5 billion of claims filed against the BlockFi estates at the direct expense of the ultimate victims of FTX’s fraud: BlockFi’s clients and other legitimate creditors. To prevent further injustice to the creditors of BlockFi’s estates, the Court should disallow the FTX Claims under the doctrine of unclean hands.” FTX had also given $400 million to BlockFi in June 2022 in an attempt to remedy the situation. This was in addition to purchasing BlockFi equity pursuant to a loan agreement, the filing added. However, BlockFi has stated that this was not a standard loan agreement. Instead, the crypto lender has stated that it was an unsecured, 5-year term which was also well below market rates. It further added that repayments were not due until the firm would supposedly mature. BlockFi called FTX’s investment a gamble, one that BlockFi’s creditors should not be held liable for. BlockFi stated in its argument, “Just because FTX’s fraudulent actions caused FTX’s bet to fail does not mean BlockFi’s creditors are now somehow liable to refund the purchase price.” BlockFi Owes Billions To Creditors Several estimates have shown that BlockFi reportedly owes up to $10 billion to over 100,000 creditors. This figure includes $1 billion to three of its largest creditors and $220 million to bankrupt crypto hedge fund Three Arrows Capital. Three Arrows Capital’s creditors have reportedly expressed considerable frustration with the slow pace of bankruptcy proceedings. BlockFi has argued that Three Arrows Capital, like FTX, was not entitled to repayment and claimed that the crypto hedge fund used fraudulent means to borrow the funds. Three Arrows Capital had previously taken loans from BlockFi, on which it subsequently defaulted. This led to the foreclosure on the collateral, leading to what liquidators have described as a $220 million preferential payment to BlockFi. BlockFi’s creditors have also accused the company of ignoring several warnings and red flags when dealing with FTX and its sister concern Alameda Research, just months prior to the FTX collapse. The creditors claimed that the CEO of BlockFi ignored advice from BlockFi’s risk management team, which had stated that Alameda Research’s balance sheet primarily consisted of FTX’s own FTT token. However, the CEO dismissed such concerns and urged the risk management team to get comfortable with Alameda Research being a borrower similar to Three Arrows Capital. “As early as August 2021, BlockFi’s risk management team was advised that Alameda’s balance sheet was largely comprised of ‘~7bb unlocked FTT and 11bb total including locked tokens based on unaudited financials. This set off alarms at BlockFi. Mr. Prince dismissed the concerns, urging the risk team to learn to ‘get comfortable [with Alameda] being a three arrows size borrower, just with FTT and other collateral types instead of GBTC shares.” However, BlockFi’s creditors settled with the company last month on moving ahead with a repayment plan. BlockFi collapsed just weeks after FTX, filing for Chapter 11 bankruptcy on the 28th of November. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bankrupt crypto lender BlockFi is reportedly trying to block attempts by FTX and Three Arrows Capital (also bankrupt) to retrieve millions of dollars to pay back their creditors. BlockFi has claimed that, by its estimates, legal battles with FTX and Three Arrows Capital could cost its customers up to $1 billion. BlockFi Looks To Stop FTX And 3AC Repayment BlockFi claimed in a 21st August filing at the New Jersey bankruptcy court that its own creditors must not be pushed to the back of the line because FTX’s creditors were harmed thanks to the exchange allegedly misappropriating the $5 billion that BlockFi had initially lent it. In an attempt to safeguard the interest of its creditors, BlockFi has stated it will actively look to block attempts by FTX and Three Arrows Capital to claw back billions to pay off their own creditors. The crypto lender argued that its bankruptcy directly resulted from the fraud perpetrated by FTX and 3AC. BlockFi stated in its filing, “FTX seeks to recover on over $5 billion of claims filed against the BlockFi estates at the direct expense of the ultimate victims of FTX’s fraud: BlockFi’s clients and other legitimate creditors. To prevent further injustice to the creditors of BlockFi’s estates, the Court should disallow the FTX Claims under the doctrine of unclean hands.” FTX had also given $400 million to BlockFi in June 2022 in an attempt to remedy the situation. This was in addition to purchasing BlockFi equity pursuant to a loan agreement, the filing added. However, BlockFi has stated that this was not a standard loan agreement. Instead, the crypto lender has stated that it was an unsecured, 5-year term which was also well below market rates. It further added that repayments were not due until the firm would supposedly mature. BlockFi called FTX’s investment a gamble, one that BlockFi’s creditors should not be held liable for. BlockFi stated in its argument, “Just because FTX’s fraudulent actions caused FTX’s bet to fail does not mean BlockFi’s creditors are now somehow liable to refund the purchase price.” BlockFi Owes Billions To Creditors Several estimates have shown that BlockFi reportedly owes up to $10 billion to over 100,000 creditors. This figure includes $1 billion to three of its largest creditors and $220 million to bankrupt crypto hedge fund Three Arrows Capital. Three Arrows Capital’s creditors have reportedly expressed considerable frustration with the slow pace of bankruptcy proceedings. BlockFi has argued that Three Arrows Capital, like FTX, was not entitled to repayment and claimed that the crypto hedge fund used fraudulent means to borrow the funds. Three Arrows Capital had previously taken loans from BlockFi, on which it subsequently defaulted. This led to the foreclosure on the collateral, leading to what liquidators have described as a $220 million preferential payment to BlockFi. BlockFi’s creditors have also accused the company of ignoring several warnings and red flags when dealing with FTX and its sister concern Alameda Research, just months prior to the FTX collapse. The creditors claimed that the CEO of BlockFi ignored advice from BlockFi’s risk management team, which had stated that Alameda Research’s balance sheet primarily consisted of FTX’s own FTT token. However, the CEO dismissed such concerns and urged the risk management team to get comfortable with Alameda Research being a borrower similar to Three Arrows Capital. “As early as August 2021, BlockFi’s risk management team was advised that Alameda’s balance sheet was largely comprised of ‘~7bb unlocked FTT and 11bb total including locked tokens based on unaudited financials. This set off alarms at BlockFi. Mr. Prince dismissed the concerns, urging the risk team to learn to ‘get comfortable [with Alameda] being a three arrows size borrower, just with FTT and other collateral types instead of GBTC shares.” However, BlockFi’s creditors settled with the company last month on moving ahead with a repayment plan. BlockFi collapsed just weeks after FTX, filing for Chapter 11 bankruptcy on the 28th of November. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BTC price action is causing some to panic, but Bitcoin miner confidence in the network is there for all to see.

Participants in the round include Blockchain.com, Sky9 Capital, Jane Street Capital, VistaLabs, Human Capital, VY Capital, CMT Digital, among other investors.

Bitcoin traders ramp up bullish prognoses as BTC price faces down key resistance — can bulls stay the course?

Blockchain protocols can’t (and shouldn’t) ignore AI’s potential, but it’s important to implement it with caution and care.

Lawmakers appear to have largely ignored pleas from organizations linked to Polygon, NEAR and Cardano about the kill-switch, according to a final version of the text seen by CoinDesk

The crypto-based debit card will allow web3 users to use their stablecoins to pay for products in everyday life.

Crypto lending firm BlockFi had roughly $1.2 billion in assets tied to FTX and Alameda Research when the firm filed for bankruptcy in November 2022.

From enhancing disease diagnosis to personalizing patient care, here’s how AI can reshape the future of healthcare.

Unlike scams, ransomware attacks are “agnostic to Bitcoin price actions,” says Cybercrime Research Lead Eric Jardin.

The US regulator believes Coinbase is trying to ignore the Howey test, used to determine which assets are classified as securities.