Business Financial News

08.03 / 08:57

business Adoption Survey FTX Digital Asset Paxos collapses 89% still trust centralized custodians despite 2022's collapses: Survey

American crypto users haven’t lost their trust in “intermediaries” to hold their crypto, with a January survey from Paxos suggesting a majority of United States crypto hodlers still trust banks, exchanges and mobile payment apps to custody their assets.

08.03 / 08:57

business regulation coinbase Scams Fraud Court debate Debate over 2FA using SMS after sim-swapping victim sues Coinbase

The crypto community is debating whether SMS two-factor authentication (2FA) should ever be used for account security following news that a Coinbase customer is suing the cryptocurrency exchange for $96,000.

08.03 / 03:45

business Banks Bloomberg Silvergate reportedly talks with FDIC on ways to avoid shutdown

United States banking regulators have reportedly been sent to Silvergate's headquarters in La Jolla, California — looking for ways to save the crypto-friendly bank from a possible shutdown.

08.03 / 02:35

business Binance Court Bankruptcy court approval SEC snubbed as Voyager wins court approval for sale to Binance US

Bankrupt cryptocurrency lender Voyager Digital has won court approval to sell over $1 billion of its assets to Binance US.

08.03 / 00:15

business Law Mt. Gox creditors Mt. Gox creditors have until March 10 to register and choose repayment method

Creditors from Mt. Gox have until the end of the week to register and select a repayment method as part of the plan by which they will be compensated for their losses with the defunct crypto exchange.

08.03 / 00:01

business Bankruptcy approved CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues

Crypto investment platform CoinFLEX has received approval for its restructuring plan from the courts in Seychelles, the company announced March 7 on its blog.

07.03 / 22:33

business Web3 Funding Web3 app Kresus raises $25M to bridge consumers to blockchain

Web3 app developer Kresus has closed a $25 million funding round to support the development of its so-called SuperApp, potentially opening the door to broader consumer adoption of digital assets.

07.03 / 20:39

business Blockchain Drop Q4 Bitcoin ASIC manufacturer Canaan saw 82% revenue drop in Q4

According to a new filing with the U.S. Securities and Exchange Commission on Mar. 7, Canaan, a Chinese Bitcoin (BTC) miner and manufacturer of application-specific integrated circuit (ASIC) mining machines, reported that its revenue decreased by 82.1% Y/Y to $56.8 million in Q4 2022. During the quarter, Canaan sold 1.9 million terahash per second worth of computing power for Bitcoin mining, not accounting for lower ASIC prices, representing a 75.8% decline from Q4 2021.

07.03 / 17:55

business Blockchain Binance reserves Binance adds 11 tokens to PoR, claims $63B in reserves

According to an announcement on Mar. 7, cryptocurrency exchange Binance has added an additional 11 tokens to its proof-of-reserves (PoR) report. These include MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE. With the latest update, Binance says it now has over $63 billion across 24 assets in its proof-of-reserves system. The largest assets on the exchange include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), with $12.7 billion, $7.1 billion, and $16.3 billion in net customer balances, respectively.

07.03 / 17:13

business regulation Investments Tokens Taxes tax breaks Thailand to offer tax breaks for investment token issuers

The government of Thailand is moving to benefit from the digital asset industry growth by allowing tax-free issuance of digital tokens for investment.

07.03 / 12:31

business Law DAO DAO gets legal recognition in the US as Utah DAO Act passes

The Utah State Legislature passed Act HB 357, the Utah Decentralized Autonomous Organizations Act (Utah DAO Act).

07.03 / 12:31

business Hash Rate Bitcoin Bitcoin production Argo increases Bitcoin production despite BTC difficulty growth

Publicly-listed Bitcoin (BTC) mining firm Argo Blockchain has increased its daily BTC production despite a significant spike in network difficulty.

07.03 / 10:13

business Binance regulation SEC us government Court Bankruptcy advisers NOT SEC not allowed to punish Voyager advisers over bankruptcy token, says US judge

The United States Securities Exchange Commission (SEC) won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy tokens to help repay impacted customers, bankruptcy judge Michael Wiles has said.

07.03 / 06:33

business Mining Mining Pools Bitcoin TeraWulf goes nuclear: 8,000 rigs spool up in Nautilus mining facility

United States-based Bitcoin mining company TeraWulf has fired up a new crypto mining facility in Pennsylvania — solely running on nuclear power generated on-site.

07.03 / 04:39

business Law Mining SEC Scams Court SEC accuses Utah firm of 'fraudulent' $18M crypto mining scheme

Software and crypto mining equipment offered by the Utah-based Green United LLC was part of an $18 million "fraudulent scheme" that never mined the crypto it said it would, according to allegations by the United States Securities and Exchange Commission (SEC).

07.03 / 03:21

business Ethereum Hackers Conference Meet the person who offered a comfy bed for 'scrappy' hackers during ETHDenver

Thousands of developers, hackers, and crypto and blockchain enthusiasts descended upon Denver, Colorado in the United States for the ETHDenver conference from Feb. 24 to Mar. 5.

07.03 / 01:11

business Grayscale FTX Alameda Research files suit against Grayscale over ‘self-imposed redemption ban’

Alameda Research has filed suit against Grayscale Investments in the Court of Chancery in the State of Delaware, it announced March 6. It also made claims against Grayscale CEO Michael Sonnenshein, Grayscale owner Digital Currency Group (DCG) and the group’s CEO Barry Silbert.

07.03 / 01:11

business Blockchain Technology Law Web3 Decentralization Digital Asset Hermès asks court to halt sales of MetaBirkin NFTs following recent jury decision

Hermès International, the French luxury fashion house, has requested a Manhattan federal court to block artist Mason Rothschild from marketing or owning his "MetaBirkin" non-fungible tokens (NFTs) following a recent jury decision that found Rothschild had violated Hermes' trademark rights in its famous Birkin bags, as reported by Reuters.

07.03 / 00:15

markets business Blockchain Investments Bitcoin Regulation Bitcoin Price Crypto Investment Products week Investor concerns persist as crypto investment products see 4th week of outflows

On Mar. 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that Investors have continued to display negative sentiment toward crypto investment products, with outflows totaling $17 million.

06.03 / 19:35

business CBDC transactions Central Bank BIS retail CBDC BIS wraps exploration project on retail CBDC payment system

The Bank for International Settlements, or BIS, has reported it has concluded a project exploring international retail and remittance payments use cases for central bank digital currencies, or CBDCs, with the central banks of Israel, Norway and Sweden.

06.03 / 17:15

business regulation lending Court creditors Babel wants to repay creditors via special ‘recovery coins’: Report

Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token.

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