BlockFi is reportedly filing for bankruptcy amid FTX contagion

    Crypto lender BlockFi would file for Chapter 11 bankruptcy protection, an insider said. BlockFi is the latest crypto firm to file for bankruptcy after the collapse of FTX’s crypto empire. In an official statement, the company said it “will focus on recovering all obligations owed to BlockFi,” but that “recoveries from FTX will be delayed”…

    UAE regulators concern over too hastily crypto approvals amid FTX collapse

    As Bloomberg reported, many crypto hedge funds operating in the UAE had invested all their client money on FTX, giving them a hard time pulling funds out of the exchange. As a result, UAE officials expressed concerns over the pace of some approvals – that failed to identify meltdowns of FTX and Three Arrows Capital….

    How does the FTX debacle affect Dubai’s crypto sector – local industry experts

    Dubai’s crypto industry leaders commented on how the FTX collapse will affect the crypto sector within the UAE. Among them, various professionals gave their perspectives on how Dubai and the UAE’s crypto landscape will be affected by the FTX debacle – from stricter regulations to better projects leading the way. Kokila Alagh, the founder and…

    Genesis hires a restructuring adviser; bankruptcy is not ruled out

    Troubled crypto lender Genesis Global Capital has hired specialists from Moelis & Company to consider restructuring options, including a potential bankruptcy, The New York Times reported, citing sources familiar with the matter. The crypto broker hasn’t made any decisions yet as there was still a possibility for the company to avert a bankruptcy filing, the…

    Near Co-Founder: Crypto didn’t fail FTX; people did

    Decentralization was and still is the answer, the co-founder of Near Protocol Illia Polosukhin told CoinDesk. The spectacular $32 billion collapse of the FTX exchange and its sister trading firm Alameda Research recently once again has crypto’s detractors gloating in the headlines. In fact, FTX bears no resemblance to most of what the longtime believers…

    Four key takeaways from the fiasco of FTX

    The real reason why the FTX failure hits so hard is not that the crypto industry was duped but because it proved that the industry was vulnerable to being duped – Sam Kessler explains on CoinDesk. Depending upon whom you ask, last week’s FTX blowup feels bigger than when Mt. Gox, the original Bitcoin exchange,…