BITCOIN

Crypto lender Blockfi is moving closer to returning funds to clients after a bankruptcy judge confirmed its Chapter 11 plan on Tuesday. The plan outlines a process for the company to distribute the remaining assets to clients and attempt to recover additional funds. Blockfi Advances on Client Asset Reimbursement Following Chapter 11 Plan Approval With over 90% of voting creditors approving the plan, Blockfi expressed optimism about providing client recoveries relatively quickly compared to similar crypto bankruptcies. The plan confirmation comes after Blockfi originally filed for bankruptcy protection in November 2022, amid the broader crypto market downturn. Under the approved plan, Blockfi will first distribute the remaining digital assets back to clients with funds in Blockfi Wallet accounts. The company will then make an initial distribution to clients with funds in Blockfi Interest Accounts (BIAs) and retail crypto-backed loans. “Over the coming months, you will receive an e

Bitcoin.com, one of the world’s leading cryptocurrency wallet developers and news portals, has partnered with the Busan International Film Festival as a major sponsor. The Busan International Film Festival (BIFF), held annually in South Korea, is one of the most significant film festivals in all of Asia. By sponsoring the event Bitcoin.com seeks to support artistic endeavors and reach new audiences. The 28th Busan International Film Festival will take place on October 4-13, 2023 at the Busan Cinema Center in Busan, South Korea. The festival will showcase the best of Asian cinema and feature various events and programs, such as master classes, open talks, hand-printing ceremonies, and awards ceremonies. The opening film will be Because I Hate Korea by Jang Kun-jae, and the closing film will be The Movie Emperor by Ning Hao. The festival will also honor Hong Kong star Chow Yun-fat with the Asian Filmmaker of the Year award. You can find more information about the festival on its offici

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has explained why the securities regulator is taking a litigation-heavy strategy to regulate the crypto industry. The SEC chair insisted that enforcement actions against crypto firms are not brought with a political agenda, emphasizing that he is protecting the American public. “This is a field where the American public is at risk and being harmed every day on these platforms that are commingling and often trading against their customers,” he cautioned. Gensler Reveals Why SEC Focuses on Litigation in Regulating Crypto The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified before the House Financial Services Committee on Wednesday. During the hearing, several members of Congress raised questions about cryptocurrency and the regulation of crypto tokens. Congressman John Rose (R-TN) asked Gensler: “Regarding cryptocurrencies … I’m interested in why you have pursued a litigation-hea

The U.S. Securities and Exchange Commission’s former head of internet enforcement says former U.S. President Donald Trump’s anti-crypto stance may change dramatically . He further predicted that if a Republican is elected U.S. president, a Republican-appointed SEC chair would, at a minimum, approve a bitcoin exchange-traded fund (ETF) and “may even slow down considerably SEC crypto-related enforcement efforts.” Former SEC Official on Donald Trump’s Anti-Crypto Stance Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has argued that former President Donald Trump could “dramatically” change his position on cryptocurrencies. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. Trump is running for president in 2024. “Former President Trump is on record as being strongly anti-bitcoin and anti-c