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Banxe Reviews: The Advantages of Opening a Business Account

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In today’s interconnected world, businesses need agile and innovative financial solutions to thrive in a competitive landscape. Enter the startup Banxe, the trailblazing online bank offering a plethora of advantages for businesses looking to streamline their financial operations and unlock new growth opportunities. Let’s explore the service and understand more about what they offer.

What is Banxe?

Banxe distinguishes itself in the competitive financial services sector by offering a unique combination of traditional banking conveniences and advanced cryptocurrency solutions. It purports to deliver a seamless and secure banking experience—supported by its comprehensive suite of tools tailored to streamline financial operations, covering everything from multi-currency payments to cryptocurrency transactions.

Based on reviews, Banxe’s services strictly adhere to regulatory standards, hold licenses in various countries and uphold the highest levels of security and reliability. Their reputation for excellence is further bolstered by industry recognition and positive client testimonials, underscoring its status as a reputable partner in the evolving landscape of financial technology. Clients can seemingly rely on its innovative solutions, integrity and dedication to meeting their diverse financial needs.

Multi-Currency Payment Account with IBAN

Banxe empowers businesses with a multi-currency payment account complete with IBAN, facilitating effortless management of international transactions. Whether sending payments to suppliers abroad or receiving funds from global clients, businesses can navigate cross-border payments with ease, eliminating the complexities associated with currency conversion and ensuring seamless transactions across borders.

Corporate Cryptocurrency Wallet

Embracing the digital revolution, Banxe crypto offers businesses a corporate cryptocurrency wallet that supports over 350 cryptocurrencies. From Bitcoin to Ethereum and beyond, businesses can diversify their payment options and engage in a wide range of transactions, including investments, cross-border payments and vendor settlements.

Mass Payment

Efficiency is key in business operations, and the startup Banxe’s mass payment feature delivers just that. Streamline payroll processing, vendor payments and affiliate payouts with ease, sending funds to multiple recipients in just a few clicks. Whether processing bulk payments for employees or dispersing royalties to content creators, Banxe’s mass payment feature simplifies complex financial tasks.

Crypto Processing

As cryptocurrency adoption continues to soar, Banxe crypto empowers businesses to embrace the future of payments with its Crypto Processing solution. Securely accept cryptocurrency payments from customers worldwide, expanding your customer base and staying at the forefront of digital payment trends.

Regulatory Compliance & Accolades

Banxe’s commitment to excellence extends beyond its innovative suite of financial solutions, as the services provided on the platform hold regulatory licenses in various countries. From the UK Financial Conduct Authority to regulatory bodies in Europe, Southeast Asia and beyond, Banxe operates with integrity and compliance, ensuring the highest standards of security and trust for its users.

In addition to its regulatory licenses, the services provided by Banxe have garnered recognition in the industry for their innovative contributions to financial technology. From prestigious awards honoring its cutting-edge solutions to glowing testimonials from satisfied clients in reviews, Banxe has solidified its reputation as a trusted partner for businesses seeking modern financial solutions.

In conclusion, opening a business account with Banxe offers unparalleled advantages for businesses of all sizes. From seamless international transactions to cutting-edge cryptocurrency solutions, the startup Banxe empowers businesses to thrive in a rapidly evolving financial landscape. It’s definitely worth exploring their service as a possible partner for your business.

Momentum Shifts in Bitcoin Market as Institutional Outflows Slow and Optimism Grows for Future Highs

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In recent developments, Bitcoin may be witnessing a shift in momentum as institutional outflows diminish.

According to data from the UK-based investment firm Farside, the Grayscale Bitcoin Trust (GBTC) experienced a modest reduction of $170 million on March 22.

This comes amid discussions surrounding the United States Spot Bitcoin exchange-traded funds (ETFs), which have faced challenges, including decreased inflows and record-high outflows from GBTC, signaling a potential consolidation phase before Bitcoin tests its all-time high again.

Notably, the series of GBTC outflows coincided with reports of the bankrupt crypto lender Genesis liquidating its GBTC holdings.

This sell-off could be nearing its end, potentially easing the downward trends observed in ETFs.

Investor Alistair Milne highlighted a significant slowdown in GBTC selling, leading to a decrease in net outflows from Bitcoin ETFs to -$51.6 million. Milne’s observation raises the possibility of a momentum shift in the market.

