Exclusive


Finance

Hong Kong Firm With Ties to Bitmain Reorganizes to Focus on Crypto Asset Management and Hedging

Newly named Metalpha has its work cut out for it, hedging an uncertain market for institutional clients.

(DALL-E/CoinDesk)

Finance

Crypto Lender Genesis Lays Off 30% More of Its Staff

The job cuts come a day after the company said it would be “reducing costs and driving efficiencies” amid a challenging environment for crypto companies.

(Genesis Trading, modificado por CoinDesk)

Finance

Bitcoin Miner Argo Blockchain Will Avoid Bankruptcy With $100M Bailout From Novogratz’s Galaxy Digital

Galaxy will buy Argo's Helios facility for $65 million and provide $35 million loan to help the miner amid restructuring.

Galaxy Digital CEO Mike Novogratz (Suzanne Cordiero/Shutterstock/CoinDesk)

Finance

Crypto Funding Plunged in 2022, but VC Head Sees Areas of Opportunity for 2023

CoinFund’s David Pakman talks FTX, DeFi and the way forward.

CoinFund Managing Partner David Pakman (CoinDesk TV screenshot)

Finance

Tron’s Justin Sun Was Secret Top Client of Crypto Asset Manager Valkyrie

A private financial document reviewed by CoinDesk shows that Sun, one of the richest figures in crypto, was responsible for the vast majority of a key Valkyrie division’s assets under management.

Cartel del fundador de Tron, Justin Sun. (Danny Nelson/CoinDesk)

Finance

Polygon Founder Unveils Web3 Accelerator Beacon

The accelerator aims to connect founders with potential investors.

Sandeep Naliwal, co-founder Polygon (Polygon)

Finance

FTX’s Bankman-Fried Gave Ex-Jane Street Traders Who Formed Modulo Capital $400M

Founded in early 2022, Modulo operated out of the same luxury Bahamian condominium community where Sam Bankman-Fried and other FTX employees lived.

Sam Bankman-Fried speaks at Consensus C22 (CoinDesk)

Finance

Gaming Platform Forte Partners With Venture Studio SuperLayer to Expand Beyond Web3 Gaming

The blockchain platform also invested $5 million in the venture studio, which will go towards backing incubated companies.

The SuperLayer team (SuperLayer)

Finance

Bitcoin Miner Riot Switches Mining Pool After Falling Short in November

The miner used Braiins mining pool, whose payout method caused the variance between Riot’s mining capacity and the amount produced, according to a person familiar.

(Midjourney/CoinDesk)

Finance

Genesis Creditor Groups' Loans Amount to $1.8B and Counting: Sources

In addition to the previously reported group of Gemini customers owed $900 million, there are two other groups of Genesis creditors being represented by lawyers, CoinDesk has learned.

(Genesis Trading, modified by CoinDesk)