Grayscale revealed as second-largest Bitcoin holder despite confidentiality efforts: Arkham Intellig

cyptouser9 months ago254
Blockchain analytical firm Arkham Intelligence identified Grayscale’s Bitcoin Trust as the second-la...

Grayscale legal team seeks SEC meeting over proposed Bitcoin ETF conversion

cyptouser9 months ago250
Grayscale legal team seeks SEC meeting over proposed Bitcoin ETF conversion
op executives at Grayscale have asked to meet with the U.S. Securities and Exchange Commis...

Marathon Digital Bitcoin mining production down 9% in August; CEO cites Texas heatwaves as contribut

cyptouser9 months ago202
Marathon Digital Holdings reported a 9% drop in Bitcoin (BTC) production in August 2023, with t...

Synapse token, TVL slide following major liquidity provider sell-off

cyptouser9 months ago254
Synapse token, TVL slide following major liquidity provider sell-off
Synapse Labs, the main contributor to the cross-chain bridge Synapse (SYN), confirmed that an unname...

$2.8 billion traded in Digital Asset ETPs this week as outflows slow

cyptouser9 months ago298
The digital asset market has experienced a minor cooling-off phase, with outflows totaling roughly U...

Arkham identifies Grayscale’s Ethereum Trust as second-largest ETH holder

cyptouser9 months ago218
Arkham Intelligence identified Grayscale’s Ethereum Trust as the second-largest Ethereum (ETH) holde...

Bitcoin price could hit $100k without U.S. spot ETF approval, says crypto fund CIO

cyptouser9 months ago210
Alistair Milne, the chief investment officer of Altana digital currency fund, said Bitcoin (BTC...

Robinhood strikes deal with U.S. Marshal Service to buy back shares seized from Sam Bankman-Fried

cyptouser9 months ago237
Robinhood strikes deal with U.S. Marshal Service to buy back shares seized from Sam Bankman-Fried

Robinhood‘s proposed deal to repurchase shares seized from Sam Bankman-Fried by the U.S. Marshal Service (USMS) has been approved by a federal court in the Southern District of New York.

As a result, Robinhood will be allowed to buy back shares seized from Bankman-Fried’s Emergent Fidelity Technologies for $605.7 million, according to a statement released by the company.

After FTX and Emergent filed for bankruptcy protection last year, the U.S. government took custody of Bankman-Fried’s Robinhood shares. In February, Robinhood announced its plan to repurchase the stake.

Cash, stocks, and crypto

According to the agreement, Robinhood will buy back 55.3 million shares at $10.96 each, utilizing corporate cash from its balance sheet, which featured over $6 billion in cash and investments as of its latest quarterly report.

Bankman-Fried, who previously held a 7.6% stake in Robinhood, had expressed no intentions of gaining control over the trading platform. He had voiced enthusiasm about Robinhood’s business prospects, hinting at potential partnerships with the platform. However, the sudden bankruptcy of FTX led to the seizure and dissolution of his fortune, which was once estimated to be around $26 billion.

The FTX founder sought to retain ownership of Robinhood shares worth $450 million. He vehemently disputed the bankrupt exchange’s “legal claims” over the assets, insisting that he and Gary Wang were the primary holders of the shares, not Alameda Research or any other entities implicated in the FTX bankruptcy.

Robinhood has demonstrated robust strength within the crypto market, underlined by its substantial holdings in Bitcoin (

Robinhood‘s proposed deal to repurchase shares seized from Sam Bankman-Fried by the U.S. Marshal Ser...

BlackRock’s Bitcoin strategy involves investments in top mining companies

cyptouser9 months ago233
...

1inch buys $10M Ethereum after major fund withdrawal from crypto investment fund

cyptouser9 months ago279
DEX aggregator 1inch withdrew over $40 million worth of cryptocurrencies from its investme...