Genesis Global and affiliates have reached a deal in principle on a bankruptcy reorganization plan supported by creditors, according to a court filing Tuesday. The cryptocurrency lender aims to emerge from Chapter 11 protection after entering mediation in May to resolve disputes over a reorganization plan. Genesis announced in the court filing that mediation ended The post Digital Currency Group to pay $1.4B as agreement made with Genesis for up to 90% of funds appeared first on CryptoSlate.

Ben Armstrong, the influential figure behind BitBoy Crypto, has reportedly left the company, leaving the crypto community in speculation. According to a screenshot shared by Bitcoin author Jason A. Williams on X, Armstrong’s exit from “Hit Network/BJ Investment Holdings and all its subsidiary brands, including BitBoy Crypto and Around The Blockchain,” is effective immediately. Armstrong The post BitBoy removes host Ben Armstrong amid meme coin controversy – reports appeared first on CryptoSlate.

Fiat-backed stablecoins have eclipsed Mastercard and PayPal in moving more value across their networks in 2022, according to a Bloomberg Intelligence note on Aug. 25. According to Bloomberg Intelligence crypto market analyst Jamie Coutts, stablecoins on several Layer-1 networks transacted $6.87 trillion in 2022, surpassing the transaction volumes of Mastercard and PayPal. However, stablecoins still The post Stablecoin volume outpaces Mastercard, PayPal as digital payments wars loom appeared first on CryptoSlate.

1inch Network has announced its expansion to Base, a Layer-2 Ethereum scaling solution incubated by renowned crypto exchange Coinbase. This strategic move aims to offer 1inch users access to deeper liquidity, lower transaction costs, and higher speeds, further enriching their trading experience. However, the news comes as a warning regarding an impending exit scam by Magnate The post New $5M exit scam fears as DeFi grows on Base with 1inch Network launch appeared first on CryptoSlate.

Bitcoin has experienced its longest stretch of negative year-over-year returns in its history, 15 months extending from Feb. 2022 to June 2023. This record-breaking downturn surpasses the previous streak of nearly a year from Nov. 2014 to Oct. 2015. According to a recent Pantera Capital letter to investors, this prolonged downturn may have reached its limit. The post Pantera predicts 322% Bitcoin price surge to $148k after halving in 2024 appeared first on CryptoSlate.