Cryptocurrency

In 2023, Bitcoin witnessed significant gains, attracting investors back in large numbers in recent weeks. This surge has propelled Bitcoin's market capitalization above $1 trillion for the first time since its peak in 2021, according to CoinMarketCap data.

In a filing with the Hong Kong stock exchange, Sinohope reported a staggering net loss of $37 million, marking a near 40 percent increase from its net loss during the same period in 2022, according to the South China Morning Post.

Among the notable incidents this year, Hong Kong-based crypto company Mixin fell victim to a data breach in September, resulting in the theft of $200 million. Another significant hack took place in March when cyber-criminals seized about $197 million from the crypto lending platform Euler Finance.

Bitcoin, the crypto’s bellwether asset, is up 160 per cent for the year. Two high-profile court cases came down in the industry’s favour.

The foundation explained that it is committed to collaborating with global partners to ensure compliance with regulatory standards, providing a secure, transparent, and safe experience for verified users.

Kwon, who was apprehended at the airport in Montenegro in March with counterfeit documents, awaits a final decision on extradition from the Montenegrin Justice Minister.

According to CoinDesk, Genesis has accused Gemini, owned by the Winklevoss twins, of making substantial withdrawals just before Genesis filed for bankruptcy.

The challenges faced by crypto startups in securing fresh capital are evident despite the market's notable recovery from the crypto winter of 2022.