Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan. A filing by the firm to the U.S. Securities and Exchange Commission on Nov. 21 revealed that it has unplugged its hardware used
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The two founders of the now-defunct Bitcoin cloud miner HashFlare have been arrested in Estonia over their alleged involvement in a $575 million crypto fraud conspiracy. HashFlare was a cloud mining company created in 2015, which purported to allow customers to lease the company’s hashing power in order to mine cryptocurrencies and gain an equivalent
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says crypto exchange FTX isn’t “one fraudulent company in a serious industry.” Stating that the “Entire notion of crypto is nonsense,” the Fed president claimed it is “just a tool of speculation and greater fools.” Minneapolis Fed President Neel Kashkari on Crypto and FTX
Ethereum co-founder Vitalik Buterin says many people in the Ethereum community see the FTX collapse “as a validation of things they believed in all along: centralized anything is by default suspect.” However, he warned that automatically downgrading every single thing former FTX CEO Sam Bankman-Fried believed in “is an error.” Vitalik Buterin on FTX Meltdown
Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries. The firm’s new CEO has instructed the FTX team “to prioritize the preservation of franchise value as best we can in these difficult circumstances.” New FTX CEO Outlines Priorities Cryptocurrency exchange FTX and approximately 101 affiliated companies
The global cryptocurrency market capitalization has dropped below the $800 billion region for the first time in 691 days or since December 30, 2020. Bitcoin has dipped below the $16K region dropping 5.12% over the past 24 hours, and the second leading crypto asset ethereum shed 7.61% on Monday, dropping below the $1,100 range. Crypto
Several Chinese platforms are introducing metaverse tech in their coverage of Qatar’s 2022 soccer World Cup. The experiences, which will use virtual reality (VR) headsets and 5G as base tech, will allow the users to enjoy a metaverse-like view of the event, and will also give Chinese companies a chance to hone their implementations of
Bitcoin miners are dealing with lots of pressure following the recent difficulty adjustment increase on Nov. 20, 2022, and the leading crypto asset dropping further in value against the U.S. dollar following FTX’s collapse. Statistics recorded this past weekend show that bitcoin’s average cost of production has been a lot higher than bitcoin’s USD value
Near protocol fell to its lowest level in over sixteen months, as bearish pressure intensified on Nov. 21. Overall, cryptocurrencies started the week trading lower, following increased speculation on a prolonged market crash. Algorand was another notable token to fall, dropping by over 11% today. Near Protocol (NEAR) Near protocol (NEAR) dropped to its lowest
Just before the FTX collapse, bitcoin was trading above the $20K zone and after the problems started to show and the company filed for bankruptcy, bitcoin’s price dropped close to 19% lower than it was days before the fiasco. According to the official Bitcoin Obituaries list, the sliding crypto prices added another two bitcoin obituaries
According to the CEO of CME Group, Terry Duffy, the executive met with former FTX CEO Sam Bankman-Fried (SBF) last March at a conference, and Duffy ended up calling the FTX frontman a “fraud.” When Duffy sat down with SBF, the former FTX executive said his end goal was to compete with CME Group. Last
Bitcoin slipped below $16,000 on Nov. 21, as markets continued to react to the news that the FTX contagion had impacted yet another firm. Hong Kong-based crypto ATM firm Genesis Block halted its operations, as it looks to stabilize its liquidity pool. Ethereum was also lower, as prices remained below $1,200. Bitcoin Bitcoin (BTC) slipped
Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service. Brazilian Bank Itau Unibanco
The regulatory body overseeing the crypto market in Uzbekistan has issued licenses to two companies that will be providing exchange services. The decision to authorize their activities aims to make it easier for Uzbekistanis to purchase and sell digital currencies, the agency said. 2 Crypto Exchanges Licensed to Trade Coins in Uzbekistan Uzbekistan’s National Agency
The cryptocurrency exchange Binance is making a move in the hardware wallet industry, with its venture capital arm investing in the cold wallet platform Ngrave. Binance Labs has made a strategic investment in the Belgian hardware wallet firm Ngrave and will lead its upcoming Series A round, the firm officially announced on Nov. 21. Founded
The Brazilian cryptocurrency bill, sidelined several times due to the general election ballot that happened on October 30, might be discussed and voted on during the following week. According to reports, the project identified as 4.401/2021 will be on the agenda for being discussed by the Chamber of Deputies, marked as urgent, and listed to
Liquid has suspended all trading operations on its platform in line with instructions from FTX Trading, the firm announced on Twitter on Nov. 20. The statement indicates that Liquid exchange paused “all forms of trading” because of the operation of the Chapter 11 process in the Delaware courts. “We have since done so while we
Bitcoin (BTC) starts a new week still replaying November 2020 after its lowest weekly close in two years. The largest cryptocurrency, just like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of exchange FTX. Contagion is the world on everyone’s
On Sunday, Nov. 20, 2022, Bitcoin’s difficulty rise erased the recent 0.20% decline recorded two weeks ago, as the difficulty metric rose by 0.51% at block height 764,064. The increase on Sunday has pushed the difficulty rating to another all-time high, from 36.76 trillion to the current 36.95 trillion. Bitcoin Difficulty Reaches All-Time High Nearing
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take On Matters Related to Cryptocurrency Taxation in Ukraine The National Securities