The cryptocurrency-focused bank – Silvergate Capital – reported a net loss of $1 billion for the last quarter of 2022 due to the turmoil reigning in the digital asset sector. The firm recently laid off nearly half its workforce amid massive client withdrawal requests. The Disappointing Q4 The fourth quarter of 2022, with its market...Read More
OSL, a Hong Kong-based digital asset exchange, is cutting roughly a third of its costs following months of turbulence in the crypto market. That includes staff cuts – though the firm did not reveal how large a portion of its workforce was laid off. OSL provides crypto trading and custody services alongside software solutions for...Read More
Ethereum now has over 500,000 validators keeping the network secure ahead of its highly anticipated Shanghai upgrade, scheduled for March. The upgrade will allow such validators to withdraw their ETH from Ethereum’s staking contract – some of which has been locked up for years. Ethereum’s Surge in Validators According to data from BeaconScan, Ethereum’s validator...Read More
The world’s second largest cryptocurrency, Ethereum has performed exceptionally well since December 2022. Also the bulls are holding up well with the lead altcoin from the time when Ethereum has surpassed the 50 and 100-day moving average. Ethereum had even stepped into short-term consolidation moving towards $1.6K level before making a pull back. At the...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
[PRESS RELEASE – Please Read Disclaimer] (Victoria, Seychelles, 17 Jan 2023) – Leading crypto derivatives exchange Bitget announces to be the first exchange to launch copy trading in the spot market. As the first exchange for offering copy trading for derivatives in 2020, Bitget has honed its highly liquid, highly innovative flagship product, One-Click Copy...Read More
Midway through January, crypto investors want to know why Bitcoin’s price spiked. Is it a dead cat bounce, a bull trap, or is the BTC bottom in soon, if not already past? Crypto analysts have offered a wide range of opinions. The Bitcoin price remained in reject territory through December. Sellers were parting with the...Read More
On January 10, Flare Networks began distributing free FLR tokens to holders of XRP in a highly-anticipated airdrop event. To qualify, participants were required to provide proof of their XRP ownership through a screenshot taken in December 2020. Participating exchanges distributed the FLR tokens, but the value of the incentives was less than expected. Additionally,...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
Cardano, also known as the Ethereum-killer blockchain, initiated a fresh upward trajectory from the last week as the altcoin market witnessed a major explosion in the price chart since the beginning of the new year. Moreover, ADA’s price has been significantly blown with the current market conditions to mark a notable bullish rally as the...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
