Genesis Global Files for Bankruptcy Amidst Ethereum Moves by 0xd62 Wallet

– Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection after being pummeled by two of 2022’s biggest industry collapses.
– 0xd62, a Genesis OTC wallet, just had one of the biggest movements of ETH ever, just as its corporate sibling filed for bankruptcy. Its big transfers tend to coincide with big events at the company.
– Former SEC Enforcement Branch Chief and Bragança Law Managing Partner Lisa Bragança discusses what to expect from its first bankruptcy hearing and whether Genesis’ trading business is free of liability as the company’s trading arm continues to move money around on blockchains.

In recent news, Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection amidst two of the biggest industry collapses of 2022. At the same time, its OTC wallet 0xd62 had one of the biggest movements of Ether (ETH) ever. This wallet is known for its big transfers that tend to coincide with big events at the company.

In light of this bankruptcy filing, former SEC Enforcement Branch Chief and Bragança Law Managing Partner Lisa Bragança discussed what to expect in the first bankruptcy hearing and whether Genesis’ trading business is free of liability as the company’s trading arm continues to move money around on blockchains. Bragança stated that the bankruptcy court will be assessing the value of the assets held by the company and its creditors, as well as determining what kind of protection creditors and debtors have under the Bankruptcy Code.

Furthermore, Bragança noted that while the bankruptcy filing could protect the trading arm of the company from potential liability, it will not necessarily absolve them of any legal culpability. She explained that any wrongdoing or prohibited activities carried out by the company may still be subject to investigation and prosecution.

The movement of Ether from 0xd62, a Genesis OTC wallet, was especially notable due to the timing of the bankruptcy filing. This wallet has been known for its large transfers that often coincide with important events at the company. Although the transfers are believed to be for legitimate business activities, the timing has raised questions about the nature of the transactions and the company’s intentions.

Given the complexity of the case and the potential implications, the bankruptcy hearing and the subsequent investigation may take some time to yield results. In the meantime, it is important to note that the company’s trading arm is still operational and continues to move money around on blockchains. This means that it is still important to be vigilant and aware of any potential red flags that may arise during the course of the proceedings.

Overall, the filing of Chapter 11 bankruptcy protection by Genesis Global Holdco LLC is an important event that could have far-reaching implications for the company and the crypto industry as a whole. The movement of Ether from 0xd62, a Genesis OTC wallet, just as the bankruptcy filing was announced has added to the intrigue surrounding the case. As the bankruptcy court and legal teams investigate the matter, it will be important to stay informed and up to date about any developments that may arise.

Crypto Market Booms: Bitcoin Reaches $20K, Ethereum Soars to $1.5K

• Bitcoin has retaken the $20K mark, leading a broad crypto rally this week.
• Ethereum has also surged more than 20% year to date and is approaching $1,500.
• Crypto-related stocks have also seen gains, with Coinbase and Marathon Digital Holdings up 39% and 76%, respectively.

The cryptocurrency market has been on a wild ride this week, with bitcoin leading the charge. After hovering around the mid-$16,000 mark for the past few weeks, BTC surged to above the $20,000 mark, marking a 20% increase in the opening two weeks of the year. This is the first time that bitcoin has been above the $20K mark since the FTX collapse in early November.

The second largest cryptocurrency by market capitalization, ether (ETH), has also seen impressive gains. It is currently trading near $1,500, having gained more than 20% year to date. This marks the first time ETH has been at this price since early November.

The crypto rally has been accompanied by gains in crypto-related stocks. Exchange Coinbase (COIN) has seen a 39% increase, while bitcoin miner Marathon Digital Holdings (MARA) has jumped 76%.

The overall crypto market has seen gains as well, with CoinDesk’s Market Index (CMI) rising 14% for the week. Such an impressive start to the year has many speculating that bitcoin may be entering a renewed bull market. Craig Erlam, senior market analyst at foreign exchange market maker Oanda, believes that $20,000 “once [was] deemed a disturbing low but now potentially represents a sign of a revival.”

