cryptocurrency
Once one of the largest cryptocurrency exchanges in the world before its monumental collapse two years ago, FTX said this week that nearly all of its customers will receive the money back that they are owed. FTX said in a court filing in the United States 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. How did we get to this point? Here is a timeline of what led up to this week's announcement after an implosion at FTX kicked off wh...
Euronews (English)
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...
Euronews (English)
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)
ValueWalk
ValueWalk
Prosecutors in the United States on Tuesday are asking a judge to hand Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, a three-year prison sentence for allowing rampant money laundering on the platform. Zhao pleaded guilty and stepped down as Binance CEO in November as the company agreed to pay $4.3 billion (€4 million) to settle related allegations. US officials said Zhao deliberately looked the other way as illicit actors conducted transactions that supported child sex abuse, the illegal drug trade, and terrorism. Binance CEO 'CZ' Changpeng Zhao steps dow...
Euronews (English)
ValueWalk
ValueWalk
Bitcoin halving is a significant event that occurs roughly every four years, marking a gradual slowdown in the Bitcoin production rate; this is done to maintain a maximum limit of 21 million Bitcoin tokens. Around 19 million Bitcoin tokens are circulating, with the limit expected to be exhausted by 2140. The halving event plays a vital role in the Bitcoin market, often leading to a rally before the event. This year, prices were boosted by the U.S. Securities and Exchange Commission's decision to approve the launch of bitcoin exchange-traded funds (ETFs). Since their inception in January, these...
IBTimes
The fourth Bitcoin halving event is almost upon us with, if history is any indicator, the cryptocurrency likely to see a post-halving surge. Bitcoin halving is an event that takes place approximately every four years, which sees the number of bitcoins released as mining rewards decrease by 50%. Currently the Bitcoin reward is 6.25 BTC. However, after the fourth halving, the reward will fall to 3.125 BTC. As a result, the amount of Bitcoins in circulation becomes even scarcer, causing a surge in demand amongst investors. This is mainly because Bitcoin has a finite supply, with only a maximum of...
Euronews (English)
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