Business Financial News
06.12 / 19:55
business
Blockchain
Technology
MetaMask
ConsenSys will shorten MetaMask data retention to 7 days following privacy discourse
In a privacy update published Dec. 6, ConsenSys, the developer of the popular MetaMask browser wallet, said it would reduce its retention of user data such as wallet addresses and IP addresses to seven days. Previously on Nov. 24, ConsenSys updated its privacy policy to clarify how Infura, or MetaMask's default Remote Procedure Call (RPC), works with user data such as including IP addresses. The revelation sparked controversy in the crypto community regarding privacy concerns, leading the firm to clarify that IP addresses collected through MetaMask will not be monetized or "exploited."
06.12 / 19:55
business
security
Apple
Bitcoin
‘Father of the iPod’ helps Ledger create new cold crypto wallet
Hardware wallet provider Ledger, known for its cold-storage devices, announced its seventh crypto wallet in collaboration with the creator of the original iPod.
06.12 / 19:55
business
Blockchain
Technology
DEX
Sushiswap chief says it only has 1.5 years of treasury runway left
According to a new proposal dated Dec. 6, Jared Grey, CEO of decentralized exchange Sushiswap (SUSHI), disclosed that the project's Treasury has less than 1.5 years of runaway left, and the "significant deficit in the treasury threatens Sushi's operational viability, requiring an immediate remedy." Grey explained that Sushiswap's annualized operating expenses amounted to roughly $9 million in October, however, that has since been reduced to around $5 million.
06.12 / 12:35
business
Blockchain
Investments
goldman sachs
Goldman Sachs reportedly looking to buy crypto firms after FTX collapse
As crypto company valuations are affected by the recent FTX debacle, financial services firm Goldman Sachs is looking to swoop in and invest millions to purchase or invest in crypto firms while the prices are low.
06.12 / 10:45
business
Blockchain
Banks
Bitcoin
Silvergate CEO calls out 'short sellers' spreading misinformation
Silvergate Capital CEO Alan Lane has slammed “short sellers” and “other opportunists” for spreading misinformation over the last few weeks — just to score themselves a quick buck.
06.12 / 10:45
business
Adoption
Scams
YouTube
Metallica issues crypto scam alert before the 72 Seasons album launch
It’s quite evident that bad actors have left no stone unturned as legendary metal band Metallica warned fans against crypto giveaway scams right before their highly anticipated launch of its new album, 72 Seasons.
06.12 / 07:41
business
Blockchain
Twitter
Rumors of a new native 'Twitter Coin' emerge while Dogecoiners remain hopeful
Social media users are swirling around rumors that Twitter is looking at introducing its own native asset called “Twitter Coin” to be used for payments and tipping on the platform.
06.12 / 07:11
business
SEC
advertisement
US consumer watchdog probes crypto firms over deceptive ads
Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies.
06.12 / 05:49
business
Government
Blockchain
Bitcoin
Kentucky to scrutinize contracts offering cheaper electricity to miners
The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations.
06.12 / 00:47
business
lending
Nexo leaving US, says country lacks clear regulations
The crypto borrowing and lending platform Nexo plans to gradually cease operations in the United States “over the coming months,” according to a blog post on Dec. 5. Nexo has stated that the decision to leave the U.S. is “regrettable but necessary.”
05.12 / 23:49
business
Metaverse
place
Metaverse comes in second place for Oxford's word of the year
The Oxford University Press team chose 'metaverse’ to come in as a runner-up to ‘Goblin mode’ for the word of the year in 2022.
05.12 / 23:15
business
CBDC
Central Bank
Central bank plans to make CBDC 'only legal digital tender' in Indonesia, says gov
Bank of Indonesia governor Perry Warjiyo has announced developments in its plans to launch a central bank digital currency, or CBDC, for “various digital economic and financial transactions.”
05.12 / 21:57
business
Blockchain
Investments
Scams
Maple Finance cuts ties with Orthogonal Trading over alleged misrepresentation of finances
Blockchain-based institutional capital marketplace Maple Finance announced on Dec 5 that it plans to cut all ties with Orthogonal Trading due to alleged misrepresentation of finances following the collapse of FTX.
05.12 / 17:51
business
Blockchain
Technology
Stablecoin
Concord
USDC issuer Circle terminates SPAC merger with Concord
According to a new press release published on Dec. 5, USD Coin (USDC) issuer Circle announced the mutual termination of its proposed merger with special purpose acquisition company, or SPAC, Concord Acquisition. The deal was announced in July 2021 with a preliminary valuation of $4.5 billion and was then amended in February 2022 when Circle's valuation ballooned to $9 billion. USDC is currently the second largest stablecoin in circulation, with a market cap of $43 billion.
05.12 / 14:57
business
Blockchain
exchanges
Job
Crypto layoffs trigger mixed responses from the community
As more crypto companies have cut off their staff to weather the effects of the bear market, crypto community members have posted various reactions from giving encouragement to trying to hire the professionals that were recently let go.
05.12 / 14:05
05.12 / 09:41
business
Blockchain
Bankruptcy
Novogratz’s Galaxy Digital to acquire Celsius' GK8 in bankruptcy garage sale
Mike Novogratz-led investment firm Galaxy Digital Holdings has won the bidding to buy GK8, an institutional digital asset self-custody platform owned by Celsius Network — pending court approvals and certain closing conditions.
05.12 / 09:41
business
Investments
FTX
Swyftx
Swyftx cuts 40% of staff as it braces against 'worst-case scenario'
Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in global trading volumes next year.
05.12 / 06:53
business
FTX
New York State
Alameda ex-CEO Caroline Ellison spotted in New York, Twitter users claim
A recent photo of what appears to be former Alameda Research CEO Caroline Ellison in a Manhattan coffee shop in New York has been making the rounds on Twitter.
05.12 / 05:51
business
regulation
Congress
Despite endless media appearances, SBF unlikely to testify on 13th
Former CEO of FTX, Sam Bankman-Fried, has signaled he's unwilling to testify before the United States Congress until he’s “finished learning and reviewing what happened.”
04.12 / 21:53
business
Africa
AAX clients storm exchange's office in Lagos following operational halt
Nigerian customer's of the crypto exchange AAX reportedly attacked the company's office in Lagos and harassed its employees, in a response for the recent halt of withdrawals, according to local reports from Dec. 3.
what you should know about business
What is business and why is it gaining attention?
Business is a trending topic that is in the spotlight. On our site, we regularly publish articles related to this subject.
Where can I find the latest updates on business?
All new posts about business can be found in the special selection. We publish information regularly.
How can I verify the accuracy of information on business?
We use verified data to ensure that the information about business is accurate and valuable for our readers.
