The creator of the now-defunct Turkish crypto exchange Thodex, Faruk Fatih Özer, was found guilty of cheating 400,000 users out of nearly $2 billion in bitcoins and received a sentence of 11,196 years, ten months…
Prime Trust, a former prominent custodian of cryptocurrencies, filed for bankruptcy protection in Delaware. This comes after the Nevada Financial Institutions Division raised concerns about the company’s operations, stating that they were being conducted in…
After a series of events in November 2022, the giant crypto exchange announced bankruptcy and became insolvent. Meanwhile, a US bankruptcy court has permitted FTX’s liquidators to sell off their four active subsidiaries- Embed, LedgerX, FTX…
The rapid growth of cryptocurrencies has presented a distinct set of challenges for both established financial institutions and emerging cryptocurrency companies. As the crypto market experiences turbulence and collapses among crypto-friendly lenders, it has become…