Cryptocurrency trading platform WOO Network has announced its plans to repurchase shares and tokens from bankrupt crypto hedge fund Three Arrows Capital (3AC). This move aims to eliminate the uncertainty surrounding WOO’s business caused by the collapse of 3AC. WOO has reached an agreement with 3AC’s liquidator, Teneo, to buy back the shares and tokens […]
Former Alameda Research CEO, Caroline Ellison, testified in the criminal trial of Sam “SBF” Bankman-Fried, revealing that she provided manipulated financial data to Genesis at Bankman-Fried’s direction. Ellison admitted to creating “alternative” balance sheets that concealed Alameda’s borrowing of $10 billion from FTX and $5 billion in loans to executives and affiliated entities. She expressed […]
The Open Network Foundation (TON Foundation) has announced its attempt to become the world’s fastest blockchain, as recognized by Guinness World Records. The foundation plans to conduct a public network performance test on October 31, 2023, to showcase the reliability, scalability, and speed of The Open Network (TON) blockchain. To facilitate the test, TON Foundation […]
BlackRock has utilized JPMorgan’s new blockchain tools to facilitate instant collateral settlement with Barclays. The transaction involved tokenized shares from one of BlackRock’s money market funds, leveraging JPMorgan’s Tokenized Collateral Network (TCN). This blockchain-driven platform allows for efficient and instantaneous transactions, eliminating the delays associated with traditional methods. JPMorgan plans to expand the supported assets […]
JPMorgan Chase & Co. has achieved a significant milestone in blockchain technology with the completion of its Tokenized Collateral Network (TCN) live transaction. This groundbreaking transaction involved major financial giants BlackRock Inc. and Barclays Plc, marking a pivotal moment in adopting blockchain technology for financial processes. The TCN, developed by JPMorgan, has proven its ability […]
Circle, the issuer of the USDC stablecoin, has announced a strategic partnership with Coins.ph, a major cryptocurrency exchange and digital wallet provider in the Philippines. The aim of the partnership is to increase awareness of USDC payments and provide Filipinos with a more affordable and efficient way to make cross-border money transfers. Currently, the average […]
Sam Bankman-Fried, the founder of FTX, has been accused of sanctioning fraud by Caroline Ellison, the CEO of Alameda Research. Ellison confessed to committing fraud under the instructions of Bankman-Fried, setting up a system to funnel money out of FTX. This system allowed Alameda Research to secure $14 billion from FTX, while manipulating the balance […]
Bitfinex’s parent company, iFinex, has announced plans to buy back $150 million worth of shares from users who were given these shares as compensation for the 2016 hack on the Bitfinex crypto exchange. The buyback offer comes as a result of the exchange’s positive performance in recent years. In the aftermath of the hack, Bitfinex […]
The XRP community has been buzzing with speculation about the Swiss central bank potentially using XRP as a settlement token. This speculation arose after Switzerland announced at a conference that live transactions with a Central Bank Digital Currency (CBDC) would take place by the end of the year. However, it has been revealed that this […]
American banking giant JP Morgan has launched its in-house blockchain collateralization platform, called Tokenized Collateral Network (TCN). The platform allows investors to use assets as collateral by transferring ownership through blockchain technology. TCN recently settled its first trade for asset management giant BlackRock, converting shares of a money market fund into digital tokens. The use […]