Supporting this perspective, statistician Willy Woo introduced a new model that correlates ETF inflows with Bitcoin’s price movements, suggesting the most intense selling phase might have concluded.

READ MORE: SEC Delays Decision on Ether ETFs, Casting Doubt on Approval Odds Amidst Growing Skepticism

Woo anticipates continued market choppiness leading up to the Bitcoin halving event, echoing a sentiment for potential consolidation.

Echoing optimism, WhalePanda, a pseudonymous commentator, predicts a sideways market trend, potentially setting the stage for Bitcoin’s ascent to new all-time highs.

The commentator points to a significant demand for Bitcoin inflows to match the coin’s daily emission rate, which is expected to halve soon, further tightening supply.

However, GBTC faces criticism for its diminishing assets under management (AUM), now holding just half of its AUM since its ETF conversion.

Critics argue that GBTC’s reduction is beneficial for the Bitcoin ecosystem, with Vijay Boyapati blaming it for market instability and hindering Bitcoin’s growth.

Despite these challenges, spot Bitcoin ETFs have been historically successful, amassing $12.15 billion in cumulative flows.

Cathie Wood of ARK Invest anticipates more institutional engagement in the near future, signaling continued interest and investment in Bitcoin.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

BOME Meme Coin Surges Amid Market Turbulence: Major Cryptocurrencies Tumble as Industry Luminaries Weigh In

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The past week has been a rollercoaster for the cryptocurrency market, marked by significant events that shaped the landscape.

Unexpectedly, meme coins grabbed headlines, major cryptocurrencies experienced setbacks, and prominent figures voiced their opinions on the market’s future.

In a surprising turn of events, the “Book Of Meme” (BOME/USD) made remarkable gains, outshining its competitor, the so-called “Dogecoin Killer,” Shiba Inu (SHIB/USD).

On Sunday, BOME reported a 6.4% increase in its price and a significant 13.4% rise in trading volume, with a notable $1.5 billion in trades.

This surge was further bolstered by Binance’s announcement of BOME’s upcoming listing on both its spot market and futures platform.

The same week, major cryptocurrencies faced a downturn, with Tuesday highlighting a dramatic fall.

The sector saw over $650 million in liquidations within a day, largely due to Bitcoin’s (BTC/USD) decline below the $63,000 mark.

This drop resulted in an 8% shrinkage of the market cap within a mere 24 hours.

READ MORE: Bitcoin Futures Volatility Surges: Open Interest Hits $36 Billion Amid Price Fluctuations

In the midst of market turmoil, Robert Kiyosaki, the author of ‘Rich Dad Poor Dad,’ shared his investment insights.

He advocated for gold, silver, and Bitcoin as preferable investments over stocks and bonds, citing China’s economic volatility and its “foolish” financial strategies as a backdrop for his advice.

Further adding to the discourse, 10x Research released a report forecasting a downturn in Bitcoin’s value.

This prediction came to pass as Bitcoin fell by 13% over the week, underscoring the report’s identification of risk factors and potential support levels should the downturn persist.

Controversy also arose from Peter Schiff, a known Bitcoin skeptic, who criticized CNBC’s “Squawk Box” for allegedly displaying a bias towards Bitcoin.

He accused the show of highlighting the cryptocurrency’s successes while overlooking its failures, specifically pointing out a lack of coverage on a significant 6% loss Bitcoin suffered overnight.

These developments reflect the volatile nature of the cryptocurrency market, with fluctuations driven by various factors from market sentiment to economic conditions, illustrating the unpredictable journey of digital currencies.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

LayerZero CEO Accuses Three Arrows Capital Co-Founder of Deceptive Loan Requests

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In a startling revelation, Bryan Pellegrino, the co-founder and CEO of LayerZero, has publicly accused Kyle Davies, co-founder of the now-collapsed Three Arrows Capital (3AC), of attempting to sway his company into transferring its entire treasury to 3AC shortly before its liquidation.

Pellegrino made these claims in a response to Davies’ comments on a podcast, via an X post.

According to Pellegrino, Davies sought to secure LayerZero’s treasury by “promising better rates than other borrowers as a last-gasp effort,” showcasing a desperate move ahead of 3AC’s financial turmoil.

The accusations surfaced after Davies, on the Unchained YouTube interview podcast, refrained from issuing an apology to investors for 3AC’s downfall, sparking controversy.

