The Genesis bankruptcy is about to take a high-stakes turn with a $630 million payment from Digital Currency Group (DCG) due by May 11. Barry Silbert’s DCG, the parent company of Genesis, is on the hook for the massive payment, but doubts are swirling as to whether the crypto conglomerate can cover it.
Lumida Wealth CEO Ram Ahluwalia joins the show to unpack what could happen to Genesis creditors, Gemini Earn users, and the markets should DCG fail to cover its debt obligations.
Inscription numbers on the Ordinals protocol were displaced with a 0-value transaction.
Daily Bits…✍️✍️✍️
Newly released documents reveal Israel's counter-terrorism authorities seized about 190 Binance crypto accounts since 2021, some linked to Islamic State and Palestinian firms allegedly tied to Hamas; Binance claims the reporting omits critical facts.
Recent revelations about Protego Trust's denied application with the Office of the Comptroller of the Currency have fueled suspicions of a coordinated effort to isolate the crypto industry from the banking sector, known as "Operation Choke Point 2.0."
A U.S. court ordered the SEC to address Coinbase's complaint regarding the application of securities laws to digital assets, with responses required within specified timeframes.
Coinbase CEO Brian Armstrong reaffirmed the company's commitment to the US market despite regulatory uncertainty, expressing optimism that Congress will soon establish a clear set of rules for crypto firms to follow, but remained critical of the SEC’s unpredictability.
Florida Governor Ron DeSantis warned that the Biden administration wants to eliminate crypto and announced the advancement of legislation against central bank digital currencies in the state.
Coinbase's Q1 revenue increased by 23% to $773 million, surpassing analyst expectations, leading to an 8% rise in shares during after-hours trading.
Lido Finance exceeded six million ether deposits on its liquid staking platform following Ethereum's Shanghai upgrade, with a net inflow of 105,644 ETH worth approximately $199 million.
A federal judge maintained a freeze on $35 million in crypto assets held by SpartacusDAO, as its leader faces a lawsuit from SPA token investors and has yet to work with the court.
The UK's Financial Conduct Authority (FCA) is intensifying its efforts against unregistered and illegal crypto ATMs, citing money laundering concerns while conducting raids in multiple cities.
SushiSwap introduced V3 liquidity pools on 13 networks, aiming to enhance trading and liquidity provision while reducing financial risks and offering greater flexibility to traders.
Today in Crypto Adoption...
Alibaba Cloud developed Cloudverse, a launchpad for businesses to create and manage metaverse spaces on the Avalanche blockchain, offering an end-to-end platform for customer engagement.
The $$$ Corner…
ZkLink raised $10 million in a strategic funding round, including support from Coinbase Ventures.
Crypto startup OpenTrade closed a $1.5 million round led by Sino Global Capital (SGC) to facilitate faster and more affordable money movement using stablecoin USDC.
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