According to a study by Bybit and Toluna, 64% of North Americans spend less than two hours or don’t research at all before investing in cryptocurrencies. Boomers (those aged 56-64) tend to be more cautious, focusing on technical factors and inspecting the market a few days before diving into it. Jumping on the Bandwagon Without...Read More
Despite much turmoil in 2022, the Bitcoin mining industry’s hashing technology only continued to grow more efficient throughout the year, according to a new survey from the Bitcoin Mining Council (BMC). The industry also grew marginally greener, retaining a sustainable energy mix of over 58%. Bitcoin is Green, Says BMC In a press release on...Read More
The United States Federal prosecutors have confiscated nearly $700 million in cash and assets connected to Sam Bankman-Fried, the disgraced founder of FTX. At the heart of the seizure are the 55 million Robinhood shares owned by Bankman-Fried and Gary Wang, valued at over $455 million. The ownership of the shares has been disputed even...Read More
Bitcoin mining company – CleanSpark – has started the construction of the second phase on a site in Washington, Georgia, that is set to accommodate 16,000 miners. This move is expected to increase its hash rate total to as high as 8.7 EH/s, thereby contributing an additional 2.2 EH/s. In the new phase, the mining...Read More
Scammers have created a fake FTX token, dubbed FTX 2.0, to impersonate the now-bankrupt crypto exchange less than 24 hours after the company’s new CEO announced that the platform could be revived. According to blockchain security firm PeckShield, the bad actors sent the tokens to the FTX exchange, pretending to add liquidity before airdropping them...Read More
Charles Hoskinson, CEO of Input Output Global, the firm behind the Cardano blockchain, is interested in purchasing the crypto news website CoinDesk. The latter is exploring a potential sale as its sister firm slid into bankruptcy. CoinDesk’s Kevin Worth recently asserted that the publication was receiving “numerous inbound indications of interest.” On Potential CoinDesk Acquisition...Read More
The cryptocurrency rally this month was so robust that traders are looking out for the price bottom. Is the market there yet, or will bears take the prices back down to key optical support at $20K? Here are four new bullish indicators for the BTC price. Solid MA Crossover in New Bitcoin Addresses On-chain intelligence...Read More
Ben Zhao, the founder of crypto exchange Bybit, took it to Twitter to address concerns raised over the company’s exposure to the now-bankrupt crypto lender Genesis Global Capital. According to court filings, Genesis owes its top 50 creditors $3.4 billion, including Bybit’s investment unit Mirana. The filing shows that the crypto lender owes Mirana approximately...Read More
Back in September, the Californian DFPI and other U.S. regulators ordered Nexo to desist from offering Earn Interest Products (EIP), which in the company’s case took the form of crypto asset lending accounts. At the time the charges were filed, Nexo had already ceased offering the accounts to U.S. investors. However, U.S. investors could still...Read More
Digital Currency Group (DCG) subsidiary Genesis has finally filed for Chapter 11 bankruptcy in the Southern District of New York (SDNY) court late Thursday night. The platform was engaged in a series of confidential negotiations with several creditor groups for weeks amid a liquidity crunch. According to the latest report, Genesis Global Holdco and two...Read More
Peter Thiel has been a long-time Bitcoin backer. But his fund closing almost all its crypto positions shortly before the market went downhill did not sit well with many. According to Fortune’s latest report, Thiel’s VC firm – Founders Fund – cashed out all of its bets on cryptocurrencies and made $1.8 billion in profit...Read More
ConsenSys – a blockchain software technology company – and Amber Group – a cryptocurrency platform based in Singapore – are the latest entities in the digital asset sector to announce staff layoffs. The former will trim its team by approximately 11%, while the latter reportedly plans to reduce its Hong Kong division by 50%. Adjusting...Read More
Multi-chain crypto wallet BitKeep revealed that it will launch the compensation portal in the first week of February, and 50% of the funds are expected to be returned to users by the end of the same month. The remaining funds will be distributed by the end of March. To avoid fluctuation, the asset valuation of...Read More
The acting Chief Executive Officer of FTX, John J. Ray III, who is in charge of making sure that the creditors of the bankrupt exchange receive as much compensation as possible, said that the platform might restart. In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange is on the...Read More
After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT. In a statement, OKX’s Chief Marketing...Read More
Several countries have been planning to explore stablecoins despite the initial reluctance and more recent implosion of Terra. The latest one to jump on the bandwagon is one of Australia’s four largest financial institutions – National Australia Bank (NAB). The new Australian dollar-pegged stablecoin created by NAB, dubbed AUDN, is set to be launched on...Read More
