Bitvavo Exchange Rejects DCG Offer To Repay 70% Of Debt – January 11

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$17,408

Bitcoin price has reached as high as $17,500 over the last day of trading, as it continues to claw higher.

Top-20 altcoins have mostly seen small movements, as Ether remains unchanged, BNB rises 1% and XRP is the outlier with a 6% rally.

Top Stories for January 11, 2022 🔥

👉 Bitvavo Exchange Rejects DCG Offer To Repay 70% Of Debt

Dutch crypto exchange Bitvavo a major creditor of the troubled company, Digital Currency Group (DCG), has rejected a proposal from DCG to repay only 70% of the outstanding debt.

Bitvavo argued that DCG has sufficient resources available for full repayment and the outstanding amount is still being negotiated. Bitvavo also stated that the situation with DCG has no impact on its customers, platform, or services.

The firm had previously pre-funded about $290 million in assets locked on DCG to avoid reliance on the troubled firm and expected DCG to refund outstanding balances despite its liquidity crisis.

👉 Group One Takes Bullish Options Position On MicroStrategy

Group One, an options trading firm, has reported to the U.S Securities and Exchange Commission that it has taken a position of “beneficial ownership” in MicroStrategy that grants it the capability to purchase 1.26 million shares of Class A common stock.

The news led to a stock increase of 8.6% for Microstrategy. As of December 28, MicroStrategy holds a significant amount of Bitcoin, at approximately 132,500 BTC

👉 Hong Kong To Propose “Approved” List Of Tokens For Crypto Trading

Hong Kong’s Securities and Futures Commission (SFC) plans to allow retail trading in a select group of cryptocurrencies as a way to introduce regulatory clarity.

The SFC will propose a list of approved tokens that will be considered “highly liquid” assets and CEO of SFC Julia Leung said that the regulator’s focus is on investor protection.

Hong Kong’s virtual asset service provider regime will be focused on investor protection, following the collapse of FTX in November last year.