Crypto News

Bankrupt crypto exchange FTX has said it should not have to pay a massive $1.53 billion recovery claim by Three Arrows Capital, arguing in a recent court filing that the crypto hedge fund’s “own risky strategy caused its collapse, and its own account activity — not any action by — resulted in a significant decline in the “value” associated with the 3AC Accounts in June 2022.”“3AC bet big that cryptocurrency prices would increase using cash it did not have and, when prices instead plummeted, 3AC proceeded to liquidate the risky bets it had placed and withdraw assets from ,” FTX’s lawyers wrote in the filing.The Delaware court overseeing FTX’s bankruptcy gave 3AC’s liquidators permission to expand their claim earlier...

President Trump's publicly traded Trump Media and Technology Group is buying back shares—but still plans to buy Bitcoin too.Source link

Amidst the Mideast conflict, the venture capitalist and entrepreneur from Silicon Valley, Tim Draper, articulated that in these precarious times, one asset remains “valuable everywhere, bitcoin.” Draper Says Bitcoin’s the Real Refuge in a World on Fire An influential figure in the venture capital sphere, Tim Draper, who established Draper Associates and Draper University, holdsSource link

Cryptocurrencies gave up nearly all of their overnight bounce on during midday U.S. hours on Monday, with bitcoin BTC sliding back below $100,000 on news reports that Iran was preparing to attack U.S. bases in the Middle East.Other major cryptos also erased gains: Ethereum's ether ETH fell below $2,200, while XRP XRP plunged back below the $2 level.At press time, bitcoin had returned to modestly above the $100,000 mark. The Sunday low in prices was at roughly $98,500.Axios reported that the Trump administration was preparing for Iran to attack U.S. bases in the Gulf in retaliation for the U.S. military bombarding three Iranian nuclear sites over the weekend. The report noted the president as imminently set to meet with his...

Instead of simply buying and holding Bitcoin, the company plans on putting capital to work.Source link