Tuesday August 09, 2022

Voyager Digital filed for bankruptcy

Voyager Digital, a crypto broker, has filed for bankruptcy protection. This comes days after it suspended all trading on its service. The company stated that prolonged volatility in crypto markets and the default of Three Arrows Capital on a $666million Voyager loan required it to take decisive action. Stephen Ehrlich, Voyager CEO, stated that a […]

Crypto consolidation is here and it’s messy

Good morning and welcome to Protocol Fintech. This Wednesday: Crypto consolidation, Atlanta’s fintech hub, and eToro’s canceled SPAC agreement. Why are governments still trying to accept crypto payments? A Bloomberg report on Utah and Colorado’s programs to accept Bitcoin and other virtual currencies reveals that it’s a sham. This is how it works: First, the […]

Ripple CEO threatens to leave US if it loses SEC case

Brad Garlinghouse, Ripple CEO, said that the crypto company would move to another country if it loses its legal battle against the SEC. Garlinghouse stated that he is confident that Ripple will prevail over the federal regulator. Garlinghouse claimed that Ripple was accused of failing to register approximately $1.4 billion worth of XRP tokens and […]

Binance.US names CFO in preparation for IPO

Binance.US has appointed a new CFO. This is a strong signal that the crypto-company is preparing to go public. The company announced Thursday that Jasmine Lee, who was previously the chief operating officer and CFO at Acorns will be leading Binance.US’ finance department. This is as the company prepares to go public in two to […]

Crypto bankruptcies test system

Good morning and welcome to Protocol Fintech. This Thursday, crypto travels to bankruptcy court, ABG settles with Bolt, and Binance.US hires a CFO to help it on its way to an IPO. The Office of Government Ethics has issued a legal advisory that will guide the Biden administration’s crypto rules. Crypto holdings will not be […]

Aave launches a new stablecoin at a time when trust in stablecoins is at a low

Aave, a decentralized lending protocol, announced Thursday that it would launch its own stablecoin called GHO. The stablecoin is collateral-backed, pegged to the U.S. Dollar value, but the collateral is mainly other cryptocurrency assets. The governance proposal states that GHO would be backed with a diverse set of crypto-assets at the users’ choice, while borrowers […]

Celsius is facing a lawsuit by an ex-asset manager

KeyFi, a former asset manger for Celsius, has filed a lawsuit against the troubled crypto lending company, alleging that it wasn’t paid for its work and that Celsius mismanaged customer money. Celsius has also been subject to volatile crypto assets like Terra’s UST, staked ether, and stETH. According to the lawsuit and tweets by Jason […]

Kraken CEO defends his back to dictatorship’ crackdown

Jesse Powell, Kraken CEO, was under fire last month after making provocative remarks that sparked a workplace dispute and exposed the company’s unique corporate culture. A New York Times report based upon leaked Slack messages from employees and interviews with Powell claimed Powell made insensitive comments about gender and race. This sparked heated discussions within […]

The EU’s crypto rules almost here

Good morning and welcome to Protocol Fintech. We hope you had a wonderful Fourth! This Tuesday: MiCA moves forward. Love and bitcoin are on the horizon. Klarna is still down. “If you love nothing, no one will love you back.” You might think I’ve been reading “GuRu”, RuPaul, again. But this was Michael Saylor talking […]

Trading service eToro has terminated its SPAC deal

The company announced Tuesday that eToro, a stock and crypto trading platform, has canceled a SPAC merger. It will remain private. The company also announced that it will be laying off approximately 6% of its employees. The Betsy Cohen-led FinTech Acquisition Corp. and eToro jointly stated Tuesday that they had not met the agreed-upon closing […]

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