The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted the local arm of crypto exchange Binance approval to manage and trade digital currencies. According to a Jan. 11 announcement, Binance said following “months of constructive engagement” with the financial regulator, the Swedish FSA granted Binance Nordics AB registration status on Jan. 10. This decision effectively allows Swedish residents to access Binance’s crypto services. "Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies to match this exacting standard,” …

Kyle Davies, the co-founder of bankrupt hedge fund Three Arrows Capital (3AC), disclosed in a Twitter thread that the first meeting of 3AC creditors was held on Jan. 11. Davies invited all creditors to join the group and announced that it would meet regularly. According to Davies, creditors continue to express frustration with the ongoing costs and handling of assets in the bankruptcy process, suggesting that, "inter creditor disputes are delaying the process, and the estate value is not being maximized." Today we held an ad hoc 3AC creditor meeting. All creditors are open to join and this will be …

According to an attorney familiar with the matter, troubled cryptocurrency exchange FTX has "recovered $5 billion in cash and liquid cryptocurrencies." However, the exchange is still "working to rebuild transaction history," and the total amount of customer shortfall is "still unclear." Cointelegraph previously reported that FTX has $8.8 billion in total liabilities. At the time, sources said the exchange had very little in cash and liquid digital assets, amounting to an estimated $8 billion hole in its balance sheet. Sam Bankman-Fried, the disgraced founder of FTX, has pled not guilty to all criminal charges related to the exchange's fallout. The …

Cryptocurrency exchange Bitvavo, a major creditor of the troubled crypto company Digital Currency Group (DCG), has dismissed DCG’s proposal of partial debt repayment. Bitvavo officially announced on Jan. 11 that the firm received a counter proposal from DCG offering to repay about 70% of the outstanding amount in a term acceptable to Bitvavo. The remaining balance amount is still under negotiation with DCG as it is only ready to repay part of the debt within a term acceptable for Bitvavo, the exchange said, adding: “As creditors, we do not find the latter acceptable because DCG has sufficient resources available for …

After the paranoia and turmoil in the crypto industry caused by the FTX liquidity and bankruptcy scandal, major digital-asset service providers in the space began publicizing their reserve funds. The latest to join the proof of reserve trend is the Indian cryptocurrency exchange WazirX. It announced its act of transparency on Jan. 11 stating that: "We are not only India's largest crypto exchange by volume but also India’s largest crypto exchange by reserves.” WazirX used CoinGabbar, a third-party crypto asset tracking platform, to display its proof of reserves. According to the data WazirX has roughly $285 million in total user …

Crypto exchange Coinbase will be closing down most of its operations in Japan as part of its efforts to survive in the bear market. The move is part of the company’s restructuring plan and follows the recent layoff announcement that it was reducing its employees by 20%. In an interview with BNN Bloomberg, Coinbase executive Nana Murugesan said that most of the operations in Japan will be closed. “We’ve decided to wind down the majority of our operations in Japan, which led to eliminating most of the roles in our Japan entity,” said Murugesan. While the executive did not dive …

Publicly-listed Bitcoin (BTC) mining company Argo Blockchain saw a significant drop in mining activity in December due to a winter storm in Texas. On Jan. 11, Argo released its first operational update since selling its flagship mining facility Helios to Mike Novogratz’s Galaxy Digital. The company said it mined 147 Bitcoin or BTC equivalents in December, compared to 198 BTC in November 2022. As of Dec. 31, Argo held 141 BTC, with its December mining revenue amounting to $2.49 million, the firm said. Argo’s total debt was approximately $79 million, and its bank balance was about $20 million. According to …

Following the report about Huobi Korea’s planned buyout of its shares from Huobi Global, the latter revealed that the deal has already been made, and the two platforms have been operating completely separately since the Fall of 2022. In the press release from Jan. 11, Huobi Global, which rebranded to Huobi in Nov. 2022, confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea. According to the statement, in Oct. 2022. the About Capital fund became the largest shareholder and actual controller of Huobi Global, but the deal didn’t include Huobi Korea's …

The cryptocurrency exchange Zipmex is the focus of a new probe by the Securities and Exchange Commission (SEC) of Thailand for a breach of local rules. A Bloomberg report revealed that local authorities are looking into an activity that they believe may be in violation of business rules for digital asset service providers. This includes its offerings of certain digital asset products According to the Thai SEC, Zipmex has until Jan. 12 to clarify whether it has been functioning as a “digital-asset fund manager without permission” in Thailand. If true, the firm would have needed to obtain a permit prior …

References to crypto or blockchain technology are nowhere to be found in newly leaked images concerning “Twitter Coins” — the platform’s secret in-development digital asset. First leaked in early December by tech bloggers Jane Manchun Wong and Nima Owji, many have been hoping that the secret “Twitter Coins” project would involve cryptocurrency in some way. Members of the Dogecoin (DOGE) community have been especially hopeful given Twitter CEO Musk’s affiliation with the token. In a Dec. 4 Twitter Spaces, when Musk said he was still interested in integrating crypto with the social media platform. However, newly leaked images of the …

Galaxy Digital Holdings CEO Mike Novogratz hosed down fears over the crisis facing Digital Currency Group (DCG) and Genesis saying while it’s “not good news,” it won’t “include a lot of selling.” In a Jan. 10 interview on CNBC’s Squawk Box Novogratz said he expects the current debacle facing DCG and its related companies to “play out” over the next quarter. "The outlook for #crypto is not horrible but it's not great. We've got regulatory headwinds we didn't have before. People are going to cut costs and survive this transition period," says @novogratz. "Crypto is not going away. It's a …

Bankrupt crypto lender Voyager Digital received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion amid a national security probe Voyager is seeking to speed up. On Jan. 10, United States Bankruptcy Judge Michael Wiles allowed Voyager to enter into the asset purchase agreement and seek creditor approval, but the sale will not become final until a future court hearing, according to a Jan. 11 Reuters report. It comes as Voyager wants to expedite a review of its proposal to sell assets to Binance.US which could result in the deal being blocked or delayed. …