Author: Press Room

Barry Silbert. Source: a video screenshot.Troubled crypto trading and lending firm Genesis Global has lent out some $2.8bn to various crypto firms, including large loans to its parent company, Barry Silbert’s Digital Currency Group (DCG).The outstanding loans on Genesis’ balance sheet also consisted of intercompany loans, such as one from lending subsidiary Genesis Global Capital to the crypto brokerage Genesis Global Trading. The latter subsidiary is a key player in the crypto industry, acting as an important counterpart for many of the largest crypto firms.The news was reported by Bloomberg on Tuesday, with the article citing people “familiar with the…

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Quick take:The ApeCoin NFT marketplace features Bored Ape, Mutant Ape and Otherside metaverse assets.The custom marketplace offers lower fees than a general marketplace like OpenSea.It was built by Snag Solutions, a two-man team of former DoorDash employees.ApeCoin DAO has launched a custom NFT marketplace for collections produced by Yuga Labs. The marketplace went live today, allowing users to trade top Yuga Labs collections like Bored Ape Yacht Club, Mutant Ape Yacht Club, and Otherside metaverse assets.Prior to the launch of the platform, established marketplaces Magic Eden and Rarible both pitched their proposals to build the platform with no upfront fee.…

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Two Democratic members of the United States Senate have called on the Justice Department to investigate the collapse of FTX and potentially prosecute individuals involved in wrongdoing.In a Nov. 23 letter to U.S. Attorney General Merrick Garland and Assistant Attorney General Kenneth Polite, Senators Elizabeth Warren and Sheldon Whitehouse requested the Justice Department launch an investigation into crypto exchange FTX’s downfall with the “utmost scrutiny.” The lawmakers cited the impact the collapse of a major firm in the crypto space had had on related companies — lending companies including Genesis and BlockFi halting trading — and funds which FTX retail…

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Litecoin (LTC) has made a surprise breakaway even as the greater crypto market struggles to make gains, pushing up fast since Nov. 22 and rising over 27% in the past 48 hours and currently sitting at $78. The question is, does it have more bullish juice left or will the latest pump be followed by a sharp correction?This depends on both technical and fundamental factors. On the technical side, LTC has broken out of its sideways range from last week, ending up well above a key resistance and support level at $70.On the fundamentals side, there are obviously macroeconomic factors…

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Quick take:Kids Foot Locker has launched a virtual experience on Roblox.The kids’ footwear store named its metaverse experience the “Kids Foot Locker House of Play”.It will offer games, unlockable sneakers with powers, and interactive virtual space.Kids Foot Locker has jumped on the metaverse race with a virtual hub on Roblox. Dubbed “Kids Foot Locker House of Play”, the experience offers immersive gaming, unlockable sneakers with powers, and an interactive virtual space.The metaverse is a 3D virtual space where people can interact immersively through gaming, virtual shopping, socialising, and other experiential events. Leading brands have leveraged the rapid growth of the…

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Blockchain venture capital inflows sharply decreased in October from the previous month. According to Cointelegraph Research, the number of individual deals dropped from 93 to 69 monthly.The Cointelegraph Research Terminal VC database, which compiles comprehensive details on deals, mergers and acquisition activity, investors, crypto companies, funds and more, shows venture capital inflows plummeted 48.6%, totaling $843.5 million in venture capital (VC) investment, down from $1.64 billion in September.Big raises despite difficult market conditionsIt’s not all bad news. Signals that there is still active interest by VCs in the blockchain industry are flashing daily. In the decentralized finance (DeFi) sector, Uniswap…

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Source: Burdun/AdobeTokens such as Ethereum (ETH) and Bitcoin (BTC) continue to rest on uneasy legal ground in China – where an ETH hacker who struck in 2018 was recently sentenced to 10 and a half years behind bars. But prosecutors in the country have explained that it could be tricky to convict BTC thieves who have struck after the 2021 crackdown.Per a branch of the Guangxin District Peoples’ Court, an individual surnamed Li used a virus-like program to hack into an ETH wallet that belonged to an individual surnamed Miao. Li then proceeded to steal a total of 383.6722 ETH…

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Former FTX CEO Sam Bankman-Fried, also known as SBF, has reiterated apologies to the exchange’s employees in a letter explaining the collapse. According to a Nov. 22 letter reviewed by Cointelegraph, Bankman-Fried broke down the reasons behind FTX’s liquidity crisis and subsequent bankruptcy to employees. He largely confirmed information reported by media outlets amid the exchange’s collapse, citing the crypto market downturn as one of the factors leading to reduction in the value of FTX’s collateral assets. November’s “run on the bank,” according to the former CEO, helped reduce the exchange’s collateral to roughly $9 billion with $8 billion in liabilities.…

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Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.Bitcoin casino apps offer a convenient way for players to bet at top-rated casino sites from the convenience of their mobile phones. This guide will cover a rundown of the best Bitcoin casino apps to use in 2022. To give gamblers a detailed overview of the top 10 Bitcoin mobile casinos, we will review all aspects of each app’s features, welcome bonuses and library of mobile friendly games. The 10 Best Bitcoin Casino Apps for 2022The sections below have listed down the top 10 best crypto casino apps to…

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Bitcoin (BTC) lingered near $16,500 at the Nov. 23 Wall Street open as United States markets awaited Thanksgiving cues.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewGrayscale, GBTC still dominate crypto moodData from Cointelegraph Markets Pro and TradingView showed BTC/USD shunning volatility after fresh two-year lows the day prior.The pair left analysts guessing the day before U.S. markets closed for the Thanksgiving holiday, with crypto commentators still focused on Digital Currency Group (DCG).Potential liquidity problems with DCG-owned Genesis Trading continued to agitate those already expecting further losses across Bitcoin and altcoins.As Cointelegraph reported, concerns had already spread to doubt the future of…

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