Business Financial News

05.01 / 09:29

business Law Hackers data LastPass data breach led to $53K in Bitcoin stolen, lawsuit alleges

A class action lawsuit has been filed against password management service LastPass following a data breach from Aug. 2022.

05.01 / 07:25

business partnerships partnership Wyre Crypto firm Juno urges users to withdraw after 'uncertainty' with custody partner

Fiat-to-crypto on-ramp solution provider Juno has urged its users to sell or self-custody the crypto on its platform citing “uncertainty” with its crypto custodian partner Wyre.

05.01 / 06:17

business Binance Reuters SEC SEC files objection to Binance.US’s plans to acquire Voyager Digital

The United States Securities and Exchange Commission (SEC) has filed a “limited objection” to crypto exchange Binance.US’s proposed $1 billion takeover of bankrupt crypto lender Voyager Digital, citing a lack of “necessary information.”

05.01 / 01:15

business Stablecoin Bankruptcy Celsius Judge rules Celsius owns funds in Earn accounts, paving the way for stablecoin sale

Judge Martin Glenn, who is presiding over the Celsius bankruptcy case, ruled on Jan. 4 that the funds in the Celsius interest-bearing Earn program belong to Celsius under the terms of the program’s terms of use. The funds reportedly amount to more than $4 billion.

05.01 / 00:29

business Blockchain Technology Metaverse LG Electronics' latest partnership seeks to bring interoperable metaverse platforms to TVs

South Korean tech giant LG Electronics announced that it has teamed up with Oorbit, a cloud-based technology platform and PIXELYNX, a company building an integrated music, gaming, and Web3 ecosystem, to bring the metaverse directly into the living rooms of viewers.

05.01 / 00:11

business Gemini Digital Currency Group Time Financial Genesis tells clients it needs more time on financial woes after Gemini demands action

Derar Islim, interim CEO of crypto market maker and lender Genesis, has sent a letter to clients updating them on the company’s efforts to prop up its finances and resume withdrawals and new lending. The letter, sent on Jan. 4, comes two days after a Twitter exchange between Barry Silbert, CEO of Genesis’ owner the Digital Currency Group, and Cameron Winklevoss, cofounder of the Gemini crypto exchange, in which Winklevoss criticized Genesis’ handling of its problems.

05.01 / 00:11

business Blockchain Technology Cake DeFi reserves Cake DeFi publishes Merkle tree-based Proof of Reserves

Singapore-based decentralized finance (DeFi) services firm, Cake DeFi, has announced the release of its Proof of Reserves using the cryptographically-audited Merkle tree method.

04.01 / 21:47

business Blockchain Adoption network MEXC Support MEXC launches $20M ecosystem fund to support Sei Network

According to a blog post published on Jan. 4, Singapore-based cryptocurrency exchange MEXC announced that it would allocate $20 million to support developments on Sei Network. A layer one blockchain designed for trading, Sei Network's stated features include native order matching, frontrunning protection, smart block propagation, and 600 milisecond on-chain trade settlement. Leo Zhao, investment manager of MEXC Ventures, commented:

04.01 / 20:03

business Technology Investments Trading Time How time-weighted average price can reduce the market impact of large trades

Time-weighted average price is an algorithmic trade execution strategy commonly used in traditional finance tools. The goal of the strategy is to produce an average execution price that is relatively close to the time-weighted average price (TWAP) for the period that the user specifies.

04.01 / 19:09

business Adoption Sport DAO AIM Web3 Projects Web3 projects aim to create engagement between fans and sports leagues

The multi-billion-dollar sports industry is undergoing a digital transformation and Web3 elements are likely to play a major role. This notion was highlighted in Deloitte’s “2022 Sports Industry Outlook” report, which predicts an acceleration in the blending of real and digital worlds, along with growing markets for nonfungible tokens (NFTs) and immersive technologies.

04.01 / 15:05

business Mining Bitcoin analysts Year of Bitcoin miners’ merge? Analysts predict key mining trends for 2023

After a shocking year for Bitcoin (BTC), public miners will focus on strengthening balance sheets and minimizing costs this year, according to industry analysts.

04.01 / 13:55

business Law Investments Framework Israeli securities regulator moves to establish crypto legal framework

The Israeli Securities Authority (ISA) proposes a framework for regulating digital assets as an increasing number of Israeli investors are exposed to digital assets, and over 150 companies operate in Israel, according to the regulator.

04.01 / 12:03

business Court Bitcoin Iran court orders the release of seized crypto mining equipment

Iranian authorities seized numerous crypto mining equipment over the past two years, citing stress on energy grids during winter. Now, a court ordered the release of crypto-mining equipment that was previously seized as a measure to conserve energy.

04.01 / 11:55

business FTX US regulators Customers Customers, Banks Should Be Wary Of Risks From Crypto-Assets, Warn US Regulators

The dramatic collapse of the trading platform FTX in 2022 has led to concern among regulators. (File)

04.01 / 08:13

business Ethereum Gemini Bitcoin Grayscale ETH trust nears record 60% discount as nerves continue over DCG

The Grayscale Ethereum Trust (ETHE) is trading at nearly a 60% discount to the underlying value of its assets, with shares falling 93% from its Jun. 2019 all-time high (ATH).

04.01 / 05:53

business Court Bitcoin Core Scientific shuts down 37K mining rigs it was hosting for Celsius

Bankrupt cryptocurrency lender Celsius Network has agreed to let Bitcoin (BTC) miner Core Scientific shut off more than 37,000 mining rigs it had been hosting for Celsius during the miner’s bankruptcy proceedings.

04.01 / 03:59

business Government Blockchain Ripple regulatory Ripple CEO optimistic about US 'regulatory clarity for crypto'

Ripple's CEO, Brad Garlinghouse, shared in a Jan. 3 Twitter thread he's “cautiously optimistic” about the United States gaining "breakthrough" regulatory clarity for the cryptocurrency industry in 2023.

04.01 / 00:07

business Blockchain Space Cryptography Cryptosat launches second 'cryptographically-equipped' satellite using SpaceX rocket

The company behind a crypto-satellite module launched in May has announced an additional piece of its blockchain-related infrastructure went into Earth orbit.

03.01 / 23:01

business Government Adoption Binance Tribulations and triumphs: The biggest surprises in crypto of 2022

2022 saw the fall of many linchpin crypto and blockchain firms as the May market drawdown shook the industry. It caused many cryptocurrencies to lose value and many investors to pull their money from the market. Furthermore, the unprecedented knock-on effects of the meltdown exposed many blockchain and cryptocurrency firms that were ill-prepared for turbulent times.

03.01 / 22:11

business Blockchain FinTech Blockchain fintech GammaRey signs $320M merger agreement

According to an announcement on Jan.3, blockchain fintech firm GammaRey signed a merger agreement with financial e-commerce and consumer data analytics company GoLogiq. Both companies are based in the U.S., while GoLogiq focuses on customers in Southeast Asia.

03.01 / 20:55

business Blockchain Bitcoin miners see mixed successes in tackling debt-fueled overexpansion crisis

According to a recent report by Hash Rate Index, publicly-listed Bitcoin (BTC) miners took on more than $4 billion worth of debt during the run-up to the crypto bull market. Mesmerized by rising prices, industry rushed hand over fist to purchase Bitcoin application-specific integrated circuits miners on easy credit.

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