FTX

Avrio Announces The Appointment of Co-Founder Lawrence Wintermeyer as CEO

Retrieved on: 
Friday, February 16, 2024
FTX, API, MBA, GDF, ATS, Bankruptcy, COVID-19, Fintech, FINRA, SVB, Cryptocurrency

NEW YORK, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Avrio Worldwide (Avrio) has announced that it has appointed co-founder Lawrence Wintermeyer as CEO.

Key Points: 
  • NEW YORK, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Avrio Worldwide (Avrio) has announced that it has appointed co-founder Lawrence Wintermeyer as CEO.
  • Wintermeyer has held roles chairing regulated alternative investment funds in managed futures, energy, and global reinsurance following a career in advisory services in Big 4 management consultancy serving the global financial services sector.
  • Arkonis uses the technology to operate an ATS, a qualified matching engine, and a quotation bureau in the United States.
  • Says Wintermeyer, “I am delighted on the appointment to CEO.

UnitedLex Source Code Analysis Uncovers Crucial Evidence Leading to a 5G Standard Patent Infringement Verdict Awarding $67.5 Million, Plus Ongoing Royalties

Retrieved on: 
Tuesday, February 6, 2024
Irell & Manella, Patent, FTX, District court, McKool Smith, Intellectual property, Electronics, Samsung, Mobile phone

“Effective source code review is critical to evidence detection in software litigations,” said Joe Dearing, UnitedLex Executive Vice President, Intellectual Property.

Key Points: 
  • “Effective source code review is critical to evidence detection in software litigations,” said Joe Dearing, UnitedLex Executive Vice President, Intellectual Property.
  • UnitedLex has previously supported these firms with technical evidence collection services in support of other winning verdicts.
  • The recent, high-profile case brought against FTX and Sam Bankman-Fried highlights that source code review can play a critical role in evidence detection in litigation across many diverse domains.
  • With its deep bench of technical experts, UnitedLex has supported more than 200 patent litigation cases across a variety of technologies.

Portal Raises $34 Million Seed Round to Support Development of Decentralized Bitcoin-Based Exchange

Retrieved on: 
Tuesday, January 30, 2024
Professional Services, Data Management, Other Professional Services, Blockchain, Technology, Cryptocurrency, Fintech, Orbit, FTX, HECO, Privacy, Human, API, Risk, Decentralized finance, DEX, BNB

The seed funding builds on Portal’s angel round of $8.5 million , which closed in 2021.

Key Points: 
  • The seed funding builds on Portal’s angel round of $8.5 million , which closed in 2021.
  • Portal will use the funds to develop its two flagship products: Portal DEX and Portal Wallet .
  • Portal Wallet is a fully non-custodial tool that integrates Portal DEX and allows users to receive, store and send cryptocurrencies across blockchains.
  • “The Portal platform is a game-changer, making decentralized trading and financial contract creation for Bitcoin and other assets both faster and more secure.

Securities Class Action Filing Activity Increased Slightly in 2023, Reversing Recent Years' Declines

Retrieved on: 
Wednesday, January 31, 2024
Crypto, FTX, COVID-19, Security (finance), Cornerstone Research, Stanford Law School, MDL, DDL, Cryptocurrency

MENLO PARK, Calif., Jan. 31, 2024 /PRNewswire-PRWeb/ -- The number of securities class action lawsuits increased slightly in 2023, reversing the trend of decline over the last three consecutive years, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse.

Key Points: 
  • MENLO PARK, Calif., Jan. 31, 2024 /PRNewswire-PRWeb/ -- The number of securities class action lawsuits increased slightly in 2023, reversing the trend of decline over the last three consecutive years, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse .
  • The report, Securities Class Action Filings—2023 Year in Review , found that plaintiffs filed 215 securities class action lawsuits in federal and state courts in 2023, up slightly from 208 filings in 2022.
  • The number of "core" filings—those excluding M&A filings—also increased slightly from the previous year.
  • Conversely, the aggregate filing size as measured by Maximum Dollar Loss (MDL) increased to $3.2 trillion, the second-highest amount on record.

Dave's Repurchase of FTX Convertible Note for $71 Million Finalized

Retrieved on: 
Tuesday, January 30, 2024
Growth, FTX, Investment

LOS ANGELES, Jan. 30, 2024 /PRNewswire/ -- Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today announced the closing of its transaction with FTX Ventures Ltd. ("FTX") to repurchase a convertible note (the "Note") that it issued to FTX with an original principal balance of $100 million, for a discounted purchase price of $71 million. This purchase price represents 67 percent of the $105.5 million outstanding balance as of December 31, 2023. The transaction closed on January 29, 2024. 

Key Points: 
  • LOS ANGELES, Jan. 30, 2024 /PRNewswire/ -- Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today announced the closing of its transaction with FTX Ventures Ltd. ("FTX") to repurchase a convertible note (the "Note") that it issued to FTX with an original principal balance of $100 million, for a discounted purchase price of $71 million.
  • This purchase price represents 67 percent of the $105.5 million outstanding balance as of December 31, 2023.
  • Prior to this transaction closing, Dave had $181 million of total liquidity as of September 30, 2023, which included $171 million of cash, cash equivalents, marketable securities, short-term investments and restricted cash as well as $10 million of undrawn capacity on its credit facility.
  • "The closing of this transaction is an exciting step forward for Dave and represents a unique opportunity to create value for our shareholders.

