The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million. The company filed for bankruptcy protection a few days before Christmas 2022. Looking for a Way Out According to a...Read More
Orion Protocol – a liquidity aggregator for both CeFi and DeFi exchanges – saw its core contract hacked on Thursday across both its Ethereum and Binance Smart Chains (BSC) deployments. The hacker netted over 1700 ETH, cumulatively worth over $3 million at writing time. Another Reentrancy Hack As explained by the blockchain security company PeckShield...Read More
Tulip Trading – a Seychelles-based company founded by Craig Wright – has successfully brought its case against multiple Bitcoin developers to trial in the United Kingdom. Wright’s firm alleges that these developers owe “fiduciary duties,” or “duties of care” to police and control the Bitcoin network. The Duties of Bitcoin Developers The ruling, handed down...Read More
American media personality, professional wrestler, and actor Logan Paul is one of the defendants in a class action lawsuit filed against failed non-fungible token (NFT) project CryptoZoo. The class action, filed by police officer Don Holland on behalf of 20,000 other victims, alleges that Paul and other defendants executed a rug pull after manipulating the...Read More
Eleanor Terrett, a Fox Business correspondent, has stated that if the judge rules that secondary market transactions of LBC by people unaffiliated with or without investment intent in LBRY are legal, it may set a precedent that is favorable to XRP users. After this update, it appears as if the scales have shifted in favor...Read More
Silvergate, one of many creditors to take huge losses due to FTX going under, was previously forced to lay off 40% of its staff. This hit to its business was compounded by billions of dollars in substantial loans taken out to cover a potential bank run the organization feared might occur after FTX’s collapse. Silvergate...Read More
The stablecoins like USDT, USDC, etc experienced a wider adoption throughout the year 2022 as the bear market restricted the rally to a large extent. However, as 2023 began with a kickstart of giant price action, the demand for these stablecoins dropped. Therefore, the dominance of these tokens is plunging by a huge margin and...Read More
The world’s leading crypto exchange has given an ultimatum to the operator of WazirX to withdraw all customer funds stored on Binance’s infrastructure and wallets. This comes as Zanmai has supposedly refused to retract a previous “false public statement” against Binance. The spat between the two crypto trading platforms began last year when the Indian...Read More
The world’s largest cryptocurrency exchange – Binance – reportedly restored operations on the South Korean market after acquiring a majority stake in the distressed local platform Gopax. It halted operations in the Asian country in 2021, citing low interest and usage among local traders. Back in South Korea Binance revealed its intentions to purchase a 41.2%...Read More
[PRESS RELEASE – Boston, MA, 2nd February 2023] Helium co-founder and early founding team member launch a whitelabel blockchain nodes-as-a-service startup to reduce operating costs by up to 80 percent for enterprises running nodes for Staking and APIs as a service. BlockJoy is building the Web3 version of AWS on decentralized infrastructure, while still providing...Read More
[PRESS RELEASE – London, United Kingdom, 2nd February 2023] The Metacade presale is selling out fast, with stage 3 coming to a close after just 12 days. The presale of the play-to-earn (P2E) metaverse arcade saw its previous rounds sell out within 4 weeks, raising $2.7 million but this has been dwarfed in comparison to...Read More
On Feb. 2, industry-dominant crypto wallet MetaMask announced that users will see an “updated experience” for wallet creation and upgrades in their privacy and security settings. “We have updated the extension to maximize the control you have over your data,” it said. Under the advanced privacy settings, users can now toggle features that send requests...Read More
Months of lobbying by Indian and global crypto firms to see if the local tax laws will provide some leeway proved futile. The Indian Finance Minister, in her budget speech for the 2023-24 fiscal, did not mention crypto or virtual assets at all. No relief in existing crypto taxes has been granted. Crypto Taxes Unchanged ...Read More
Ethereum (ETH) is noticeably on the rise along with the overall increase in performance of most crypto assets. Though general crypto market sentiment continues to be the key driver of Ethereum price growth, network activity has boosted confidence among all Ethereum investors. In January 2023, Ethereum emerged from a downturn that had been in place...Read More
After a year of a prolonged crypto winter that’s seen former industry powerhouses lay off large swathes of their employees in a desperate bid to stay afloat, other firms are also feeling the squeeze, even if their MO does not depend on asset prices exclusively. Decline in Demand From Private Customers According to Maddie Kennedy,...Read More