Pellegrino’s assertions shed light on 3AC’s strategy of soliciting loans from various entities despite its impending insolvency, a tactic Pellegrino criticized for exploiting personal and professional relationships, including those with prominent figures like BitMex co-founder Arthur Hayes.

READ MORE: DOJ Targets Apple with Antitrust Lawsuit Over App Store Monopoly, Alleging Anti-Competitive Practices and Innovation Suppression

The crypto community and observers have rallied behind Pellegrino, condemning Davies’ conduct and the broader implications of 3AC’s practices, which relied on deceitful loan acquisition.

The backlash also saw X users, including @basedkarbon, criticizing Davies’ lack of tact in handling the situation.

Three Arrows Capital, founded by Davies and Su Zhu in 2012, managed an impressive $10 billion in assets by 2021.

However, the firm’s fortunes plummeted to $3 billion by April 2022, primarily due to the catastrophic fallout from the TerraUSD stablecoin crash, triggering a widespread crypto market crash.

The firm’s decline culminated in a Chapter 15 bankruptcy filing on July 1, 2022, as it sought to shield its assets from creditors amidst a dire financial crisis.

The collapse of 3AC had a profound impact, ensnaring numerous investors and companies in its wake. The bankruptcy proceedings revealed debts amounting to $3.5 billion owed to 27 entities, including a staggering $2.3 billion to Genesis Global Trading.

The fallout also severely affected Blockchain.com and Voyager Digital, with the latter filing for Chapter 11 bankruptcy after being unable to recover approximately $670 million loaned to 3AC.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Xuirin Finance ($XUIRIN) Dives Into the Crypto Arena, Challenges Polygon (MATIC)

Bankstown, Australia, March 25th, 2024, Chainwire

Xuirin Finance is an exciting new project in the world of cryptocurrency that’s all about bringing fresh ideas, being flexible, and having a clear plan for the future. The Xuirin Finance team views the Xuirin Finance (XUIRIN) as a significant milestone in decentralized finance.

The project came to inception after MATIC (now Polygon) entered the crypto scene to make Ethereum more scalable. Since then, a lot of competition spurred up with different Ethereum scaling projects trying to solve Ethereum’s scalability in different ways.

The Xuirin team believes being tied up to Ethereum means any big changes there could cause problems for Polygon, and thus, there’s place for a new contender in the ecosystem.

Xuirin Finance Features

– Early Success and Big Plans: Xuirin is making a notable entry into the world of cryptocurrency, raising funds via in its presale. But it’s not just about growing; Xuirin has plans to offer a whole range of financial services online, doing things no one else is doing yet.

– Standing on Its Own: Instead of relying on Ethereum like other Ethereum scaling solutions, Xuirin is setting up its own blockchain. This could make it more flexible and less vulnerable to problems that aren’t even its fault.

– A Well-Thought-Out Ecosystem: Xuirin is building a system where its token, XUIRIN, is super useful – for making decisions, saving, and a bunch of other services. This could make the token more valuable and widely used.

Xuirin Finance versus Ethereum Scaling Solutions

Xuirin is stepping up with some smart moves that could give it an edge over other Ethereum scaling solutions. It’s got its own blockchain and a wider range of services, making a strong case for it to jump ahead in the future.

Xuirin Finance stands out with its big ideas like DeFi debit cards, a smart payment system, AI-driven lending, and a secure wallet that works across multiple blockchains. This ambition, plus the quick fundraising, shows it’s a project to watch in the fast-changing world of decentralized finance.

About Xuirin Finance:

Xuirin Finance is a groundbreaking DeFi platform dedicated to transforming the decentralized finance landscape. With a mission to bridge the gap between traditional finance and DeFi, Xuirin introduces innovative solutions such as DeFi Debit Cards, AI-Enhanced P2P Lending, and a secure, multi-chain DeFi Wallet. Designed for accessibility and user empowerment, Xuirin aims to redefine financial transactions, making them more efficient, transparent, and inclusive.

or more information, visit https://xuirin.com

– Linktree: https://linktr.ee/xuirin

Users can join the Xuirin Finance Presale here.

