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BITTREX CRYPTO EXCHANGE DECLARED BANKRUPTCY IN THE USA

After ceasing operations in the United States, Bittrex Inc. filed for bankruptcy in the Delaware County Court. The application was submitted on May 8. In the document, the cryptocurrency exchange reports that it has assets and liabilities in the range of $0.5 billion to $1 billion. The "daughters" of the exchange will also be involved in the bankruptcy process: Bittrex Inc. (Seattle), two firms in Malta and Desolation ...

THE STATE DUMA HAS ADOPTED A LAW ON THE TAX ON CRYPTOCURRENCY

The State Duma adopted in the third reading a bill providing for the introduction of taxation of digital currency. Amendments are proposed to the Tax Code of the Russian Federation. The draft law provides that cryptocurrency will be recognized as property, but only for taxation. Residents are required to inform about transactions with digital currency if the amount of receipts or write-offs for the year is more than 600,000 rubles. The author of the bill is ...

THE CRYPTOCURRENCY EXCHANGE IN GERMANY WENT TO THE BOTTOM

... the crypto exchange has attracted about €42.3 million. According to Crunchbase, the last serious capital inflow (closing of the Series B round) was observed in 2021. Then the firm managed to get €9 million. In August 2022, the organization declared bankruptcy. The company's management explained this step by the instability of the market situation and global events. The management hoped that the bankruptcy procedure would allow to restructure assets and stabilize the financial condition of the business....

THE LARGEST US CRYPTO BANK ANNOUNCED LIQUIDATION

One of the largest banks in the United States working with cryptocurrency, Silvergate Bank plans to liquidate. This was announced by the parent company Silvergate Capital Corporation. ... ... attracted deposits in excess of $14 billion, becoming the largest US organization working with digital assets. However, the bankruptcy of FTX Group, which occurred in November 2022, dealt a blow to the bank's reputation. The share of customers storing ...

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