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Source: AdobeStock / Timon The troubled crypto firm Genesis has reached an agreement with key creditors that would involve a sale of the crypto lending and trading arm of the company. As part of the new agreement, Barry Silbert’s massive crypto conglomerate Digital Currency Group (DCG) will exchange its existing $1.1bn promissory note for convertible preferred stock that will be issued by DCG. Additionally, DCG would refinance existing 2023 term loans through a new term loan made payable to creditors worth approximately $500m. The agreement further stated that DCG will “contribute its equity interest” in Genesis Global Trading to a holding company known as Genesis Global Holdco. This would bring all Genesis entities under the same umbrella, and effectively means that DCG would sell off the crypto lending and trading arm of Genesis. According to Genesis, the agreement will “maximize value for all Genesis clients and stakeholders....

Crypto markets have seen huge swings over the past few weeks, with Bitcoin and Ethereum prices suddenly increasing and decreasing. This has been a turbulent time for investors in the digital currency space. On Monday, Bitcoin (BTC) saw its value plummet to below $23,000 as investors waited to hear from Jerome Powell, Federal Reserve Chairman. Other digital assets, such as Ethereum, were also flat, with BTC falling by 2.05% and ETH dropping by 2.36%. The major influencers in the cost of Bitcoin and other assets were an increase in fear surrounding the pandemic and a choppy crypto market. The combination of these elements has resulted in heightened trading activity with digital currencies.  The US dollar's bullishness has had a considerable impact on the crypto space, adding to the crypto market's struggles and causing a cessation of the crypto boom. Recently, many negative factors have led to a decline in the cryptocurrency market. T...

Despite a pullback from earlier session highs in the broader cryptocurrency market on Thursday, dog-inspired meme coin Shiba Inu (SHIB), which lives as an ERC-20 token on the Ethereum blockchain, is pushing higher. The crypto token, which is the second most popular meme coin after Dogecoin, was last trading in the region of 3.0% higher on the day, and is up around 9% since bouncing from its 21-Day Moving Average on Wednesday ahead of the not-as-hawkish-as-feared Fed meeting. Some analysts are saying that recent news that Canadian crypto payment gateway FCF Pay has added the main Shiba Inu ecosystem tokens (SHIB, LEASH and BONE) to its prepaid Visa and Mastercard cards is giving Shiba Inu a boost. FCF Pay cardholders will now be able to preload their cards with up to $5000 worth of SHIB, LEASH and BONE, as well as other cryptocurrencies like Bitcoin and major stablecoins. SHIB Primed to Explode? SHIB/USD was last changing hands around $0.0000125, up an impressive mor...

Trent Rhode / Midjourney AI After reaching impressive heights in late 2021, the world's largest cryptocurrency, Bitcoin, experienced a steep decline, falling from a record-breaking high of $69,044.77 in November 2021 to $16,400 in November 2022.  This significant drop of over 76% was attributed to a number of factors, including the collapse of FTX , related bankruptcies in the industry, and growing concerns over regulations. Despite these challenges, many analysts remain optimistic about the future of cryptocurrencies and their potential for growth. So, what are some of the best altcoins to buy with this in mind? The Case for a Continued Crypto Bull Run and Best Altcoins to Buy First, let's look at the potential of crypto markets. As one example of the potential for crypto markets to continue growing, a recent survey conducted by the deVere Group , a leading financial consulting firm, found there may be a growing interest in cryptocurrencies among wealthy in...

Source: AdobeStock / konradbak Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Crime news A car "recently" intentionally rammed into a metal barricade outside the California, USA, home where FTX founder Sam Bankman-Fried is serving out his house arrest, the New York Post reported, citing the former CEO’s lawyers. Allegedly, three men exited the car and told a security guard: “You won’t be able to keep us out,” the attorneys claimed in a Manhattan federal court filing on Thursday. Security news Ransomware payments are down 40%, with attackers extorting at least $456.8 million in funds in 2022, compared to $765.6 million in 2021, according to a new report by blockchain forensics firm Chainalysis . "That doesn't mean attacks are down, or at least not as much as the drastic dropoff in payments would suggest," it said. "In...

The latest play-to-earn games platform, Meta Masters Guild , has raised $200,000 from eager investors just four days after its presale began. The project styles itself a guild and its mission is to become the go-to ecosystem for mobile-centric play to earn games. Interest in crypto gaming continues to grow as the decentralizing power of the technology is an excellent fit for gamers looking to take ownership of their in-game assets and game developers to monetize their work. Analyst s predict Meta Masters Guild to be the fastest-growing play-to-earn cryptocurrency this year with 10x potential. Buy MEMAG today and get 42% price uplift in stage 2 of presale The $MEMAG coin is in the 1st stage of a seven-stage presale. The token can currently be bought for $0.007 before the price jumps when the 1st stage target of $490,000 is reached. In stage 2 the price is $0.01, which represents a 42.8% uplift on the existing stage 1 price.  There are seven stages in the presal...