FTX Trading Ltd. Seeks to Exclude Turkish Subsidiaries from Bankruptcy Case

-FTX Trading Ltd. has asked the bankruptcy court in Delaware to exclude its Turkish subsidiaries from the case.
– FTX Turkey is a local subsidiary of FTX and is owned by FTX Trading Ltd. and SNG Investments, an indirect wholly-owned subsidiary of Alameda Research LLC.
-Local authorities in Turkey may seize any FTX Turkey assets they deem necessary to fulfil judgements handed down by Turkish courts.

FTX Trading Ltd., the market maker, has recently requested the Delaware bankruptcy court to exclude its Turkish subsidiaries from the ongoing bankruptcy proceedings. FTX Turkey is a local subsidiary of the defunct FTX cryptocurrency exchange and is owned by FTX Trading Ltd. and SNG Investments, an indirect wholly-owned subsidiary of Alameda Research LLC. FTX claims that since court decisions from U.S. courts do not have a legal or practical impact in Turkey, it will be unable to exercise sufficient control over the Turkish units’ operations in order to fulfil its obligations under the Bankruptcy Code.

Furthermore, the petition also stated that FTX Turkey and SNG Investments are not strategic to FTX’s overall business, and citizens have reportedly begun filing private claims and beginning execution actions against FTX Turkey Turkish Debtors. Therefore, local authorities in Turkey may seize any FTX Turkey assets they deem necessary to fulfil judgements handed down by Turkish courts, and any assets owned by FTX Turkey in the nation may be subject to private execution.

The filing from FTX Trading Ltd. comes after the Turkish Treasury and Finance Ministry seized the assets of the FTX cryptocurrency exchange and began investigating the exchange’s downfall in November. As the court in Delaware has yet to decide on the exclusion of the Turkish subsidiaries, FTX Trading Ltd. has requested the court to decide on the matter quickly and to not waste time or resources on the matter.

It remains to be seen whether the court will grant FTX Trading Ltd.’s request and exclude the Turkish subsidiaries from the bankruptcy proceedings. However, the filing shows that FTX Trading Ltd. is taking all necessary steps to ensure that its Turkish subsidiaries remain protected from the proceedings.

SRX Listed on Coinstore.com: Trade & Win Airdrops & Discounts!

• StorX Network ($SRX) has been listed on Coinstore.com, a global cryptocurrency exchange.
• Coinstore.com will offer the SRX community a simple buy/sell crypto feature, advanced cryptocurrency spots, and futures trading dashboards.
• The SRX/USDT pair is now available for trade on the exchange.

StorX Network ($SRX) is proud to announce that it has been listed on Coinstore.com, a global cryptocurrency exchange with over 2,300,000 users allowing individuals and institutions to buy, sell, and trade over 1,000 cryptocurrencies. This listing will make the SRX token accessible to the Coinstore.com community of about 2 million users.

Coinstore.com will offer the SRX community a range of features for their trading activities. Beginners will be able to access a simple buy/sell crypto feature, while more advanced users will find cryptocurrency spots and futures trading dashboards that they can use to their advantage. The SRX/USDT pair will be available for trade on the exchange, meaning that users will be able to buy and sell the token using US dollars.

The listing of SRX on Coinstore.com is a major step forward in the project’s mission to provide a low-cost and high-efficient decentralized cloud storage network to safely store their data. The listing will also provide a greater level of liquidity, allowing the SRX community to easily access and trade the token.

The listing of SRX on Coinstore.com comes at an exciting time for the project. The team has been hard at work development and marketing activities and this listing is a great achievement for the project. The team is confident that this listing will increase the awareness of the StorX Network and enable the community to access the decentralized cloud storage network with greater ease.

In addition, Coinstore.com will be offering a range of promotional activities for SRX holders and traders, including airdrops, discounts, and other incentives. These activities will provide additional value to those who are participating in the StorX Network.

To celebrate the listing of SRX on Coinstore.com, the team has also arranged a series of online and offline events and competitions that will be held over the coming weeks. These events will provide a great opportunity for the SRX community to get to know each other and also have a bit of fun.

We are very excited about the listing of SRX on Coinstore.com and the potential it holds for the StorX Network. We look forward to continuing to develop the project and providing our community with a safe and secure decentralized cloud storage network.

