Global

A bankruptcy court has granted approval for Genesis Global, a bankrupt cryptocurrency lender, to distribute approximately $3 billion in cash and cryptocurrency to its creditors.

Despite widespread skepticism from crypto analysts and the larger crypto community regarding the approval of spot Ether exchange-traded funds (ETF) by the United States Securities and Exchange Commission (SEC), some analysts are suggesting that there might be room for a surprise.

In April, investments in blockchain gaming reached an impressive $988 million, marking the highest figure since January 2021. Additionally, the number of Daily Unique Active Wallets (DUAW) surged to a record 2.9 million for blockchain gaming in April alone.

In the past 24 hours, Bitcoin has continued its recent upward trend, reaching its highest price in over a month at just over $67,400. Ethereum has also joined the rally, breaking through the significant resistance level of $3,000 and surging above $3,100.

Param Labs, a gaming infrastructure developer based in the UAE, has secured a significant investment of $7 million to bolster the development of their Web3 gaming ecosystem.

An Australian man has admitted to participating in promoting cryptocurrency lending services for the now-defunct crypto exchange BitConnect, which gained notoriety as an alleged Ponzi scheme and ceased operations in 2018 amid accusations of defrauding victims of over $2.4 billion.