The Swiss company Digital Assets AG (DAAG), later renamed FTX Europe, had been acquired in 2021 in a deal that reached USD 323 million.
Cryptocurrency exchange platform FTX has reached an agreement to resolve a dispute related to its European division, opting to return the entity to its original owners. According to Reuters reports, on February 24, FTX has agreed to the sale of FTX Europe to its founders for a sum of USD 32.7 million, indicating possible difficulties in finding alternative buyers.
The resolution of the dispute comes after FTX attempted to recover the funds invested in the acquisition. The exchange filed a lawsuit arguing that the purchase was financed with customer funds and maintaining that the acquisition price represented a “massive overpricing.”
In response, the startup’s founders, Patrick Gruhn and Robin Matzke, refuted the allegations. In this sense, they filed a counterclaim requesting USD 256.6 million from FTX. As reported by Reuters, the dispute came to an end on February 21.
Aleo Security Breach: Users Concerned About KYC Document Disclosure
Zero-knowledge (zk) application-focused blockchain platform Aleo is under scrutiny after users raised concerns about the inadvertent disclosure of sensitive information. In a worrying incident, a user, identified as @0xemirsoyturk, claimed to have mistakenly received Know Your Customer (KYC) documents in his email. These documents included selfies and photos of another user’s ID, raising concerns about the security of the information.
Social platform X was the stage where users expressed their concerns and alerted the layer 1 (L-1) platform about the issue. User @Selim_jpeg corroborated the complaint, confirming that he had also received KYC documents from another user in his email.
Carlson Group Boosts its Crypto Offering with the Best Bitcoin Funds on the Market
Renowned financial services firm, Carlson Group, has taken a bold step into the world of cryptocurrencies by adding four of the leading Bitcoin exchange-traded funds (ETFs) to its catalog of options for registered investment advisors (RIAs).
With a strategic focus on asset growth, trading volume and competitive fees, the $30 billion investment firm has carefully selected funds from BlackRock, Fidelity, Bitwise and Franklin Templeton.
Among the notable additions is BlackRock’s iShares Bitcoin Trust (IBIT), which has attracted investments totaling USD 6.6 billion since its launch on January 11. For its part, Fidelity’s Wise Origin Bitcoin Fund (FBTC) has seen impressive inflows, amassing $4.8 billion in investments, as reported by Bloomberg.
Riot Platforms Celebrates 19% Increase in Bitcoin Production in 2023
Bitcoin mining company, Riot Platforms, announced a 19% growth in the amount of Bitcoin produced during the year 2023. Thus reaching the figure of 6,626 BTC. This success is largely attributed to the average BTC price rally throughout the year, in stark contrast to the 2022 bear market.
According to the report published by Riot Platforms on February 22, the average mining cost per Bitcoin in 2023 decreased significantly compared to the previous year.
The company managed to reduce this cost by approximately USD 3,686, with a net cost of USD 7,539 per Bitcoin in 2023, considering the energy credits allocated to self-mining. This figure represents a 33% decrease compared to the cost of $11,225 per Bitcoin in 2022 within Riot Platforms.
Added to this are other milestones such as an important agreement with MicroBT to supply the latest mining equipment at long-term fixed prices. In addition, Riot is building a farm in Corsicana, which will become the largest facility in the world with a capacity of 1 Gigawatt.
By Leonardo Perez
