A study conducted by the financial consultancy firm – deVere Group – estimated that 82% of clients with over $1.2 million worth of investable assets sought advice on cryptocurrencies in the past 12 months. The significant interest came in spite of the broad market slump and the countless scandals and bankruptcies that happened in 2022....Read More
Wybo Wiersma – a 40-year-old Dutchman who studied at Oxford’s St Cross College – will serve a 54-month prison sentence for stealing £2,156,000 (more than $2.6 million) using a cryptocurrency scheme. UK detectives linked the scam to the man who used the pseudonym Norbert van den Berg in his malicious website and university coursework. ‘Greed...Read More
American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio. According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop....Read More
StarkWare – a company focused on Ethereum scaling – will open-source its Zero-Knowledge (ZK) software. StarkWare announced today that it plans to open-source its STARK Prover – the engine that’s designed to generate cryptographic proofs that compress hundreds of thousands of transactions for submission to Ethereum in fewer kilobytes than a smartphone photograph. This is...Read More
The latest company in relation to the disgraced FTX founder to file for bankruptcy is the holding firm owned by him and Gary Wang – Emergent Fidelity Technologies. It’s headquartered in Antigua and Barbuda and reportedly had just $20 million in cash and no other assets. The filings for Chapter 11 were submitted late on...Read More
The crypto market has been on a roll lately as major cryptocurrencies like Bitcoin have witnessed significant price swings in the last few days. The Bitcoin price trend has been stuck in a choppy range as it swings sideways with 1% volatility, creating a blurred vision for long-term holders. The primary reason behind this intense...Read More
The 25-bps interest rate hike with a solid report on job growth in the US economy has delivered a shockwave to the crypto market. While leading assets like Bitcoin and Ethereum prices are hovering near an uncertain price point, the altcoin market is performing relatively well and fulfilling investors’ bullish expectations. Moreover, the developing teams...Read More
Bitcoin miners located in Texas reportedly suffered severe disruption of their operations due to a blizzard that battered the region. The extreme weather conditions prompted them to switch off their machines to preserve the local power grid. The Cold Winter in Texas Surprised Crypto Miners As reported by Bloomberg, the ice storm that hit “the Lone...Read More
Chapter 12 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. The full book is available on Amazon. The book was written before the bankruptcy of FTX and therefore does not include coverage of this event. However, the book does provide useful commentary in the run up to the failure of FTX, which...Read More
A three-year low was reached in the market when FTX crashed, wiping away billions in client deposits. As a result of the FTX fiasco, Bitcoin fell to $15,500 and appeared to be headed considerably lower. Bitcoin has since recovered and posted considerable returns and is now hovering near the $23k mark. However, the market appears...Read More