Time will tell if the crypto rally will continue, but for now, it appears that the market is in a strong position. With the crypto-related stocks also seeing gains, it looks like the crypto market is headed in the right direction.

Block’s Digital Wallet: Take Control of Your Crypto with Self-Custody

• Block, a payments company led by Twitter co-founder Jack Dorsey, is working on a digital wallet to allow customers to hold Bitcoin directly.
• This follows the collapse of FTX, with the future of crypto being self-custody.
• Max Guise, Bitcoin Wallet Lead at Block, spoke with CoinDesk about the company’s plans for crypto and the future of self-custody.

The payments company Block, led by Twitter co-founder Jack Dorsey, is working on a digital wallet to allow customers to take control of their money and hold Bitcoin (BTC) directly. This follows the collapse of FTX, with the future of crypto being self-custody.

Max Guise, Bitcoin Wallet Lead at Block, spoke with CoinDesk’s Christine Lee at CES 2023, a tech conference in Las Vegas, about the company’s plans for crypto and the future of self-custody in the wake of FTX’s collapse. According to Guise, Block wants to put customers in control of their money and the best way to ensure customer funds are not gambled with is to not be able to do so in the first place.

Block’s digital wallet is designed to make it easier for customers to securely store their own Bitcoin, without the need for a third party to manage it. The wallet will also feature advanced security features, such as multi-signature support, that will ensure the safety of users’ funds. Additionally, it will also include a user-friendly interface to make it easier for users to monitor their portfolios and make transactions.

In addition to its digital wallet, Block is also working on other products to make it easier for users to manage their cryptocurrencies. These include a crypto-to-crypto exchange and a payments platform, both of which are designed to make it easier for customers to manage their crypto assets.

Overall, the future of crypto looks to be one of self-custody, with Block leading the way with its digital wallet and other products. With these products, customers will be able to take control of their own funds and manage their cryptocurrencies in a secure and user-friendly environment. This will help to ensure the safety of users’ funds and make it easier for them to make transactions and monitor their portfolios. As the crypto industry continues to grow, self-custody will become increasingly important, and Block is taking the necessary steps to ensure that its products are at the forefront of this trend.

Smart TVs Get Web3 Upgrade: Explore NFTs & Metaverse Platforms Now!

• Smart TVs from major manufacturers such as Samsung and LG are now featuring Web3 features such as NFT marketplaces and metaverse platform integrations.
• These features are part of a bid to ensure their sets appeal to a tech-savvy and, in the long term, potentially influential customer base.
• Web3 companies see smart TVs as a possible path to reaching a mass audience.

Smart TVs are quickly becoming the most sought-after devices on the market, and the latest models from the top manufacturers are now featuring Web3 features. Samsung and LG have both released new smart TVs which come equipped with NFT marketplaces and metaverse platform integrations. These features are meant to appeal to a tech-savvy customer base, while also providing a potential path to reaching a mass audience for Web3 companies.

The latest generation of smart TVs are designed to be user-friendly and easy to navigate, with features like voice-control capabilities and streaming apps. However, with the addition of Web3 features, these TVs are now much more than just entertainment devices. For instance, users can now browse through NFT marketplaces and even access metaverse worlds with the click of a button. This makes it possible for users to explore the world of Web3 without having to purchase any additional hardware.

The potential of smart TVs for Web3 companies is huge. With the large market share of Samsung and LG, and their integration of Web3 features, users now have easy access to explore these worlds. This could help Web3 companies to reach a larger audience, while also providing the tech-savvy customers with the ability to explore the latest in digital entertainment.

Ultimately, the combination of smart TVs and Web3 features is an exciting development for both consumers and companies. Web3 companies can now reach a larger audience, while customers can explore these worlds without having to purchase additional hardware. This could be the start of a revolution in digital entertainment, and it will be interesting to see how these new features continue to evolve in the future.