Crypto lender BlockFi has filed a motion in a US court, to allow it to honor withdrawals from wallet accounts and update its user interface.
December 20, 2022 | | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $16,841 | Bitcoin price has crept back up slightly over the last day of trading, tapping the $17,000 mark earlier this morning. | Top-20 altcoins are also somewhat recovering, as Ethereum gains 3%, BNB rises 2% and Litecoin leads with a 4% gain. | Top Stories for December 20, 2022 🔥 | | Crypto lending company BlockFi has filed a motion in a US court, to allow it to honor withdrawals from wallet accounts and update its user interface. | The company has no legal or equitable interest in cryptocurrency held in the accounts, according to the filing. A hearing on the matter is scheduled for 9 January, with a separate hearing regarding accounts held by a Bermuda-based subsidiary scheduled for 13 January. | BlockFi clients were reportedly informed of the plan to reopen withdrawals for wallet users on 19 December. | | Troubled Bitcoin mining firm, Greenridge Generation, has agreed to restructure $74.7m of debt with lender NYDIG, though the company may still file for bankruptcy. | If the deal with NYDIG is finalized, Greenidge will still require $20m in funding through 2023 to avoid bankruptcy. Under the current non-binding term sheet, NYDIG will purchase 2.8 exahash per second (EH/s) worth of Greenidge's bitcoin mining machines and extinguish $57m-$68m of the debt. | Greenidge will host NYDIG's machines, changing its business model from self-mining to hosting, a difficult business model in 2022 due to exposure to natural gas prices. | | The US arm of Gate.io, the fourth largest cryptocurrency exchange by trading volume, has received operating licenses in "several" states as it prepares to launch services in the country. | Gate US has registered as a money services business with the Financial Crimes Enforcement Network (FinCEN) and has "obtained some money transmission licenses or similar to operate, and is currently working to obtain more", according to a statement by founder and president Lin Han. |
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