BlocksInform
An attempt by defunct crypto trading firm Alameda Research to regain $446 million it transferred in loan repayments to bankrupt Voyager Digital has been rejected by both the creditors’ committee and Voyager itself, according to court filings. The travel creditors submitted that Alameda's claims should be fairly subordinated to all other claims of the creditors or requalified into shares. Creditors have stated that the "unfair and fraudulent conduct" of Alameda has cost travellers and creditors between $114 million and $122 million.
Bankrupt cryptocurrency exchange had around $1.4 billion in cash as of the end of 2022, according to an interim financial update filed on Wednesday. The figure is around 19% higher than the $1.2 billion reported in November when FTX filed for bankruptcy. Amongst the various arms of Sam Bankman-Fried's fallen crypto empire, FTX.US has $260 million in cash. Bankman-fried claimed time and time again that the American wing was creditworthy. Last month he blogged that FTX US "had at least $111 million, and likely around $400 million, of excess cash on top of what was required to match customer balances."
ARK Invest maintains its prediction that bitcoin prices will hit $1 million by 2030. Fundamentals are strong despite the turbulence of 2022, says the research report on the arch's big ideas for 2023. "Contagion brought on by centralized counterparties raised the value propositions of Bitcoin: decentralization, auditability, and transparency," writes cathie wood and the team. The KRG confirms this assertion by reporting a higher hash rate, a long-term offer and addresses whose balance is not zero compared with previous declines.
- The graph shows the range of percentage change in the dollar index (dxy) at 12 weeks since 1990.
- Dxy has depreciated by 9% over the past 12 weeks, a sharp drop that has cheered at-risk assets, including cryptocurrencies.
- In the past, the greenback has rebounded from sharp declines in the scale observed over the past few weeks, meaning that the rise of crypto markets could soon hit the wall.
Source: Morgan Stanley
- Bitcoin and Hang Seng's Stalled Rally Might Mean Wider De-Risking Ahead, TradFi Firm Says
- Bankrupt Lending Platform Celsius Names Users Eligible to Withdraw Assets
- Bitcoin's Blockchain Data Offers Evidence of Continued Investor HODLing During Bear Market
