The crippling impact of May and June’s crash on Bitcoin miners still persists. New data revealed that August recorded the fourth consecutive month that has seen negative miner net flows. Bitcoin miners had to resort to selling in order to sustain themselves throughout August recording a net outflow of 21.3k BTC. The only month when...Read More
HashKey Capital Limited – the investment arm of the finance company HashKey Group – received approval from Hong Kong’s Securities and Futures Commission (SFC) to manage a portfolio of 100% digital assets. The regulatory green light doubled down on the pro-crypto stance that the special administrative region of China has displayed recently. Not long ago,...Read More
At the time of publication, Shiba Inu is selling at $0.000013 after a pullback of 1.23% over the last 24hrs. As the currency is making such a move, there could be an opportunity for shorting if the price drops. If that happens, Shiba Inu’s price might see a fall of 27% and drop to $0.0000093....Read More
While the Terra/UST $60 billion fiasco appears to be gradually dying down, South Korean prosecutors have revealed plans to launch a fresh investigation into the firm and its executives. According to a recent report by the Korean Herald, the Financial and Securities Crime Joint Investigation Team of the Seoul Southern District Prosecutors Office has met...Read More
In the final days leading up to Ethereum’s historic “Merge,” the largest American cryptocurrency exchange has provided some insight into the risks associated with the upgrade. Coinbase’s Senior Protocol Specialist Ben Rodriguez explained that the Merge may come with technical and operational risks, alongside risks for miners and dapp users. Risks of the Merge Per...Read More
The once notoriously high yields provided by crypto lending services are now struggling to compete with more traditional, safer options. While yields for 3-month treasury bills slowly rise, AAVE’s lending rates on USDC have slumped massively since May. Rates for the two products have now crossed one another, meaning government debt is offering a better...Read More
Users of MakerDAO, the organization behind DAI, will now be able to mint the stablecoin for free. This was made possible after an executive vote increased the debt ceiling for its stETH vault to 200 million DAI. The higher debt ceiling is expected to minimize its dependency on support from centralized collateral assets. As such,...Read More
BitGo confirmed earlier today that it had filed a lawsuit against the Mike Novogratz-spearheaded company seeking damages in excess of $100 million. Galaxy Digital planned to acquire BitGo earlier this year but backed out of the deal recently. In a September 13 Twitter thread, BitGo confirmed the previous rumors about the lawsuit, saying it was...Read More
Decentralized finance (DeFi) platform Cake DeFi will set up a global R&D hub called Birthday Research to develop best-in-class technologies for the blockchain and digital asset sectors. The project said its initial budget will be set at $50 million. Cake DeFi’s Research Hub Based in Singapore, Birthday Research will have a budget of $50 million...Read More
The overall demand for NFTs may be faltering, but those on the Solana are not. In fact, Solana NFT transactions skyrocketed to one million weekly, according to Nansen data. Pushing the trading volume across Solana-based NFT marketplaces are Magic Eden and Metaplex, that has increased their respective market shares of the overall NFT space this...Read More
Bitcoin price is slowly gaining its dominance as the asset has been holding the lower support finely from the past few hours. The bulls appear to be well-positioned and hence the price may be on its way to reaching the immediate resistance just below $23,000. However, the volume has been bullish for the past week...Read More
The American banking giant – JPMorgan Chase – is looking for a Vice President (VP), Payments Business Development Manager, to join its Technology, Media, and Telecom West Coast Payments Team to be part of the Web 3, Crypto, Fintech, & Metaverse division. JPMorgan’s latest push toward the digital asset industry could be considered a surprise...Read More
Writen by BitMEX Grantee Calvin Kim Abstract: Bailey and Sankigiri, in their paper “Merkle Trees Optimized for Stateless Clients in Bitcoin” present a new accumulator design for storing bitcoin state, claiming a dramatic improvement over previous work in Utreexo. However, we have identified flaws in the code used to claim these improvements. We show a...Read More
The California-based cryptocurrency exchange Abra plans to form two financial institutions, called Abra Bank and Abra International. The former will provide digital asset services to American customers and businesses, while the latter will expand outside the States. Abra Sets up Banks With Crypto Focus In a recent announcement, the company revealed that Abra Bank will...Read More
The talks and plans for an Ethereum Proof-of-Work fork after the Merge have been mounting for quite a while, and it seems that it will be taking place shortly after the migration to Proof-of-Stake. According to EthereumPoW’s latest Twitter thread, the Proof-of-Work fork will take place 24 hours following the Merge. The thread failed to...Read More
Blockchain company Amber Group will see a reduction of its workforce in the range of 5%-10% this year. The Singapore-headquartered firm has about 900 staff on its rolls, increasing from around 200 to 300 before the 2021 bull market. Reducing Headcount “We are currently reducing in roles that are lower in the priority given market...Read More
Near Foundation – the Swiss non-profit that oversees the development of Near Protocol – reportedly partnered with the VC firm Caerus Ventures to launch a $100M venture capital fund and venture lab. The main goal will be to support engineers, builders, and developers who work in the emerging Web 3 sector. Earlier this year, Near...Read More
The U.S. Department of Justice released a statement on September 12 reporting that Nikhil Wahi, brother of ex-Coinbase product manager Ishan Wahi, pleaded guilty to committing cryptocurrency wire fraud using insider information sourced from his brother. Per the release, Nikhil Wahi faces up to 20 years of possible jail time. In addition, he will have...Read More
