cryptocurrency funding

Genesis meltdown: Inside a Once-$10 Billion Crypto Empire That’s Suddenly Cracking

17Nov

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Technology

Genesis meltdown: Inside a Once-$10 Billion Crypto Empire That’s Suddenly Cracking

[ad_1] Suspended withdrawals at cryptocurrency brokerage Genesis amid the widening crypto-market meltdown have cast an unwanted spotlight on Barry Silbert. Suspended withdrawals at cryptocurrency brokerage Genesis amid the widening crypto-market meltdown have cast an unwanted spotlight on Barry Silbert, the man at the helm of the Digital Currency Group empire.Silbert, who rarely does press interviews or speaks at the multitude of industry conferences, founded the Stamford, Connecticut-based crypto conglomerate DCG in 2015, according to the 46-year-old's LinkedIn profile. Last year, DCG's valuation reached $10 billion, after it sold $700 million of stock in a private sale led by SoftBank Group Corp. DCG had 66 employees at the start of November and holds more than 200 companies in its ...

Winklevoss Faithful Have a $700 Million Problem in Genesis Halt

[ad_1] The billionaire Winklevoss twins, owners of the Gemini crypto exchange, have always portrayed themselves as the grownups in the room. The billionaire Winklevoss twins, owners of the Gemini crypto exchange, have always portrayed themselves as the grownups in the room. The ones who ordinary investors could trust.None of that is sparing a chunk of Gemini's customers from the fallout triggered by FTX's collapse, which risks taking down a big swath of the industry. The trouble stems from a product called Gemini Earn -- which lets investors accrue as much as 8% in interest by lending out their crypto, including Bitcoin, Ether or stablecoins pegged to the dollar. It's a kind of product, widely used throughout crypto, that looks and feels very much like high-yield savings accounts, bu...

Misuse of social media, dark web, cryptocurrency among key issues India will raise

[ad_1] "The dark web brings together professional hackers and those terrorists seeking to crowdsource or transfer funds. India will raise major issues like lack of universal consensus on laws regarding cybercrimes; weak control mechanisms of social media platforms and their misuse by terrorist and extremist groups, the dark web and crypto-currency in the upcoming international 'No Money For Terror' Ministerial Conference this week, top government sources said.Crowdfunding; anonymous, decentralised and untraceable nature of terror financing; effective multilateral and multi-stakeholder approach in identification and mitigation of threats of emerging terror-financing mechanisms; misuse of non-profit and nongovernment organisations as front structures for financing terror activities are ...