Contact

Aleksandar Milenkovic
XUIRIN FINANCE PTY LTD
support@xuirin.com

Hospitality Worker Convicted in UK’s Largest Bitcoin Money Laundering Case

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In a landmark case, Jian Wen, a former hospitality worker, has been convicted of money laundering in a UK court specializing in significant fraud cases, following the discovery of a staggering $2.5 billion in Bitcoin under her control.

The Southwark Crown Court’s ruling came after a detailed investigation into Wen’s financial activities, which included the purchase of luxury properties and expensive jewelry.

This investigation examined 48 electronic devices and thousands of files, many in Mandarin, the BBC reported.

Wen’s sudden shift in lifestyle from residing above a Chinese restaurant to renting a lavish six-bedroom house in North London, with a monthly rent of $21,420, signaled the authorities to her trail.

Moreover, her attempt to buy a $30 million mansion in London was a critical lead that prompted further scrutiny by the officials, Cointelegraph noted.

Wen’s ambitious real estate ventures in London, coupled with her inability to pass money-laundering checks despite claiming substantial earnings from Bitcoin mining, raised suspicions.

READ MORE: Bitcoin Futures Volatility Surges: Open Interest Hits $36 Billion Amid Price Fluctuations

The UK police branded the case as the largest Bitcoin seizure in the country, with Wen convicted for her involvement in a money laundering arrangement, awaiting sentencing on May 10.

Chief Crown Prosecutor Andrew Penhale stressed the growing use of cryptocurrencies like Bitcoin in criminal operations, facilitating asset disguise and transfer by fraudsters.

Contrary to the authorities’ stance on cryptocurrencies being widely used for money laundering, a recent US Treasury Department report argued that cash remains the preferred medium for such illicit activities, due to its anonymity and stability.

Adding to the discourse, Nasdaq’s “Global Financial Crime Report” shed light on the financial crime landscape, noting that approximately $3.1 trillion in illicit funds circulated through the global financial system in 2023.

Interestingly, the report did not specifically mention Bitcoin or cryptocurrencies, indicating a broader perspective on financial crime beyond the digital currency realm.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

StaFi Liquid Staking Protocol Launches Testnet Awaiting StaFi 2.0 Mainnet Launch

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Multichain liquid staking platform StaFi is launching its Liquid Staking as a Service (LSAAS) testnet, in anticipation of its mainnet launch, StaFi 2.0. The latest iteration of its liquid staking platform will introduce a host of new features to push the protocol as the leading infrastructure solution for Ethereum-based and Cosmos blockchain staking. 

Since its launch, StaFi has created solutions to extend liquid staking across multiple blockchains. With the current liquid staking model only servicing single blockchains, such as Lido Finance for Ethereum staking only, the StaFi 2.0 launch will allow users to stake on multiple blockchains. This is expected to unlock greater utility and economic rewards for stakers while enhancing blockchain security across multiple blockchains. 

As StaFi co-founder Liam Young explained during the unveiling of the LSAAS testnet launch, the launch of its testnet will “provide a major boost for Layer 1 blockchains’ security” as well as “opening new opportunities for yield generation”.

“The launch of the StaFi 2.0 testnet is a major milestone in our journey to mainnet,” he continued. “The future of blockchain development is intertwined with liquid staking. StaFi 2.0 will play a crucial role in realizing that vision through pioneering Liquid Staking as a Service.”

The testnet supports liquid staking derivatives (LSD) for leading Layer 1 ecosystems such as Ethereum,  EVM layer2s, and Cosmos. The CosWasm LSD framework supports diverse deployment approaches including Neutron, the native smart contract platform secured by Cosmos. StaFi 2.0 also supports native Cosmos chain deployment.

Notwithstanding, the LSAAS framework will also accelerate the development and upgrades of LSD innovations. It will facilitate the rapid deployment of highly secure and capital-efficient LSDs on layer1 and layer2 blockchains, opening the platform to more staking options and products. 

Following the launch of StaFi’s LSAAS testnet, users on the platform can start experimenting with innovative LSD products and experience the convenience of being able to access Liquid Staking as a Service.

A successful testnet period will be followed by the unveiling of the StaFi 2.0 mainnet and a later launch of the innovative LRT Stack to power new re-staking applications. The timeline for the LRT unveiling is yet to be confirmed. 

StaFi 2.0 will be a revolutionary liquid staking upgrade, transforming the platform into an infrastructure layer for stakers and LSD products. Additionally, it will support multiple virtual machines (VMs) including EVM and WASM, aiming to pioneer a new staking mechanism for the billion-dollar liquid staking industry and bring re-staking to several Layer 1 and Layer 2 blockchains. 

