Category Archives: business

Sam Bankman-Fried’s holding company files for bankruptcy

By Cointelegraph By Turner WrightFebruary 3, 2023bankruptcy, business, emergent fidelity technologies, Sam Bankman-Fried, United States

Emergent Fidelity Technologies filed for Chapter 11 in U.S. Bankruptcy Court for the District of Delaware to pursue a “form of joint administration” between its case and FTX's.

Kraken shuts down Abu Dhabi office: Report

By Cointelegraph By Turner WrightFebruary 2, 2023business, cryptocurrency exchange, kraken, Middle East

Several Kraken employees will reportedly remain in the Middle East and North Africa, with regional managing director Benjamin Ampen likely to leave following the transition.

FTX CEO says he is exploring rebooting the exchange: Report

By Cointelegraph By Turner WrightJanuary 19, 2023business, cryptocurrency exchange, FTX, john ray, Sam Bankman-Fried

FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for bankruptcy following the firm's reported liquidity crunch in November.

Spain’s central bank approves euro-linked token pilot as part of sandbox initiative: Report

By Cointelegraph By Turner WrightJanuary 18, 2023business, CBDC, Central Bank, euroSpain

To use the tokens, users will need to verify their identity through phone and video identification, and load their wallet with real euros.

Genesis is planning to file for bankruptcy: Report

By Cointelegraph By Turner WrightJanuary 18, 2023bankruptcy, business, digital currency group, Genesis, liquidity

Another one bites the dust? A report suggested the initial bankruptcy filing from Genesis could come before February.

FTX: it took ‘Herculean investigative effort’ to identify $5.5B in liquid assets

By Cointelegraph By Turner WrightJanuary 17, 2023bankruptcy, business, cryptocurrency exchange, FTX, Sam Bankman-Fried

Debtors said they had identified $1.7 billion in cash, $3.5 billion in crypto assets and $0.3 billion in securities following FTX filing for Chapter 11 bankruptcy.

Seoul government opens city’s metaverse project to public

By Cointelegraph By Turner WrightJanuary 16, 2023business, Government, Metaverse, south korea

According to Seoul Mayor Oh Se-hoon, the virtual environment will allow residents to access official documents, file complaints, and receive answers to questions on filing taxes.