Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection on Monday. It’s the latest domino to fall following the implosion of crypto exchange FTX. BlockFi froze customer withdrawals earlier in November, saying that it had significant exposure to FTX as well as the exchange’s trading arm, Alameda Research. Bankruptcy filings show that BlockFi’s top creditor is Ankura Trust...
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Let The Mixed-Reality Headset Games Begin
You don’t need special glasses to see why Meta Platforms announced its latest mixed-reality headset, the Quest 3, on Thursday, just days before Apple is expected to unveil its own entry to the field. CEO Mark Zuckerberg has literally bet the company, and its name, on the metaverse, but the results so far have been disappointing. It’s been almost a decade since Meta, née Facebook, stepped...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.