Marathon Digital Holdings – a leading bitcoin mining company – mined 707 BTC during Q2, 2022, which is an 8% Year-Over-Year increase. More importantly, though, the firm did not sell any of its crypto stash and currently owns 10,055 BTC. Despite the Bear Market, Marathon Kept Pushing The latest cryptocurrency mining company to announce its...Read More
Tesla and SpaceX CEO Elon Musk has backed out on his deal to purchase Twitter for $44 Million. In a filing on Friday, the CEO stated that Twitter hadn’t “complied with its contractual obligations” to him, as detailed in their Merger agreement on April 26th. One such requirement was that Twitter provide him with all...Read More
In the wake of its solvency crisis, new details have emerged about Celsius using investor funds to conduct high-risk leveraged crypto trading strategies. Losing Client’s Funds A new report by blockchain analytics firm Arkham Intelligence stated that Celsius entrusted corporate funds of around $530 million. Failing to hedge the risk resulted in a loss of...Read More
Peter Smith – CEO of crypto exchange platform BlockchainCom – said the fallout from VC firm Three Arrows Capital (3AC) could cause his company to lose $270,000,000. In a letter to shareholders dated June 24th, Smith said that 3AC had defaulted on $270,000,000 worth of crypto and U.S. Dollar loans from BlockchainCom. The CEO claims...Read More
US-based Bitcoin mining hosting service Compass Mining has become the latest company to reduce its workforce to survive and operate amid the ongoing cryptocurrency market downturn. In a letter to employees and investors on Thursday (July 7th, 2022), Compass Mining co-founders and interim CEOs Thomas Heller and Paul Gosker, said the firm “grew too quickly”...Read More
After losing the $1 Trillion markin June, the entire market capitalization of cryptocurrencies has just begun to climb back towards the lost milestone. According to data from CoinGecko, the market cap is $998 billion as of this writing. The largest cryptocurrency, Bitcoin, as well as numerous significant altcoins, saw significant gains. The largest cryptocurrency by...Read More
After weeks of treading in the red, the market briefly climbed to the $1 trillion mark. The world’s largest cryptocurrency – Bitcoin – as well as some major altcoins, raked in notable gains. Additionally, Coinbase’s Bitcoin price premium also seems to be recovering after surging near 0.075. Possible Whale Accumulation According to the data from...Read More
The world’s largest cryptocurrency exchange – Binance – doubled down on its European expansion plans. The company’s subsidiary – Moon Tech Spain – received a regulatory nod to register as a Virtual Asset Services Provider (VASP) in the Iberian country. Binance to Strengthen its Presence in Spain According to a document shared with CryptoPotato, the...Read More
Struggling cryptocurrency lending company Celsius has been accused by staking software firm KeyFi, of fraud, mismanagement of customers’ deposits, and failure to honor an agreement between both parties in a lawsuit filed in New York. Lawsuit Accuses Celsius of Operating a Ponzi Scheme Jason Stone, the founder of KeyFi, alleged that Celsius used customers’ funds...Read More
Shortly after filing for bankruptcy, embattled cryptocurrency brokerage firm Voyager Digital has reportedly come under scrutiny from the U.S. Federal Deposit Insurance Corporation (FDIC) for claiming that funds were FDIC-insured. According to the Wall Street Journal on Thursday (July 7, 2022), anonymous sources revealed that the FDIC is probing Voyager’s marketing. A statement on the...Read More
DeFi protocol Aave proposed to its community to create a USD-pegged stablecoin, GHO. The project would allow users to mint GHO against their supplied collaterals, with all the interest payments being sent to AaveDAO. Backed by Multiple Types of Collaterals Similar to the MakerDAO-issued stablecoin Dai, GHO would be minted based on users supplying a...Read More
After paying back an additional $41.2 million in Dai to decentralized lending platform Maker, Celsius Network now can reclaim approximately $450 million worth of BTC locked up as collateral on the protocol. Celsius has been actively paying back its loans to Maker in the past few days in a bid to drastically lower the liquidation...Read More
Ethereum’s price has rebounded strongly over the last seven days, climbing back up from a recent low below $1,000. ETH price is currently at $1228.41 a change of 7.71% over the past 24 hours. The current price action of ETH has led to market capitalization of $148,344,552,371 USD. The 24hr volume sits at $14,183,763,159 with...Read More
One of the leading cryptocurrency mining firms – Riot Blockchain – mined 421 BTC in June this year, a considerable increase compared to the 243 BTC produced in June 2021. The company has also started moving its miners from New York to Texas to reduce some of its costs during the peak energy months in...Read More
