Business | ForkLog

ForkLog 18 24.11.2022

NYT: Genesis does not rule out bankruptcy

The financially troubled crypto lender Genesis Global Capital has hired investment bank Moelis & Company to study options, including bankruptcy. The New York Times reports, citing its own sources.

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ForkLog 14 23.11.2022

Sam Bankman-Fried, in letter to former colleagues, hints at a possible rescue of FTX

Former FTX chief Sam Bankman-Fried explained to employees in a letter the causes of the collapse and did not rule out the possibility of the platform resuming operations. The Block obtained the document.

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ForkLog 22 23.11.2022

Foundry to buy two mining centres from the bankrupt Compute North

The DCG-owned Foundry Digital has signed an agreement with Compute North to acquire two operating cryptocurrency mining facilities and other assets.

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ForkLog 13 22.11.2022

Reuters: FTX bought $121 million worth of real estate to house its former chief

The parents of former FTX and Alameda Research chief Sam Bankman-Fried, he himself, and senior executives of the organisations have become owners of at least 19 premium real estate properties worth $121 million. This follows from documents Reuters had access to.

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ForkLog 20 22.11.2022

WSJ: Binance declines to rescue Genesis Global Capital

The bitcoin exchange Binance will not invest in Genesis Trading amid the crypto-lending platform's search for emergency funding of $1 billion. The Wall Street Journal reports.

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ForkLog 12 18.11.2022

Zipmex seeks extension of creditor-protection moratorium

The Thai cryptocurrency exchange Zipmex filed for creditor protection with the Singapore court until April 2, 2023.

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ForkLog 18 18.11.2022

Genesis Global Capital sought emergency financing of $1 billion, reports say

The OTC platform Genesis Global Capital requested access to a $1 billion credit line by the morning of November 14, citing liquidity shortages. The Wall Street Journal reports, citing informed sources.

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ForkLog 11 18.11.2022

Solana-based Metaplex NFT marketplace cuts staff amid FTX collapse

The NFT protocol development studio Metaplex, from the Solana ecosystem, laid off an undisclosed number of employees due to worsening market conditions, according to co-founder and CEO Stephen Hess.

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ForkLog 17 18.11.2022

Investor describes Sam Bankman-Fried’s ‘catastrophic’ risk appetite

Serious concerns about the methods of operation of the founder of the failed FTX exchange Sam Bankman-Fried emerged even before the platform's founding. CNBC told Hack VC managing partner Alexander Pack.

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ForkLog 19 17.11.2022

B2C2 plans to acquire Genesis Global Capital loan portfolio

The cryptocurrency OTC platform B2C2 plans to acquire a loan portfolio worth about $2.8 billion from the financially distressed rival Genesis Trading.

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ForkLog 23 16.11.2022

Genesis Global Capital suspends crypto-lending operations

The cryptocurrency OTC platform Genesis Trading froze withdrawals and new loan origination amid heightened withdrawal requests from clients after the FTX collapse.

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ForkLog 13 15.11.2022

Media: Amazon to lay off a record 10,000 employees

Amazon will cut 10,000 people, about 3% of its corporate staff and 1% of its global workforce, according to informed sources cited by The New York Times.

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