Revolutionize Bond Returns: KUMA Protocol Launches Interest-Bearing Tokens!

• Mimo Capital is launching “KUMA Protocol”; the first DeFi protocol issuing tokens backed by regulated NFTs, themselves backed by sovereign bonds.
• KUMA tokens are NFTs representing bonds that KUMA Generator can accept as a backing to issue KUMA Interest-Bearing Tokens, a form of synthetic stablecoins that automatically accrue interest, providing holders with a reliable source of passive income.
• The launch of this protocol also has the potential to revolutionize the way bondholders receive interest, as interest can be paid out to holders regularly, every 4 hours by default.

Mimo Capital, a decentralized finance innovator, is proud to announce the launch of “KUMA Protocol”; the first DeFi protocol issuing tokens backed by regulated NFTs, themselves backed by sovereign bonds. This launch comes after the Financial Market Authority Liechtenstein (FMA) has approved Mimo for providing blockchain-related services since January 2022.

KUMA tokens, built as a smart contract compatible with most blockchains, are designed to provide holders with a reliable source of passive income through the accrual of interest on their holdings. KUMA Tokens are NFTs representing bonds that KUMA Generator (a decentralized product owned by KUMA DAO and governed by the MIMO tokenholders) can accept as a backing to issue KUMA Interest-Bearing Tokens, a form of synthetic stablecoins that automatically accrue interest. The balance of these tokens grows in users’ wallets without any action required, matching the interest rate paid by the bond backing them, minus commission.

Apart from the interest, the tokens behave like regular stablecoins, allowing them to be integrated freely into the broader crypto ecosystem, like DeFi, GameFi, and NFTs platforms. This opens up the possibility of using KUMA Tokens to create a wide range of financial products and services that can be used to generate yield and returns.

The launch of this protocol also has the potential to revolutionize the way bondholders receive interest. Traditional bonds typically pay out interest semi-annually, annually, or even when reaching maturation. However, because KUMA Interest-Bearing Tokens use smart contracts, interest can be paid out to holders regularly, every 4 hours by default, providing a more consistent income stream for investors while not involving any claim process.

Mimo Capital is committed to providing the highest level of security and reliability for our users, and KUMA Protocol is no exception. All transactions are secured with cryptography, and all holdings are backed by reputable institutions to ensure the safety of our customers’ funds. We are also proud to be the first DeFi protocol to have obtained approval from the FMA, ensuring that our operations are compliant with the relevant regulations.

We are confident that KUMA Protocol will be a major breakthrough in the world of decentralized finance, and we look forward to seeing the creative ways in which users will use KUMA Tokens to generate yield and returns.

SRM: The Safe Haven for Crypto Investors Despite Turbulent Year

• Serum (SRM) is a decentralized exchange software built on Solana where traders can buy and sell cryptocurrencies.
• SRM experienced peaks and troughs in the first few months of the year, but following the de-pegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency, serum plunged to May 2022.
• Things worsened in June 2022 when the token was further affected by the collapse of the Solana-based decentralized exchange SerumSwap.

Serum (SRM) is a decentralized exchange software that was built on Solana to facilitate the trading of cryptocurrencies. The platform was designed to offer users flexibility and control over their trading, by having a decentralized order book that mirrors traditional exchanges and matches buyers and sellers.

In 2021, the token experienced a strong surge in value due to the success of the Solana blockchain and the increasing demand for decentralized exchanges. However, things began to take a turn for the worse in early 2022. In May of that year, Serum suffered a major blow when the UST stablecoin was de-pegged, resulting in the collapse of the LUNA cryptocurrency.

The situation was further exacerbated in June when the SerumSwap decentralized exchange, built on Solana, also collapsed. This caused a significant drop in the value of SRM, as investors were now hesitant to invest in the token due to the instability of the platform.

However, despite the tumultuous year that SRM has endured, the token is still considered a safe haven for crypto investors. This is due to its decentralized nature, which allows traders to have complete control over their investments and transactions.

Furthermore, the token is still backed by the Solana blockchain, which is known for its speed and cost-effectiveness. As such, many investors are confident that SRM will eventually recover and possibly even exceed its previous highs.