The long, drawn-out battle between fintech firm Ripple and the U.S. Securities and Exchange Commission could be coming to a conclusion, according to the company CEO. Speaking to CNBC at the World Economic Forum in Davos, Switzerland, on Jan. 18, Garlinghouse said that the judges are unlikely to rush a resolution, adding: “We’re optimistic that...Read More
While non-fungible tokens (NFTs) took a nosedive in popularity last year due to dwindling investor sentiments, the asset class has been gaining renewed user interest since the start of the year. The NFT market has seen strong activity over the past few weeks as the broader crypto market gradually recovers from the 2022 crypto winter....Read More
Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice. In an email to shareholders, as viewed by Bloomberg, the crypto investment firm said it is currently focused on “reducing operating expenses and preserving liquidity” in response to the current market environment. Troubles for DCG The FTX collapse exposed significant...Read More
The fall of Sam Bankman-Fried’s $32 billion crypto empire highlighted the importance of self-custody for users. In fact, investors have already hopped on the trend of holding their assets themselves rather than entrusting their hard-earned money to a third-party platform. According to the latest data compiled by crypto analytic company, Santiment, Bitcoin’s supply on centralized...Read More
Crypto exchange giant Coinbase becomes the latest firm to stop operations in Japan, citing unfavorable market conditions. The US-based company has conducted a series of job cuts in the last seven months, with the latest downsizing happening earlier in January 2023. In a blog post on Wednesday (January 18, 2023), Coinbase announced that users in...Read More
As the bankruptcy and restructuring saga of FTX and its affiliated entities continues to unfold, more and more instances of assets being transferred off of the exchange come to light. Inching Closer to Half a Billion The US DOJ has already begun investigating the $400 million hack that drained assets from FTX’s ownership. Whether the...Read More
The EU’s landmark Markets in Crypto Assets (MiCA) crypto regulations will not see a final vote until April. The delay is also likely to stall the process of pushing the new rules through. According to European Parliament representatives, the delay has been caused by problems translating the almost 400-page file into the 24 official languages...Read More
While the BTC price cratered over Alameda-FTX and Genesis-Gemini news, it decoupled from the S&P 500 Index and NASDAQ Composite. But after crypto exchange markets priced in the news, they were ready to rally with equities. Because of the Bitcoin stocks correlation, the price on crypto exchange markets moves in tandem with tech stocks like...Read More
According to CoinFLEX leadership, “there has been media speculation” on the subject of the new exchange they are building, tentatively named GTX. As previously reported by CryptoPotato, the tentative exchange would specialize in crypto bankruptcy cases. Management Team Staying Onboard After lambasting the “speculation” on the subject of the leaked GTX pitch decks – speculation...Read More
Liquidators of Sam Bankman-Fried’s bankrupt trading powerhouse Alameda Research reportedly incurred a significant loss of over $11 million since the start of the year due to multiple liquidations. According to blockchain analytics platform Arkham Intelligence, Alameda lost $11.5 million in liquidations, with a single loss of $4.85 million and a preventable loss of over $4...Read More
The world’s largest cryptocurrency exchange continues with its goal to reduce the overall BNB in circulation to 100 million. To do so, the company announced completing the 22nd burn of its native token. Binance’s statement informed that it has removed 2.064 million BNB from circulation, worth almost $620 million at today’s prices. The 22nd burn...Read More
Crypto markets have been flying this year, but an ongoing depressed outlook for the world economy could clip those wings. According to a WEF report on Jan. 16, the International Monetary Fund (IMF) expects around a third of the global economy to enter a recession in 2023. “Global growth prospects remain anaemic and global recession...Read More
The FTX crisis has put even more heat on centralized crypto exchanges, and cold wallets have all the focus now. It is only natural for the world’s largest crypto exchange to allow institutional players to keep their crypto in cold storage solution. Binance announced a new service, dubbed ‘Binance Mirror,’ an off-exchange settlement solution that...Read More
The Russian government and the Central Bank of Iran are reportedly mulling a partnership to create a new stablecoin that can facilitate cross-border settlements. The token will be pegged to the valuation of gold. The Mutual Operation According to a report by the Russian media outlet Vedomosti, the local authorities could collaborate with Iran’s central bank...Read More
