Bankruptcy
DCG responds to Genesis bankruptcy; Bitcoin jumps 4% as contagion fears lessen
Only the lending arm of Genesis has filed for bankruptcy while DCG still has $526M in debt owed to Genesis by May 2023
Liam 'Akiba' Wright 2 min read
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Bear Market
Crypto markets hold steady in face of Genesis bankruptcy filing
Crypto markets did not react to news of Genesis filing for Chapter 11 bankruptcy. However, contagion risk remains a threat.
Bankruptcy
MakerDAO approves 85% Gemini USD holdings in DAI stablecoins
Maker's PSM poll showed 50.85% of participants supporting keeping the GUSD debt ceiling at $500 million, while the rest supported its removal.
Latest Bear Market News & Analysis
Bankruptcy
FTX CEO John Ray creates taskforce to explore restarting exchange
CEO John Ray stated that ‘everything is on the table’ and if there is a path forward, FTX will explore it.
Bear Market
KuCoin reports growth in volume, user count through crypto winter
KuCoin's user count surpassed 27 million, while the spot and futures markets' combined transaction volume surpassed $3.6 trillion.
Bear Market
Amber Group cuts Hong Kong workforce by 50%
Amber Group has delayed payment of bills to third-party vendors, while some are owed in arrears for up to six months.
Adoption
Infrastructure protocol Intu seeks to provide complete ownership to crypto accounts
Intu allows ownership to be distributed across multiple devices or wallets, which can be changed or revoked in the event of a compromise, according to the co-founder.
Bear Market
ConsenSys CEO confirms layoffs, firm to focus on scaling core offerings
ConsenSys' CEO assured terminated employees that the firm would provide "generous packages" as they seek new employment.
Exchanges
Coinbase to halt operation in Japan
The exchange said leaving Japan is part of its restructuring process that will help it weather the bear market.
