The agreement, which is subject to a court approval, resolves a major hurdle for FTX bankruptcy process.
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- Global
The tokens were initially reserved for a parachain slot on Polkadot but have since fallen out of use.
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The FTX estate and the Internal Revenue Service proposed a settlement that would see the bankrupt exchange’s estate pay the government nearly $1 billion.
The sum, which totals $885 million, is a far cry from the $24 billion originally sought by the IRS.
As part of the proposed plan, the debtors will pay the IRS $200 million within 60 days of confirmation. The other $685 million will be paid “to the extent of funds available in accordance with the settlement.”
Meaning that the claim is on the lower priority list, and other claims will be paid out first.
There’ll be a hearing on the motion held on June 25 before Judge John Dorsey, the judge overseeing the bankruptcy…
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For over a year, some have considered bitcoin to be under siege. Fee spikes and transaction volumes associated with Ordinals and Inscriptions have impacted other users, and some even propose these may be cover for a deliberate attack by a well-funded state actor. Yet at the same time, others see the very same events as demonstrating Bitcoin is stronger than ever. Tensions between both sides are escalating, positions are becoming entrenched, and dialogue is breaking down. Battle lines are being drawn and reconciliation seems increasingly unlikely. We may be in the early innings of the next fork war, and I believe that once again, one side is fundamentally misunderstanding the…
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Imagine waking up one day to find that your online community has vanished. Your digital presence, painstakingly built over years, has been erased in an instant.
This is not a dystopian future, but a reality many have faced in the current landscape of online platforms. It’s a reality I faced, when my previous company, Meerkat, was removed from Twitter’s API and cut off from its social graph. I remember asking Twitter if we had a week or so to prepare after we got the news. Instead, two hours later, we were kicked off the platform.
We deserve better. To avoid more cases like this, communities should be run and owned from within, by the people.
Do you prefer to rent or own?
With…
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Bitpanda has announced a strategic partnership with Deutsche Bank to process fiat deposits and withdrawals for its users in Germany. This new arrangement enables Bitpanda customers to use German international bank account numbers (IBANs), simplifying the conversion between cryptocurrency and fiat money. Deutsche Bank will support both incoming and outgoing transactions, enhancing the efficiency of digital currency exchanges.
Lukas Enzersdorfer-Konrad, Bitpanda’s deputy CEO, emphasized the importance of combining traditional banking strengths with fintech innovations. “Bringing the best parts of the industry together is where we can create real value for people,” he noted. This collaboration not only improves services for Bitpanda’s users but also marks an expansion in Deutsche Bank’s involvement with digital financial products.
Earlier in the year, Bitpanda partnered with Landesbank Baden-Württemberg to launch crypto custody services, highlighting its commitment to integrating cryptocurrency solutions into conventional banking frameworks.
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Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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The former FTX CEO spent roughly a week at the Federal Transfer Center in Oklahoma City, with many speculating authorities planned to send him to a California prison.
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Former OpenAI, Anthropic, and DeepMind employees urge AI companies to expand whistleblower protections to publicly address AI risks amid growing concerns over the “deprioritization” of safety.
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Mark Yusko, the founder of Morgan Creek Capital Management, highlighted the strategic importance of including digital assets in investment portfolios during his recent appearance on CNBC’s Fast Money. Yusko emphasized their unique value as uncorrelated diversifiers that don’t depend on traditional financial asset metrics.
He also shared an optimistic outlook for cryptocurrencies, particularly Bitcoin. The introduction of Bitcoin exchange-traded funds (ETFs) is expected to reduce volatility and potentially drive prices significantly higher. Yusko predicts the assets under management (AUM) for Bitcoin ETFs could escalate to $300 billion, attributing the growth to the ease of investing in cryptocurrencies through ETFs, bypassing the complexities of dealing with software or hardware.
Further bolstering his case, Yusko referred to the historical performance of Bitcoin, which has consistently shown robust gains. His bold prediction aligns with top traders like Peter Brandt, who foresee Bitcoin reaching as high as $150,000 by 2025. This optimism in digital assets comes amidst a backdrop where traditional commodities, despite hitting new highs, remain undervalued compared to paper assets, according to Yusko.