As users and developers test and familiarize themselves with the LSAAS testnet, developers from StaFi will acquire the necessary information needed to further innovate the platform before its mainnet launch. It will allow further developments and bug fixes based on users’ feedback ahead of its mainnet launch schedules for Q3 later this year.

Discover the Crypto Intelligence Blockchain Council

DigiFT Introduces First RWA Depository Receipt Tokens , To Safeguard Investors’ Rights And Protection On-chain

Singapore, Singapore, March 25th, 2024, Chainwire

DigiFT, the first licensed exchange for on-chain real-world assets, announced the launch of the first ever U.S. Treasury Bill depository receipt tokens that represent direct beneficial ownership in the underlying U.S. Treasury Bill.

Depositary receipts (DR) are a well-tested structure in traditional finance and was first introduced in the late 1920s when J.P. Morgan created the first American Depositary Receipt (ADR) to facilitate trading of the shares of British retailer Selfridges on the New York Stock Exchange (NYSE). The 1990s saw further expansion in the use of depository receipts, including the introduction of Global Depositary Receipts (GDRs) by international banks for investors outside the United States.

By deploying the DR structure on-chain, DigiFT is proud to have pioneered a token issuance model that addresses a critical market challenge with Real World Asset (RWA) tokenization: the absence of a robust legal framework that enables “tokens” to accurately and, importantly legally, represent the direct beneficial interest of token holders in the underlying asset while facilitating settlement on-chain.

Presently, the majority of RWA tokens in circulation are wrapped tokens that represent interest in a special purpose vehicle, feeder fund or derivative instrument which holds or mirror the underlying assets. These wrapped tokens are often structured in complex legal arrangements, making it challenging for investors to fully comprehend the legal implications. Token holders have limited or no direct beneficial claim on the assets they are investing into. In contrast, Tokens issued under DigiFT’s DR structure offer a much more straightforward legal framework, making it easier for investors to understand. The tokens represent a fractional beneficial interest in the underlying capital market securities, allowing investors to legally lay claim to and directly benefit from the economic returns generated by the underlying assets.

As the first RWA exchange on the public blockchain to be licensed by a Tier-1 financial regulator, DigiFT combines deep financial and deep technological expertise to offer regulated financial solutions on-chain. The DigiFT U.S. Treasury Tokens (DRUST) is the first offering of a series, under the DR structure. Each DRUST is directly backed by AA+ rated, highly liquid and short-term U.S. Treasury Bills, tailor-made for stablecoin issuers and Web3 product developer / managers seeking regulatory compliant treasury as well as cash management solutions. Institutional and accredited investors can access DRUST from their authorised self-custodial wallets using fiat or stablecoins anytime anywhere.

Henry Zhang, Founder and CEO of DigiFT said, “DigiFT’s innovative DR structure addresses a pain point in the current RWA market, empowering investors with direct ownership of underlying assets and returns. Looking ahead, DigiFT remains committed to expanding the universe of traditional financial assets in the Web3 space through the DR model, offering better investor protection and transparency.”

Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer

About DigiFT

DigiFT is the first regulated exchange for on-chain real-world assets, approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore. DigiFT allows asset owners to issue blockchain-based security tokens and investors can trade with continuous liquidity via an Automated Market Maker (AMM).

Established in Singapore in 2021, DigiFT is fully committed to meeting regulatory requirements to operate in the capital markets space in Singapore, while providing innovative financial solutions that push the boundaries of financial services in a responsible manner.

DigiFT’s founding team comprises executives who have held positions within the finance and fintech worlds at Citi, Standard Chartered, Morgan Stanley, Shenzhen Stock Exchange and possess deep blockchain technology knowledge, having successfully developed digital asset exchange and products in the past.

For media inquiries, please contact:

media@digift.com.sg

Contact

PR Head
Evelyn Xiong
DigiFT
media@digift.com.sg

Ethereum Faces Price Dip Amid Market Uncertainty, Holds Potential with Major Upgrades and Regulatory Challenges Ahead

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Ether recently encountered significant resistance at the $4,100 level on March 12, leading to a 9% drop in its price over the past week, a sharper decline than the broader cryptocurrency market, which saw a 2.5% decrease in total market capitalization.

