Binance and WazirX have been in an ownership dispute since 2022. WazirX laid off 40% of its workforce due to macroeconomic conditions. The crisis between crypto exchange Binance and Zanmai Labs, the company operating the Indian exchange, WazirX, reached a new level on Friday after Binance announced that it had banned the company from using its services. According to a blog post shared on Friday, Binance has requested that Zanmai Labs negotiate terms for withdrawing any remaining funds stored in Binance wallets. The solution apparently puts an end to concerns about what would happen to ..read more

Bitcoin miner Marathon Digital sold 1,500 BTC tokens last month and currently holds 11,418 BTC, of which 8,090 BTC are unrestricted. The company produced a record 687 Bitcoin in January 2023, which is a 45% increase from the 475 BTC tokens in December 2022. Marathon has made the “strategic decision” to sell some of its BTC holding in 2023 to cover some of the operating expenses. The miner has also signed a deal with FS Innovation, LLC, regarding the formation of an Abu Dhabi Global Markets company. Bitcoin mining companies have gotten into trouble recently following the price crash of the w ..read more

A ban on crypto trading in the United States looks highly unlikely. But lawmakers have called for stronger policies. Charlie Munger and Warren Buffet believe cryptocurrencies are not real assets. Charlie Munger, Berkshire Hathaway’s Vice Chairman, has advised the U.S. government to ban cryptocurrencies like China did, noting that a lack of regulation has created a gambling mentality. Munger has not hidden his dislike for cryptocurrencies despite the growth of the industry. In an op-ed published on Thursday, the 99-year-old finance guru noted that, A cryptocurrency is not a curr ..read more

Celsius published a 1,400 page document in bankruptcy court allowing eligible customers to withdraw 94% of their digital assets. All the eligible users will receive an email confirming their eligibility on or around February 15. “Whether Eligible Users are able to withdraw the remaining 6% will be decided by the Court at a later date,” stated Celsius. The crypto lender has asked eligible users to update their accounts with certain information, citing security reasons for the same. Millions of users were affected by the collapse of crypto lending giant Celsius Network, which will go down in ..read more

Prosecutors called for an amendment to Bankman-Fried’s bail conditions following concerns that he reached out to former employees. Bankman-Fried’s lawyer, Mark Cohen, argued that preventing his client from reaching out to former employees denied him access to his “friends.” A hearing on the case has been set for February 7. A New York judge has reportedly banned former FTX CEO Sam Bankman-Fried from contacting any former or current FTX or Alameda Research employees as he continues to await his trial. Judge Lewis Kaplan of the Southern District of New York ruled that the decision was par ..read more

Independent examiner for the Celsius bankruptcy case, Shoba Pillay, stated that Celsius Network was operating like a Ponzi in his report. Pillay said that the company “conducted its business in a starkly different manner than how it marketed itself to its customers.” Customers were told that they would be able to “unbank” themselves and enjoy “financial freedom,” Pillay noted. The company hid the fact that it was unable to sell all CEL tokens during ICO and also that they manipulated the token’s price. One of the biggest crypto lending platform which enjoyed unmatched success in the 2021 cr ..read more

Rally said the decision to shut down its services was due to a lack of support. Rally users previously complained of their inability to withdraw their rewards from the platform. The social tokens platform claims it has not abandoned its goal of empowering communities through Web 3. Rally, an Ethereum-based social token platform, announced on Tuesday that it has decided to shut down. The community received the news through email, which announced that NFTs on its sidechain would no longer be available. The social token platform wrote in the announcement, As most of you are aware, 2022 was a ..read more

Elon Musk plans to turn Twitter into a “super app” with the introduction of a payments system that will initially support only fiat currencies. While fiat currencies are the “first and foremost” priority for the company, crypto payments will be allowed if the opportunity arises. Twitter was working on a crypto wallet in 2022 but the idea was dropped after more than 70% of the workforce was let go. Binance CEO, who also contributed to the takeover of Twitter, stated that he plans to bring Web3 into the social media platform. According to a report from the Financial Times on January 30, two p ..read more

SBF’s lawyer, Mark Cohen, wrote a letter to United States District Court Judge Lewis Kaplan as per Jan. 28 court documents. Cohen asked Kaplan to let the former FTX CEO access the funds belonging to the exchange. The lawyer also asked the judge to allow SBF to have unlimited contact with his therapist and his father. Cohen also asked Kaplan to allow Bankman-Fried to contact any employee or agent of a foreign regulator outside the presence of attorneys. The founder of the former multi-billion dollar crypto exchange, Sam Bankman-Fried, also known as SBF in the crypto space, is making moves de ..read more

FTX founder SBF contacted a crucial witness, attempting to “reconnect and see if there’s a way for us to have a constructive relationship.” US attorneys seek to restrict the access that SBF has to encrypted communication platforms to prevent him from contacting former employees. SBF also directly opened a communication line with the current general counsel of FTX US. The former FTX CEO also communicated with employees of the exchange as well as Alameda Research via email and Signal The founder of crypto exchange FTX, Sam Bankman-Fried, also known as SBF in the crypto space, made an attempt ..read more