https://www.coindesk.com/business/2023/02/08/bitcoin-atm-operator-coin-cloud-files-for-bankruptcy-with-liabilities-of-100m-500m/
Coin Cloud, which operates more than 4,000 bitcoin ATMs across the U.S. and Brazil, has filed for bankruptcy protection with estimated liabilities of between $100 million and $500 million.
The Las Vegas-based firm has assets of between $50 million and $100 million and as many as 10,000 creditors, according to a filing in the U.S. Bankruptcy Court for the District of Nevada dated Feb. 7.
The company's largest creditor is Genesis Global Trading, which has an unsecured loan of just over $100 million. Genesis is a subsidiary of Digital Currency Group, which is also the parent company of CoinDesk. Genesis also discussed injecting equity into the ATM operator, Bloomberg reported in November.
Coin Cloud hired legendary filmmaker Spike Lee to direct a commercial for it in 2021.
Telegram CEO Pavel Durov addressed his recent arrest, revealing he was questioned by French authorities for four days over alleged platform misuse. Denying the claims, Durov criticised the investigation and pledged to improve moderation on Telegram. His statement also led to a rise in TON's value.
CatherineThe FCA has rejected over 87% of crypto registration applications due to strict anti-money laundering rules, causing frustration and delays. As a result, many firms are leaving the UK to operate in more lenient regions.
AnaisCatizen has set the launch of its $CATI token to 20 September, after a delay from July. The token, minted on TON, will be listed for spot trading on Bybit the same day. Trading will begin post-TGE and an airdrop is expected on or shortly after this date.
KikyoCZ, set for release on 29 September, faces a lifetime ban from managing Binance under his plea agreement. While CZ downplays its significance, the question remains: is this a career-ending move or a chance for new opportunities beyond Binance?
CatherineCryptocurrency scams, known as "pig butchering," lure victims into false investments, causing financial ruin and emotional devastation. Victims face lost savings, and some are even forced into scam operations through human trafficking.
WeatherlyTelegram has revised its FAQ page, removing the statement that private chats were immune to moderation following CEO Pavel Durov’s arrest. Previously, the FAQ suggested private chats were secure from moderation.
KikyoAnt Group has launched "Zhixiaobao," an AI-powered life assistant app that integrates various services like payments, ordering, and booking through Alipay. This move reflects Ant’s shift towards AI-driven solutions after facing regulatory challenges and a significant fine in 2023.
WeatherlyMagic Eden has launched two distinct domains, magiceden.us for US users and magiceden.io for international users, to cater to regional needs and regulations. Despite a market downturn, Magic Eden remains a leading NFT marketplace with a $122.47 million trading volume in August 2024, holding a 36.7% market share.
AnaisWith deepfakes rising in generative AI, YouTube plans to introduce two tools to protect creators' intellectual property. While the details of these tools are promising, the platform has yet to disclose their official release dates.
CatherineAt the 2024 Shanghai Bund Conference, Ant Financial announced its business progress and strategic layout for the first time after its independence. Its chief scientist Yan Ying said that the Web3 industry has entered a new stage of asset integration.
Alex