Ponzi Scheme? KeFi CEO Files Lawsuit Against Crypto Broker Celsius

Ponzi Scheme? KeFi CEO Files Lawsuit Against Crypto Broker Celsius

Celsius was described as a Ponzi scam and a fraud by its former business partner. What a statement. Let’s go… On July 7, Jason Stone, the CEO of KeyFi Inc., said that he is pursuing legal action against major cryptocurrency lender Celsius in a New York court. The persona behind the yield farming account 0xb1 accused Celsius of behaving like a Ponzi scheme and of violating a profit-sharing agreement. The Tide is OUT! Stone said that between August 2020 and April 2021, KeyFi performed as the manager of 0xb1, a…

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Three Arrows Capital Bankruptcy Filing Claims Location of Co-founders is Currently Unknown

Three Arrows Capital Bankruptcy Filing Claims Location of Co-founders is Currently Unknown

Summary: Three Arrows Capital’s bankruptcy filing states that the location of both Su Zhu and Kyle Davies is currently unknown, and the pair might have left Singapore. The document also states that Three Arrows Capital managed $3 billion in digital assets as of April 2022. The bankruptcy filing also requests a stay on active efforts by creditors to seize the hedge fund’s assets. The whereabouts of the co-founders of embattled crypto hedge fund Three Arrows Capital are currently unknown. According to a bankruptcy filing made to the United States Bankruptcy…

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Voyager Proposes Customers to Receive Funds Pro-Rata to its Crypto Holdings, Proceeds from 3AC, Shares, and VGX Token

Voyager Proposes Customers to Receive Funds Pro-Rata to its Crypto Holdings, Proceeds from 3AC, Shares, and VGX Token

Summary: Voyager Digital has updated on the status of its customer’s USD and crypto. The crypto lending platform emphasizes that customers’ USD deposits are safe. Voyager states it has approximately $1.3 billion worth of crypto assets and $650 million in claims against Three Arrows Capital. The team has proposed a reorganization plan where its customers will receive their pro-rata share of the crypto, proceeds from 3AC recovery, common shares in the newly reorganized company, and shares of existing Voyager tokens. The team at Voyager Digital has provided an update on…

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G20 Watchdog Announces ‘Robust’ Global Crypto Regulation Coming in October

G20 Watchdog Announces ‘Robust’ Global Crypto Regulation Coming in October

The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October. FSB to Present Robust Crypto Regulatory Framework to G20 in October The Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, released a statement Monday on the “international regulation and supervision of crypto asset activities.” The G20 watchdog stated that it is committed to promoting “international consistency of regulatory…

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Universal Music Group puts its stars on the Blockchain

Universal Music Group puts its stars on the Blockchain

Universal Music, the world’s largest music label, is getting into the NFT business. This would allow global stars like Elton John or Lady Gaga to tokenize their hits and treat fans to special experiences. Will NFTs play first fiddle in the music industry of the future? LimeWire became known in the early 2000s at the height of the file-sharing hype as a tool to download and upload music in particular. Recently, the platform announced its comeback as an NFT marketplace. Now Universal Music Group, the world’s largest music label, is…

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