CryptoWatch serves you the latest roundup regarding the cryptocurrency industry now, and these stories include the Three Arrows Capital founders that went missing during their bankruptcy filing. Another top story this week is the Russian ban on cryptocurrency that still pushed through despite the debates in the country and with Robinhood's new feature for all.
Three Arrows Capital Founders are MIA After Bankrupt Filing
(Photo : Lauren DeCicca/Getty Images)
BANGKOK, THAILAND - MAY 14: A poster with the Bitcoin logo is on display at the Thailand Crypto Expo on May 14, 2022 in Bangkok, Thailand.
Two of the founders of the famous cryptocurrency hedge fund, Three Arrows Capital (3AC), Zhu Su and Kyle Davies, are currently "missing" and have unknown locations. This concern is amidst its latest bankruptcy filing that has its hearing and liquidation process already in focus, and the transition to return assets is in place.
There were dockets in place for a hearing on the company's bankruptcy filing, which was previously scheduled for last Tuesday, July 12. However, the no-show caused a chain of events that led to its assets being frozen by regulators and a New York bankruptcy court's federal judge to prevent its access and transfers.
3AC's founders remain under the radar as of this moment.
Read Also: Voyager Digital Files for Chapter 11 Bankruptcy Following Exposure to Three Arrows Capital
Russia Bans Crypto in its Country, Despite Debates
Cryptocurrency ban is present in several countries, as some politicians or government disapproves of the venture and trading of the digital currency available in the world now. The latest one to impose its ban is Russia, and last Saturday, July 16, President Vladimir Putin signed a law that prevents the use of digital assets on payments in the country.
The decision for the national ban on cryptocurrency came earlier this year for Russia, and according to Engadget, the Bank of Russia first proposed this ban last January. Additionally, Russia's Finance Ministry submitted a draft on cryptocurrency regulation that would allow investing in digital assets but not use them for payments.
That law was published in the Russian parliament, and the ban is felt nationwide.
Robinhood Has a New Feature on its App
Robinhood brings excellent news to the world, and it is the use of their application for more features and transactions without relying on other platforms to do it for them. This new feature is now supporting cryptocurrency transactions on the app, and it would help send and receive cryptocurrency as long as it is listed on Robinhood.
The company shared its sentiments via a tweet, saying that this feature is one of the most awaited ventures from the crypto trading platform that would help the public enjoy more of their needs for the app. Before this, users may only trade cryptocurrency but not use it for transactions online, which helps it get a smoother experience for all needs.
Related Article: Celsius Crypto Lending Platform Likened to 'Fraud,' 'Ponzi Scheme' in New York State Lawsuit
This article is owned by TechTimes
Written by Isaiah Richard
