crypto
Fallen cryptocurrency exchange FTX says that nearly all of its customers will receive the money back that they are owed, two years after its spectacular implosion, and some will get more than that. FTX said in a court filing late on Tuesday that it owes about $11.2 billion (€10.4 billion) to its creditors. The exchange estimates that it has between $14.5 billion (€13.5 billion) and $16.3 billion (€15.1 billion) to distribute to them. The filing said that after paying claims in full, the plan provides for supplemental interest payments to creditors, to the extent that funds still remain. The in...
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A large chunk of the world's wealth today is locked in illiquid assets, therefore they are typically traded at a discount. According to a recent study by the Boston Consulting Group, "tokenisation" - using cryptocurrencies and blockchain technology promise to turn illiquid assets such properties into capital flows - and this market is expected to grow to $16 trillion (€14.85 trillion) by 2030. Although the use of these new digital tools has yet to be widely regulated in the US, new laws in Europe are set to take effect from 2025 which may lead to investors reconsidering the idea of tokenising ...
Euronews (English)
For some, it's a bubble, for others, it's a huge investment opportunity. Bitcoin went a lot further than many would have imagined in January 2009, but it has yet to show its full potential. The traditional financial industry has already adopted crypto technology in many ways, but the expectations are that crypto is going to be an option when people pay for their taxes as well as their coffee in a few years. While regulation is on its way in the EU, Bitcoin has already been introduced to pave the way in Switzerland. Which provided a higher yield in the last decade: Bitcoin or a house in London?...
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Crypto entrepreneur Sam Bankman-Fried has been sentenced to 25 years in prison for a massive fraud that unravelled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. Bankman-Fried, 32, was convicted in November of fraud and conspiracy — a dramatic fall from a crest of success that included a Super Bowl advertisement and celebrity endorsements from stars like quarterback Tom Brady, basketball star Stephen Curry and comedian Larry David. US District Judge Lewis A. Kaplan imposed the sentence on Thursday in the same Manhattan courtroom where,...
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The biggest cryptocurrency by market value is continuing to rally with the price reaching above $65,000 (€59,919) in the early Asian trade on Monday, as institutional investors pushed up the prices of cryptocurrencies. The CoinDesk Bitcoin Price Index (XBX) had a peak of $65,563.25 (€60,408.34) in the early hours of Monday. The $65,000 is about 5% below Bitcoin's all-time high value in dollar terms of $69,000 which was set in November 2021. One of the main drivers of the current rally is that investment in crypto funds has risen rapidly since a financial product linked to Bitcoin, called Spot ...
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Sam Bankman-Fried's lawyer said on Tuesday that a suggested 100-year prison sentence for the FTX founder by an arm of the court is “grotesque” and “barbaric” and at most a term of a few years behind bars is appropriate for cryptocurrency crimes that the California man still disputes. In presentence arguments filed just minutes before a late Tuesday deadline in Manhattan federal court, attorney Marc Mukasey said a report by Probation officers improperly calculated federal sentencing guidelines to recommend a sentence just 10 years short of the maximum potential 110-year sentence. A spokesperson...
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The world's largest cryptocurrency by market cap is rallying due to big investors' growing appetite. Bitcoin's price rose 10% in two days and was trading at more than $56,000 (€51,606), the highest since November 2021. The CoinDesk Bitcoin Price Index (XBX) had a peak of $56,940.18 (€52,472.08) in the last 24 hours but the index lowered to around $56,500 (€52,0660) by Tuesday morning in Europe. One of the main drivers of the current rally was crypto investor and software firm MicroStrategy announcing a large purchase of 3,000 bitcoins for $155 million (€143 million). Cryptocurrencies are incre...
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Nothing has been more damaging to the adoption of cryptocurrencies than the “no-coiners” — deniers who refuse to buy into the system and prophesied that the industry is doomed to failure. Fortunately, these "sceptics" appear to be a dying breed and the doubters are becoming less doubtful. Two years ago, an article published in Vice magazine outlined how a "no-coiner" was a derogatory term in the crypto world, used to describe anyone who derides the ecosystem by saying things like: "it's a bubble about to burst," "it's not real money," or is "a wildly anarchic unregulated form of Wild West fina...
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