Greboca  

Web3 is going just great [English]  -  Three Arrows Capital founders seek funding for an exchange to enable customers to trade claims against firms 3AC helped to bankrupt

 -  22 janvier - 

"GTX" in blue capitals

Kyle Davies and Su Zhu, the founders of the bankrupt Three Arrows Capital crypto hedge fund, have joined forces with Mark Lamb and Sudhu Arumugam, the founders of the CoinFLEX platform, which is undergoing restructuring due to its own solvency issues. Davies and Zhu are still on the run from liquidators. What a dream team.

The group is seeking $25 million to create a cryptocurrency exchange they're calling "GTX" for now — which they write in the pitch deck is "because G comes after F".

Not only that, but the exchange plans to focus on claims trading — that is, the trading of claims held by creditors against debtors who are undergoing bankruptcy proceedings, like FTX, Celsius, BlockFi, or Mt. Gox (throwback!). The fact that 3AC was a major catalyst in kicking off the string of bankruptcies we saw throughout 2022 was not lost on observers, with Nic Carter of the Castle Island venture capital firm commenting that the endeavor "is akin to arsonists returning to the scene of the crime and offering to charge their victims for buckets of water".

par Molly White

Web3 is going just great [English]

A timeline recording only some of the many disasters happening in crypto, decentralized finance, NFTs, and other blockchain-based projects.

SEC charges Gemini and Genesis for allegedly offering unregistered securities

 -  28 janvier - 

The SEC filed charges against Genesis Global Capital and Gemini, two crypto firms that collaborated to create Gemini's embattled Earn lending (...)


Genesis files for bankruptcy

 -  28 janvier - 

The Genesis cryptocurrency lending platform filed for bankruptcy, following weeks of turmoil after the FTX collapse. Genesis halted withdrawals (...)


Hacked Azuki Twitter account enables theft of pricey NFTs and crypto priced at more than $1.74 million

 -  27 janvier - 

Hackers were able to compromise the Twitter account belonging to the popular Azuki NFT project, which they then used to promote a fake NFT drop (...)


Bithumb executives charged with embezzlement

 -  27 janvier - 

South Korean prosecutors filed charges against several executives of the Korean cryptocurrency exchange Bithumb. Those charged included its (...)


Porsche bungles NFT roll-out

 -  26 janvier - 

For some reason, Porsche decided they needed to release a set of Porsche 911 NFTs so that customers could buy "the opportunity to co-create (...)