BREAKING: Genesis Files for Bankruptcy [ Crypto Espresso 1.20.22 ]

Well it's Friday and we made it another Week down another weekend on the horizon And I for one intend to celebrate with Some good old-fashioned crypto news Because I am your host Andrew and this Is crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines Let's just do it first up well we knew This was coming Genesis has filed for Bankruptcy after suffering multiple Blows during the bear Market as well as Nursing heavy losses following the Collapse of three arrows capital and FTX It owes 900 million dollars to 340 000 Gemini earned customers estimates Suggest that Genesis has 100 000 Creditors and the 50 biggest are owed 3.5 billion dollars Gemini's co-founder Cameron Winklevoss says the chapter 11 Proceedings are a crucial step in Recovering funds for his customers he Once again claimed that digital currency Group's CEO Barry silbert has refused to Offer creditors a fair deal and Threatened to file a lawsuit imminently Welcoming the involvement of a court he Added sunlight is the best disinfectant FTX International could be revived According to its new CEO John Ray told The Wall Street Journal that a task Force is looking into this idea but it's Unknown whether users would put their Trust into this business again after you Know that little incident involving

Billions of dollars of customer funds Being misused by elevator research you Know that not a little thing Ray thinks That reopening FTX could allow creditors To get more of their funds back he Attacked Sam bankman freed for Questioning his judgments on sub Stacks Saying we don't need to be dialoguing With him he hasn't told us anything that I don't already know Rey also defended His salary of Thirteen hundred dollars Per hour saying crime is very expensive It does a lot of damage to people and One of those damages is that people like Me have to come in and fix it and Speaking of Sam bankman freed he's Claimed that there was a security Incident outside of his parents property Where he is under house arrest on a 250 Million dollar Bond his lawyers say a Black car drove into metal barricades Outside the house in Palo Alto adding Three men got out of the car when the Security guard on duty confronted them The men said something to the effect of You won't be able to keep us out the men Got back in the car and quickly drove Away before the security guard was able To see the license plate sbf's legal Team has previously warned that his Parents have received a steady stream of Threatening correspondence including Communications expressing a desire that They suffer physical harm Andrew Tate is

Going to remain Behind Bars until February 27th the influencer crypto Trader and just seemingly all-around Great guy was arrested in Romania late Last year alongside his brother and two Women they're accused of human Trafficking rape and forming an Organized crime group Tate was initially Detained for 30 days amid fears that he Could be a Flight Risk but a Romanian Court has now extended this deadline the Additional holding is designed to give Police time to build a case against him Tate or his supporters have been using His Twitter account to protest his Innocence a recent post said solitary Confinement provides the perfect Environment to meditate and hone my Dragon fist once they failed to kill me I will emerge perpetrators beware sure You can I just added that sorry it's no Secret that JP Morgan CEO has long been A Critic of Bitcoin and it looks like He's not changing his mind anytime soon During a CNBC interview in Davos Jamie Dimon said the world's biggest Cryptocurrency was a hyped up fraud and A pet rock he went on to suggest that Bitcoin's fixed supply of 21 million Could be changed with Satoshi Nakamoto Withdrawing billions of dollars demon Said Financial journalists are wasting Their breath by covering the crypto Space and it seems he's getting pretty

Fed up with being asked about it growing Increasingly exasperated as his views on Digital assets were challenged the Banker growled I don't care about Bitcoin so we should just drop the Subject and finally on this Friday we'll Leave you with some rare good news Specifically in the battle against Ransomware according to chain Alice's The amount extorted by attackers in 2022 Actually tumbled by 40 compared to the Year before the blockchain analytics Firm says it's been an impactful year in Tackling those who deceive victims and Crypt files and then demand Cryptocurrency in exchange for unlocking Them estimates from chain analysis claim 457 million dollars was extorted by Ransomware attackers in 2022 and in both 2020 and 2021 this figure stood at Roughly 765 million dollars the driving Force behind the declining revenues for Attackers is also pretty interesting Chanelis believes that victims are just Refusing to pay whereas 76 percent ended Up submitting to Ransom in 2019 this Dwindled to just 41 in 2022 and speaking Of crime reach for this guys this is a Hold up all right now reach for that Like button subscribe to our YouTube Channel and click on that little bell Icon to get buzzed whenever new crypto Espresso video goes live yeah that's Right just like this feedback on today's

Video well comments are still disabled So I really hope I'm doing a good job Questions about our headlines or crypto In general why not ask Alex in that Description below Alex is a great Resource for all things web 3 and the Metaverse and that about does it for Today again and I've been your hostinger These have been your headlines and Ladies and gentlemen the weekend Well anyway we'll see you Monday have a Good one