Browsing: Bloomberg

Changpeng “CZ” Zhao has asked a U.S. bankruptcy court to dismiss FTX’s $1.76 billion clawback lawsuit, claiming the court lacks jurisdiction over a foreign resident involved in offshore transactions. Summary CZ seeks dismissal of FTX’s $1.76B clawback suit, citing lack of U.S. jurisdiction.The disputed 2021 share deal involved offshore entities and foreign transfers.Motion claims U.S. bankruptcy law doesn’t apply; ruling is still pending. The request was filed on Au

The Blockchain-based lender platform, Figure, is set to make its debut in the stock markets after filing for a U.S. initial public offering confidentially this week. Summary Blockchain-based lending platform Figure files S-1 form confidentially with the U.S. SEC.Figure becomes one of many crypto firms to file for a public listing on the market in the wake of the Trump administrations support for the crypto industry. In a recent Bloomberg report, it was revealed that

The Bitcoin network is expanding on an industrial scale, with power-hungry mining rigs driving energy consumption to unprecedented highs even as the flow of transactions slows to a trickle. Yet, the network seems to be under tension as rising hashrate and infrastructure collide with weak fee revenue and rare mempool clearings that leave miners earning little beyond the block subsidy. Summary Bitcoins mining network is growing into an energy-intensive giant, drawing more