Business Financial News

26.12 / 07:43

business Twitter data 400M Twitter users' data is reportedly on sale in the black market

400 million Twitter users’ data containing private emails and linked phone numbers have reportedly been up for sale on the black market.

26.12 / 06:45

business Adoption Bitcoin Shuts Down Hashrate freeze Bitcoin hashrate recovers after big freeze shuts down miners

Bitcoin’s network hashrate has returned to regular levels again, days after freezing temperatures across the United States put a strain on the nation's electricity grid — leading to a temporary drop in hashrate.

26.12 / 03:33

business Adoption Women Women who made a contribution to the crypto industry in 2022

2022 saw the continued rise of disruptive blockchain-centric concepts such as decentralized finance, GameFi, nonfungible tokens and Web3. Notably, some of the related projects that thrived in 2022 were headed by women, which is a good indicator of progress in an otherwise male-dominated sector.

26.12 / 01:35

business Binance regulation French investors sued Binance for over 2.4 million euros in losses

Binance France and its parent company Binance Holdings Limited are being sued by 15 investors in France over alleged misleading commercial practices and fraudulent concealment, according to local media reports.

25.12 / 23:01

business Binance CZ addresses reasons behind Binance's recent FUD

Binance CEO Changpeng "CZ" Zhao took to Twitter on Dec. 23 to share his perspective on the reasons behind the recent fear, uncertainty, and doubt (FUD) surrounding the crypto exchange.

25.12 / 20:17

business Adoption Banks Crypto is a nonexistent asset for big institutional investors - JPMorgan exec

Big institutional investors are still largely staying away from the crypto market, as the asset class' volatility poses a challenge to money managers, Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management, told Bloomberg.

25.12 / 14:35

business Hackers avalanche DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss

Defrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost V1 and Defrost V2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) and Avalanche (AVAX) tokens from the MetaMask wallets.

25.12 / 08:15

business regulation FTX FBI Fried Sam bail Sam Bankman-Fried found 'chilling' in JFK airport lounge on $250M bail bond

The momentary arrest of former FTX CEO Sam Bankman-Fried (SBF) can be attributed to the efforts taken by the crypto community to aid investigations and track down the whereabouts of the infamous entrepreneur. While SBF eventually escaped prison time via a $250 million bail bond, the community continues to monitor his every move publicly.

24.12 / 19:29

business Law Mining Blockware sued over alleged misrepresentation of miners' performance

London-based Faes & Company filed a complaint against crypto mining firm Blockware Solutions LLC on Dec. 17, claiming it misrepresented the performance capability of its miners and lacked adequate power access to keep the machines running.

24.12 / 13:41

business Law regulation FTX paid $12M retainer to a New York law firm before bankruptcy filing

Defunct crypto exchange FTX paid a retainer of $12 million to bankruptcy lawyers as security for payment of its fees and expenses amid Chapter 11 bankruptcy proceedings, shows a court filing dated Dec. 21.

24.12 / 12:53

business cryptocurrency World Fried Sam bail How Did Sam Bankman-Fried Make His $250 Million Bail?

The release this week of Sam Bankman-Fried, the disgraced cryptocurrency executive, from federal custody on a $250 million bond has raised questions about the federal bail process and why such a high-profile defendant was allowed to go free.

24.12 / 11:35

business Mining Loans Public Bitcoin mining companies plagued with $4B of collective debt

The recent bankruptcy filing of Bitcoin (BTC) miner Core Scientific despite a $72M relief offer from creditors raised questions about the overall health of the bitcoin mining community amid a prolonged bear market. Turns out, the public bitcoin miners owe more than $4 billion in liabilities and require an immediate restructuring to get out of the unsustainably high debt levels.

24.12 / 08:51

business Court Judge pulls out of SBF-FTX case citing husband's law firm's advisory link

The ongoing legal proceedings around former FTX CEO Sam Bankman-Fried (SBF) took a new turn as District Judge Ronnie Abrams withdrew her participation from the case. The United States District Court for the Southern District of New York rescued itself from the FTX case after revealing that a law firm — which employs Abrams’ husband as a partner — had advised the crypto exchange in 2021.

24.12 / 04:05

business Ethereum Binance Bitcoin Santas and Grinches: The heroes and villains of 2022

From an outside perspective, 2022 has been a rollercoaster ride for crypto. The market reached a total valuation of $3 trillion during the bull market of 2021, only to scale back to its current level of around $810 billion. While this poor performance can be partly attributed to the pervading macroeconomic environment — compounded by rising inflation rates and the ongoing Ukraine-Russia conflict, among other factors — one cannot deny the role that the recent slew of insolvencies has had on the sector.

24.12 / 01:03

business Fraud 2 executives of crypto exchange AAX arrested in Hong Kong: Report

Hong Kong police arrested two executives of the crypto exchange AAX accused of fraud and misleading the police, according to local media reports.

23.12 / 22:07

business VISA FTX Bankruptcy Crypto Biz: Contagion engulfs Bitcoin miners as bear market continues

Never underestimate how quickly things can deteriorate in a sector as volatile as crypto, especially in a bear market. Prices can always go lower in the depts of crypto winter and casualties can multiply overnight. 2022 has been a year of never-ending contagion; with everyone focused on Binance, high-profile Bitcoin (BTC) miners were going bust.

23.12 / 21:27

business SEC OKX reserves Crypto exchange OKX releases second proof of reserves

Crypto exchange OKX has released its second proof of reserves (PoR) on its website, only a month after releasing its first one.

23.12 / 15:11

business Law Robinhood regulation FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares

Embattled crypto exchange FTX asked for the assistance of a United States bankruptcy judge to prevent crypto lending firm BlockFi from claiming around $450 million worth of Robinhood shares purchased by its former CEO Sam Bankman-Fried.

23.12 / 09:01

business regulation Web3 HK HK legislator’s firm to lure 1,000 Web3 start-ups over 3 years

A start-up accelerator co-founded by Hong Kong legislative council member Jonny Ng Kit-Chong wants to attract 1,000 Web3 businesses to set up shop in the city-state over the next three years.

23.12 / 05:53

business Bankruptcy Bitcoin BTC miner Core Scientific gets interim nod for $37.4M bankruptcy loan

A U.S. bankruptcy court has granted Bitcoin (BTC) miner Core Scientific interim approval to access a $37.5 million loan from existing creditors to fund the firm amid its liquidity issues.

23.12 / 00:33

business regulation Decentralization DAO Marshall Islands legally recognizes DAOs as domestic limited liability companies

The Republic of the Marshall Islands, an independent island state located in the Pacific Ocean near the Equator, has announced that the Decentralized Autonomous Organizations Act of 2022 has officially been passed into law.

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