Bloomberg-Analyst Mike McGlone sieht Bitcoin wie vor dem Bullenlauf von 2019, aber warnt, dass die makroökonomischen Rahmenbedingungen weiterhin schlecht sind.
Genesis could file for bankruptcy this week: report
- Genesis Global Capital, a crypto lending platform owned by Digital Currency Group (DCG), is said to be considering filing for bankruptcy.
- According to a Bloomberg report, Genesis is likely to file for bankruptcy this week.
- Genesis paused customer withdrawals in November, with over $900 million owed to Gemini Earn customers alone.
Troubled crypto lender Genesis Global Capital is reportedly looking to file for bankruptcy, according to the latest cryptocurrency news around the platform.
Genesis is a subsidiary Digital Currency Group, DCG, a crypto company that has over the past few weeks been one of the main topics across Crypto Twitter for its role in the troubles that now beguile its crypto lending unit. DCG also owns Grayscale and crypto publication CoinDesk.
Genesis could file for bankruptcy as early as this week
Indeed, as we recently reported, crypto exchange Gemini has accused DCG for the difficulty that it has faced since Genesis paused redemptions and loan originations in November last year. And the US Securities and Exchange Commission (SEC) has charged both Gemini and Genesis for violating the securities laws through the offerings linked to the Gemini Earn product.
Now, amid the liquidity crunch that’s bitten the company, the report is that Genesis could file for bankruptcy protection in the next few days. Sources cited in a Bloomberg report on Wednesday say the bankruptcy filing could happen before the end of the week.
Companies use Chapter 11 bankruptcy procedures as a platform that allows the embattled business time in which they can work towards salvaging assets and recouping value for creditors.
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Deal Box launches $125 milllion venture fund to invest in Web3
- Deal Box’s venture arm will invest in blockchain and Web3 startups.
- Dubbed Deal Box Ventures, the investment unit will target projects in fintech, emerging growth, real estate, funtech and social impact.
- Thomas Carter, the founder and Chairman of Deal Box, says the fund will also provide the tools and funding ecosystem startups need to succeed.
Deal Box, a US-based capital markets advisory platform, has launched a new venture fund that will invest $125 million in blockchain and Web3 technology startups.
A press release from the token offering firm noted that Deal Box Ventures will look at projects across five key fund areas – fintech, emerging growth, funtech, real estate and social impact.
“Deal Box Ventures is an important milestone in our journey to invest in the most promising and disruptive blockchain startups, providing them with the tools and funding ecosystem they need to be successful by simplifying and reimagining traditional financing models,” said Thomas Carter, the founder and Chairman of Deal Box.
Deal Box already invests in three key blockchain projects
According to the press release, Deal Box Ventures will target strategic investments aimed at unlocking the full potential of blockchain technology. The venture fund will thus focus on supporting projects leveraging the new technology to reshape and improve everyday lives.
These goals tie in with part of Deal Box’s Web3 investments in three key projects whose technology looks to solve issues around device identity.
Total Network Services is a platform offering UCID (Universal Communication Identifier), the first blockchain-enabled supply chain security service in the world. Deal Box has also invested in Rypplzz, a project that taps into the benefits of blockchain technology to connect digital and physical objects. Meanwhile, Forward-Edge AI aims to use Artificial Intelligence (AI) to improve human life.
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Dogecoin drosselt CO2-Ausstoß unter anderem dank Elon Musk um 25 Prozent
Die Scherz-Kryptowährung hat nicht nur eine starke Performance im Seuchenjahr 2022 hingelegt, sondern auch die eigene Umweltbelastung spürbar verringert.
EU postpones final vote on its MiCA regulation
- The European Parliament passed the comprehensive Markets in Crypto-Assets, MiCA legislation in October 2022.
- The final vote on the bill was originally set for February 2023, but has now been pushed to April.
- The crypto sector is increasingly in the regulatory spotlight following high profile collapses of crypto companies like FTX.
The European Union wants to see proper crypto regulation across its member states, even as a global push for a harmonized approach gathers pace.
Uniquely, the EU is in the process of finalizing its Markets in Crypto Assets regulation (MiCA), the comprehensive cryptocurrency regulations framework set to usher in a new dawn for crypto in the region.
But the final vote on the regulations will not come at least until April this year, the latest report on the topic suggest.
EU postpones MiCA vote, again
This latest delay – the second for the highly anticipated MiCA rules following the vote’s push from November last year to February 2023 – is down to a snag in the translation of the regulations.
Notably, MiCA is a 400-page rule book that needs to be translated into 24 official languages across the EU bloc. The requirement that the document be available in all the official languages before going to a crucial final vote has necessitated the postponement to April 2023.
The MiCA bill was first introduced in the European Parliament in September 2020, with lawmakers passing the bill in October 2022.
Crypto remains in the spotlight as policymakers and regulators look to harmonize the oversight of the industry following a spate of major bankruptcies in the last year. Among these is the collapse of FTX and multiple other crypto companies tied to disgraced crypto exec Sam Bankman-Fried.
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