This downturn has prompted speculation about the durability of Ether’s current $3,200 support level.

A key potential driver for Ether is the possibility of the U.S. Securities and Exchange Commission (SEC) approving a spot Ethereum exchange-traded fund (ETF), with a decision expected by May 23.

Yet, Bloomberg’s James Seyffart remains skeptical of approval, stating, “However, Bloomberg senior ETF analyst James Seyffart does not consider approval as his base scenario.”

Despite the price setback, the Ethereum network saw significant upgrades with the Dencun hard fork on March 13, aimed at improving scalability and layer-2 data processing.

This update has led to reduced transaction fees on platforms like Arbitrum, Optimism, and Base, bolstering the case for layer-2 solutions among Ethereum users.

Cointelegraph highlights this trend, noting, “Data indicates a surge in 7-day volumes for Arbitrum, Optimism, and Base by 145%, 144%, and 203%, respectively, thereby alleviating some of the downward pressure on Ether’s price that was attributed to high gas fees.”

However, competition from networks like BNB Chain and Solana, which offer lower base-layer transaction fees, remains fierce.

READ MORE: Grayscale’s Bitcoin ETF Faces Record Outflows Amid Crypto Market Turmoil, But Analysts Predict a Turnaround

1Despite this, Ethereum continues to see positive ecosystem developments, even as regulatory scrutiny in the U.S. intensifies, with the SEC investigating connections to the Ethereum Foundation to potentially classify Ether as a security.

The recent SEC actions, especially in light of Ethereum’s shift to proof-of-stake, have led to a mixed response from the market and industry figures.

Some, like Van Buren Capital and lawyer Scott Johnsson, view the SEC’s scrutiny as a potential obstacle to Ether ETF approvals, while Coinbase’s chief legal officer, Paul Grewal, contends, “The SEC has no valid reason to reject the Ether ETP applications.”

Market sentiment, as gauged by the ETH options 25% delta skew, reflects a cautious stance, with a recent shift from 0% to 5%, indicating skepticism but not outright bearishness towards the $3,200 support.

Despite this, Ethereum’s position as a leading network, with a total value locked (TVL) of $94 billion and BlackRock’s initiative to launch a tokenized asset fund on Ethereum, underscores its enduring significance.

This backdrop suggests that, despite current challenges, Ether’s foundational support level remains robust.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

FTX to Sell $1 Billion Stake in AI Firm Anthropic to Pay Off Bankruptcy Debts Amidst Legal Battles

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FTX, the cryptocurrency exchange that went bankrupt, is in the process of selling its investment in the artificial intelligence company Anthropic, valued at approximately $1 billion.

This move is part of FTX’s strategy to address its bankruptcy debts, a situation reported by CNBC on March 22.

Anthropic, an AI firm, is currently evaluating potential buyers for FTX’s stake, with a transaction expected to finalize within the next few weeks.

Sources close to the situation, preferring anonymity due to the sensitive nature of the financial discussions, informed CNBC of these developments.

The method of sale involves a special purpose vehicle (SPV), a separate corporate entity created to fulfill legal obligations during insolvency situations, indicative of FTX’s current financial state.

READ MORE: Grayscale’s Bitcoin ETF Faces Record Outflows Amid Crypto Market Turmoil, But Analysts Predict a Turnaround

Interestingly, the sources revealed that Saudi Arabian entities have been excluded from the bidding process over national security concerns, although it remains unclear if this exclusion pertains to all Saudi investors or just state-related ones. It’s important to note that the shares in question are “Class B” non-voting shares.

The potential sale follows a decision by the Delaware Bankruptcy Court, where Judge John Dorsey authorized FTX to liquidate its Anthropic shares on February 22.

FTX initially acquired these shares for about $530 million in April 2022, and their value has nearly doubled since, propelled by the surge in generative AI technology, now estimated to be worth around $1 billion.

This development surfaces as FTX’s former CEO, Sam Bankman-Fried, prepares for his sentencing hearing on March 28, after being convicted on seven counts of fraud in November 2023.

Describing Bankman-Fried’s actions, U.S. Attorney Damian Williams stated, “a multibillion-dollar scheme designed to make him the king of crypto,” and highlighted the scale of the fraud as one of the most significant financial deceptions in U.S. history.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

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