First Mover Americas: BlockFi the Latest Chapter (11) in FTX Saga
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Latest PricesCoinDesk Market Index (CMI) 844.11 +18.8 ▲ 2.3% Bitcoin (BTC) $16,484 +272.0 ▲ 1.7% Ethereum (ETH) $1,217 +46.3 ▲ 4.0% S&P 500 futures 3,980.75 +10.5 ▲ 0.3% FTSE 100 7,528.84 +54.8 ▲ 0.7% Treasury Yield 10 Years 3.7% ▲ 0.0 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
Crypto lender BlockFi filed for Chapter 11 bankruptcy protection on Monday, saying it hoped to restructure while it continues its operations. BlockFi received a $400 million line of credit from bankrupt exchange FTX earlier this year and has about $257 million in cash on hand, according to a press release.
BlockFi sued FTX founder Sam Bankman-Fried for his Robinhood Market shares on Monday. Bankman-Fried, through his Emergent Fidelity Technologies holding company, pledged his stake in the online trading company as collateral for a loan.
Crypto exchange Huobi’s token, HT, climbs 15% over the past 24 hours after the firm announced a partnership with the Commonwealth of Dominica. Blockchain developer Tron and DMC Labs will issue a national token called dominica coin (DMC) and a digital identity, or DID. Huobi will provide Dominica DID status to every registered user.
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