EQS-News: Stefan Kühn: Bitcoin - Analysis of the current market situation and future prospects

Retrieved on: 
Tuesday, January 30, 2024
Silicon, Lehman Brothers, Uncertainty, Imagination, Credit Suisse, News, BTC, FTX, Silicon Valley Bank, Cryptocurrency

As an economist, I analyse the current market situation and take a look at Bitcoin's future prospects.

Key Points: 
  • As an economist, I analyse the current market situation and take a look at Bitcoin's future prospects.
  • The collapse of FTX and the tightened regulation of Binance by the SEC also put Bitcoin to the test.
  • Global political and economic uncertainty, increasing regulation and potential technological challenges could impact the future of Bitcoin.
  • Bitcoin remains a highly volatile asset and the future of the cryptocurrency depends on a variety of factors.

Gate.io's Proof of Reserves Report Reveals $4.3B in Assets with 115% Reserve Ratio for 171 Assets

Retrieved on: 
Wednesday, January 24, 2024
Hacken, Por, FTX, Privacy, Merkle, Cryptocurrency

It ensures users can safely and confidently participate in the market and promotes best practices among exchanges.

Key Points: 
  • It ensures users can safely and confidently participate in the market and promotes best practices among exchanges.
  • We will continually respond to input from users, external experts, and peers to ensure security, privacy, and transparency in our reserves reporting."
  • This was repeated in 2022 before FTX's collapse, when Gate.io encouraged others to follow, releasing its method as open source.
  • The November 2023 report utilized the previously mentioned upgrades, making Gate.io's PoR the most extensive of any exchange.

Gate.io's Proof of Reserves Implementation Passes Hacken's Security Audit

Retrieved on: 
Monday, January 22, 2024
Hacken, Por, CBDO, FTX, ZK, Blockchain, Privacy, BK Häcken, Merkle, Cryptocurrency

Hacken's security audit process involves a rigorous analysis of the code and functionality of Gate.io's PoR, checking it against known vulnerabilities.

Key Points: 
  • Hacken's security audit process involves a rigorous analysis of the code and functionality of Gate.io's PoR, checking it against known vulnerabilities.
  • Gate.io will further iterate and improve its PoR as part of its ongoing commitment to user asset security.
  • At Hacken, we initiated our Proof of Reserves journey in 2019, laying the groundwork with extensive market research.
  • Proof of Reserves will soon become a standard for custodians, exchanges, lenders, and stablecoin issuers”, said Yevheniia Broshevan, Co-Founder & CBDO at Hacken.

Bitget Report Reveals 33% of Crypto Job Applicants Come From Banking

Retrieved on: 
Thursday, January 25, 2024
KYC, JPMorgan Chase, Investment, Microsoft, Citigroup, CFOS, Morgan Stanley, BlackRock, HSBC, Blockchain, Goldman Sachs, Statistics, Workforce, FTX, AML, Engineering, Growth, Cryptocurrency

VICTORIA, Seychelles, Jan. 25, 2024 /PRNewswire/ -- Bitget , the world's leading cryptocurrency exchange and Web3 company, released a comprehensive report revealing that one-third of crypto job applicants are former employees of the banking and financial sectors.

Key Points: 
  • VICTORIA, Seychelles, Jan. 25, 2024 /PRNewswire/ -- Bitget , the world's leading cryptocurrency exchange and Web3 company, released a comprehensive report revealing that one-third of crypto job applicants are former employees of the banking and financial sectors.
  • The result is a brain-drain from traditional banking, driving reevaluation of hiring approaches and compensation offers on the part of the latter.
  • Gracy Chen, Managing Director of Bitget, stated, "Bitget's latest report sheds light on the remarkable transformation occurring in the financial job market, as crypto gains momentum and decentralization reshapes traditional banking.
  • Such a shift may lead to increased mergers and acquisitions in both markets, impacting job reductions and transforming the labor market.

Bitget Report Reveals 33% of Crypto Job Applicants Come From Banking

Retrieved on: 
Thursday, January 25, 2024
KYC, JPMorgan Chase, Investment, Microsoft, Citigroup, CFOS, Morgan Stanley, BlackRock, HSBC, Blockchain, Goldman Sachs, Statistics, Workforce, FTX, AML, Engineering, Growth, Cryptocurrency

VICTORIA, Seychelles, Jan. 25, 2024 /PRNewswire/ -- Bitget , the world's leading cryptocurrency exchange and Web3 company, released a comprehensive report revealing that one-third of crypto job applicants are former employees of the banking and financial sectors.

Key Points: 
  • VICTORIA, Seychelles, Jan. 25, 2024 /PRNewswire/ -- Bitget , the world's leading cryptocurrency exchange and Web3 company, released a comprehensive report revealing that one-third of crypto job applicants are former employees of the banking and financial sectors.
  • The result is a brain-drain from traditional banking, driving reevaluation of hiring approaches and compensation offers on the part of the latter.
  • Gracy Chen, Managing Director of Bitget, stated, "Bitget's latest report sheds light on the remarkable transformation occurring in the financial job market, as crypto gains momentum and decentralization reshapes traditional banking.
  • Such a shift may lead to increased mergers and acquisitions in both markets, impacting job reductions and transforming the labor market.