U-Turn By FTX: Withdraws Proposal Potentially Impacting Customer Claims World...
The bankruptcy estate of the now-defunct cryptocurrency exchange FTX has decided to withdraw its motion aimed at limiting creditor distributions to certain “potentially restricted foreign jurisdictions.” This decision follows substantial pushback from creditors and a wave of objections filed in bankruptcy court. FTX Trust Abandons Controversial Plan The FTX Recovery Trust, which filed a notice […]
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According to a post on the MakerDAO Forum, the financial service protocol could replace its governance token MKR with a new token called stkMKR. The proposal was introduced to address the criticism around MKR’s tokenomics. Related Reading | Will Ethereum Give In To Bears? New MKR tokenomics could supplement and improve on previous benefits and incentives. The proposal emphasized that stkMKR will preserve MKR’s current burn mechanism and will allow users to claim their reinvest dividends and other payouts without spending funds on gas while keeping its tax efficiency. On previous....
There have been several allegations saying that AT&T has blocked ports used by bitcoin, but the company has clarified that it isn't doing so. "We do not block port 8333/tcp or attempt to block bitcoin nodes for our customers," AT&T told DSLReports. "Any customer experiencing a problem should contact AT&T customer care." As it turns out, the issue originated from a post on the bitcoin developers mailing list, stating that bitcoin is being censored by ISPs. Did AT&T Ban Bitcoin? The user claims to have spotted secret firewalls in AT&T U-Verse DVRs. "The internet is being routed through a....
How stocks correlation, Grayscale, Russia, stablecoins, rate hikes and more are impacting the bitcoin price today.
The ongoing legal battle over the future of Mt. Gox took a sudden turn yesterday, when it was announced that Sunlot Holdings, the investor group seeking to buy what remains of the business, and lawyers representing the company's global consumer creditors had struck a settlement deal. Under that proposal, former exchange users would support Sunlot's bid to buy and relaunch Mt. Gox in exchange for a 16.5% equity stake in the new business and settle with key defendants, including former Mt. Gox chief marketing officer Gonzague Gay-Bouchery and original site creator and equity stakeholder Jed....
The details of the withdrawal will reportedly be part of upcoming court filings, and it's possible the founder and former CEO of the crypto platform could be forced to pay it back. Celsius Network founder and former CEO Alex Mashinsky allegedly withdrew $10 million from the crypto lending platform just weeks before the company froze customer funds and declared bankruptcy.The withdrawal was cited by sources from the Financial Times who said Mashinsky withdrew the funds in “mid to late May” prior to the Jun. 12 pause on all withdraws. Celsius was a popular crypto-lending platform with 1.7....