Weekly Report (6 – 12 Nov. 23) | What Happened This Week In Crypto

This Report will provide some essential and quick news about cryptocurrencies happening worldwide.

1) Bitwise Asset Management Cuts Ties With Struggling Company Amid SEC Investigation

Bitwise Asset Management, a top crypto index fund manager, would like to make it clear that the financially challenged tech firm Bitwise Industries, which is being sued by the U.S. Securities and Exchange Commission (SEC), is in no way affiliated with Bitwise Asset Management…[continue reading]

2) Singaporean Supreme Court Has Mandated The Liquidation Of Cryptocurrency Lender HODLNAUT

A major turning point in the continuing financial troubles of crypto lender Hodlnaut has occurred with the liquidation ruling from Singapore’s High Court. Based on a motion by Hodlnaut’s interim judicial managers (IJMs), the court has decided to move on from the judicial management phase and begin a new era in resolving the company’s financial issues…[continue reading]

3) Binance Moves 40,000 Bitcoins From Cold Storage

Binance cold wallet address 38DN2 was involved in a major Bitcoin transfer, according to Colin Wu, a well-known Chinese crypto writer. After transferring all 40,000 BTC in the cold wallet to the Binance hot wallet address bc1qm, Wu announced the news on X (previously Twitter). The remaining 30,000 BTC were sent to an undisclosed destination…[continue reading]

4) Celsius Receives Approval From Courts To Repay $2 Billion To Its Creditors

Celsius Network’s bankruptcy plan is accepted, laying the path for consumers to recover their funds and obtain shares in the new business, NewCo. About $2 billion in Bitcoin and shares in NewCo will be handed to creditors after Judge Martin Glenn approved the scheme. The anticipated reimbursement start date is December 31st…[continue reading]

5) Lightspeed Faction Launches $285M Crypto Fund Amid General VC Downturn

The co-founders of the fund have said that they want to spend the vast majority of the fund’s remaining resources in infrastructure and protocol-level initiatives. The Menlo Park-based firm Lightspeed Faction said Thursday that it had raised $285 million to invest in early-stage cryptocurrency startups…[continue reading]