The turbulent climate of the crypto industry is not putting a full stop to builders in the space. Arkon Energy, an Australian renewable data center infrastructure company, recently raised millions to expand its Bitcoin (BTC) mining operations and acquired another European-based data center. The funding round was completed with $28 million raised by the data
The Chicago Mercantile Exchange (CME) Bitcoin (BTC) futures have been trading below Bitcoin’s spot price on regular exchanges since Nov. 9, a situation that is technically referred to as backwardation. While it does point to a bearish market structure, there are multiple factors that can cause momentary distortions. Typically, these CME fixed-month contracts trade at
press release PRESS RELEASE. After 4 editions based on digital innovations related to Estrella Galicia’s value chain, The Hop takes another step toward the exploration and development of Web3 initiatives. 17 November 2022, A Coruña, Spain — The fourth edition of The Hop comes to a close this year, ending a cycle of 4 editions
Ethereum, dubbed as the “king of all altcoins” and the second largest cryptocurrency in terms of market capitalization, managed to trim its recent losses as it continues to struggle in this extended crypto winter. According to tracking from Coingecko, Ethereum is changing hands at $1,332.18, going up by 2.1% over the last 24 hours and
Bitcoin (BTC) ranged around $16,500 on Nov. 17 as markets digested the latest events surrounding exchange FTX. FTX CEO tells of “complete failure of corporate controls” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD seeing only mild volatility at the Wall Street open. The pair showed acclimatization to events around the FTX insolvency, the
The Caribbean nation of St. Kitts and Nevis may declare Bitcoin Cash (BCH) legal tender by March 2023. Prime Minister Terrance Drew made that announcement while he spoke at the Bitcoin Cash 2022 conference in St. Kitts on Nov. 12. St. Kitts and Nevis is a member of the Eastern Caribbean Central Bank and part of
In a recent report, FTX sent 50,000 Ethereum worth about $65 million to Voyager Digital’s main wallet. The CEO of Nansen, a blockchain analytics firm, Alex Svanevik, confirmed the transaction in a tweet. Due to the crypto winter, some crypto firms struggled with insolvency. This bearish market even pushed some crypto companies off the industry.
The “Bitcoin-is-dead” gang is back and at it again. The fall of the FTX cryptocurrency exchange has resurrected these infamous critics that are once again blaming a robbery on the money that was stolen, and not the robber. “We need regulation! Why did the government allow this to happen?” they scream. For instance, Chetan Bhagat,
A judicial authority established by the United Arab Emirates (UAE) Federal Decree has adopted blockchain technology to save time and costs related to the enforcement of commercial judgments. ADGM Courts, an authority that supports the financial regulator Abu Dhabi Global Markets (ADGM), has implemented blockchain technology to help save significant time for the parties in
Amid the latest bankruptcy case filed by FTX Trading Ltd., U.S. regulators want to crack down on crypto exchanges, and a class action lawsuit has been issued against former FTX CEO Sam Bankman-Fried (SBF) and 12 celebrities. However, this is not FTX’s and Alameda Research’s first rodeo with the U.S. court system and financial investigations.
Amid FTX contagion fears and the legal battle with the US Securities and Exchange Commission, Ripple Labs is currently hosting its Swell Global conference in London. Yesterday’s first day featured CEO Brad Garlinghouse (“BG”), among others, speaking about the massive progress made recently. Garlinghouse said on stage that he believes the crypto industry will emerge
Former FTX CEO Sam Bankman-Fried received a $1 billion personal loan from one of four silo companies deeply involved in the collapse of the FTX cryptocurrency exchange. A formal declaration in ongoing Chapter 11 bankruptcy filings from FTX’s new CEO John Ray III has revealed further misappropriation of funds by Bankman Fried. According to the
Months after the Ethereum Merge, when the network shifted to the more eco-friendly proof-of-stake (PoS) consensus, the Ethereum community is now shifting its focus to redress the network’s former proof-of-work (PoW) carbon emissions. At the COP 27 climate action event, Web3 firms, civil society leaders and the United Nations Framework Convention on Climate Change announced
Following the former FTX CEO Sam Bankman-Fried’s (SBF) interview with the New York Times and several direct text messages with Reuters, SBF recently did a much longer and more candid interview with Vox journalist Kelsey Piper. After the interview done via Twitter direct messages, the current FTX chief restructuring officer and CEO John Ray explained
Major cryptocurrency exchanges continue to carry out measures in the aftermath of FTX collapse, now halting deposits in Solana-based Tether (USDT) and USD Coin (USDC). Binance announced on Nov. 17 that deposits of Solana-based USDT and USDC have been “temporarily suspended until further notice” on the platform. The exchange referred to the tokens as “USDT (SOL)”
Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus on building a more decentralized crypto future. Using FTX as Custodian
The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently. Bitvo’s shareholder, Pateno Payments, has discontinued the acquisition deal with FTX Canada and FTX Trading in accordance with the agreement terms, Bitvo announced on Nov. 15. The firm emphasized that its operations have not been affected as Bitvo
Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to circumvent financial restrictions imposed over its invasion of Ukraine. Crypto and Ruble Considered for Payments in Trade Between Russia and Cuba The
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says that he would again back Sam Bankman-Fried (SBF), the former CEO of the collapsed crypto exchange FTX. “You can’t be serious,” many people told O’Leary, alleging that SBF is a fraud who stole billions from FTX customers. Kevin O’Leary Ignores Evidence of Fraud, Says He’d Back
Bitcoin (BTC) has flooded out of exchanges in the past week as users become wary of security and regulatory scrutiny. Data from on-chain monitoring resource Coinglass shows United States exchanges in particular seeing heavy BTC balance reductions. U.S. exchanges lead BTC exodus In the wake of the FTX scandal, efforts to draw attention to the