Business Financial News

04.12 / 19:55

business Adoption Bitcoin Bullish on Bitcoin, US Senator Ted Cruz wants Texas to be a crypto oasis

United States Senator Ted Cruz wants to make the American state of Texas an oasis for Bitcoin (BTC) and cryptocurrencies. Speaking at the Texas Blockchain Summit 2022 in late November, the politician empathized how the crypto industry can be strategic for the U.S. energy supply and technological development.

04.12 / 15:21

business Adoption Trading Liquidity Bybit announces second round of layoffs in 2022 to survive bear market

Yes, the bear market weeds out the bad actor, but it also forces the existing players to rethink their business strategies to offset resultant losses. In this effort, crypto exchange Bybit announced mass layoffs for the second time in 2022.

04.12 / 12:11

business Fraud Donations Media Elections elon Elon Musk alleges SBF donated over $1B to Democrats: "Where did it go?"

The attempts of mainstream media to water down the frauds committed by FTX CEO Sam Bankman-Fried (SBF) did not fare well in convincing the crypto community and entrepreneurs. Instead, the misinformation campaign collided with Tesla CEO Elon Musk’s drive to position Twitter as "the most accurate source of information."

04.12 / 00:41

business Mining FTX Alameda Research invested $1.15B in crypto miner Genesis Digital: Report

Crypto mining company Genesis Digital Assets was the biggest venture investment made by Alameda Research, FTX's sister company and in the center of the exchange's bankruptcy. Documents disclosed by Bloomberg on Dec. 3 show that Genesis Digital raised $1.15 billion from Alameda in less than nine months.

04.12 / 00:41

business Digital Currency Grayscale Will Grayscale be the next FTX?

On Nov. 18, Grayscale, the asset manager running the world’s largest Bitcoin (BTC) fund, released a statement detailing the security of its digital assets products and affirming that it won’t share its proof of reserves with customers.

03.12 / 20:05

business defi Gemini FTX Crypto lender Genesis Crypto lender Genesis allegedly owes $900M to Gemini's clients: Report

Crypto lender Genesis and its parent company Digital Currency Group (DCG) allegedly owes $900 million to Gemini's clients, according to a Financial Times report disclosed on Dec. 3 citing people familiar with the matter.

03.12 / 18:15

business Ethereum Adoption Cardano Future The future of smart contract adoption for enterprises

Decentralized finance (DeFi) markets may have cooled down over the past year, but the technology powering these applications continues to advance. In particular, smart contract platforms that enable transactions to take place across DeFi applications are maturing to meet enterprise requirements.

03.12 / 15:21

business Blockchain Asia Power services Avalanche to power Alibaba Cloud's infrastructure services in Asia

Alibaba Cloud, a.k.a Aliyun, a subset of Chinese e-commerce giant Alibaba, announced an integration with Avalanche blockchain to power the company’s Node-as-a-Service initiatives.

03.12 / 15:13

business European Union COVID-19 Pandemic strain Lax approach to COVID-19 pandemic could create a deadly strain - WHO chief

Neglecting COVID-19 this year is creating the perfect conditions for a deadly new variant to emerge, the head of the World Health Organization said on Friday.

03.12 / 08:47

business Adoption Investments Funding FTX US ex-president reportedly seeks $6M funding to launch crypto startup

Just a month after the controversial fall of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is reportedly seeking out investors to launch a crypto startup.

03.12 / 00:05

business Blockchain Technology defi Ankr says no one should trade aBNBc, only LPs "caught off guard" will be compensated

Following yesterday's confirmed multi-million dollar exploit, BNB Chain based protocol Ankr took to its company blog on Dec. 2 to relay its next steps to users.

02.12 / 22:53

business Law Bankruptcy hedge fund 3AC bankruptcy process faces challenges amid unknown whereabouts of founders

Liquidators for Three Arrows Capital (3AC) will have to present further documents to grant the permission to subpoena the now-bankrupt crypto hedge fund's founders through Twitter, according to a decision from judge Martin Glenn during a virtual hearing for the Southern District of New York Bankruptcy Court on Dec. 2.

02.12 / 17:53

business Blockchain Health Medicine How smart contracts can improve efficiency in healthcare

Smart contracts are self-executing lines of code that run atop blockchains and are triggered once a set of predetermined conditions are met. They are used to automate the execution of online agreements without the involvement of third parties. Today, they are used across many industries, including the healthcare industry.

02.12 / 17:25

business Bitcoin acquires Thai VC fund acquires troubled exchange Zipmex for $100M: Report

After weeks of negotiations on a potential buyout of Zipmex, venture capital fund V Ventures has reportedly reached a deal to acquire the embattled cryptocurrency exchange.

02.12 / 13:49

business Adoption Metaverse acquires Firefox dev Mozilla goes all-in on metaverse, acquires Active Replica

The web developer Mozilla, mainly known for its internet browser Firefox, has joined the rush of legacy internet platforms jumping into the Web3 and metaverse development space.

02.12 / 08:55

business regulation Fraud FTX Jail Fried Mike Novogratz: Bankman-Fried is 'delusional' and headed to jail

Former FTX CEO Sam Bankman-Fried (SBF) has been lambasted this week following a series of controversial public appearances, with Galaxy Digital’s Mike Novogratz one of the latest to dish out a lashing to the former kingpin of crypto.

02.12 / 08:55

business Trading Scams YouTube 500 Front-running scams rampant on YouTube with 500% surge in 2022: CertiK

Front-running scam bots are significantly gaining traction on YouTube, with the number of dubious videos increasing six-fold in 2022 according to a new report from blockchain security firm CertiK.

02.12 / 08:55

business regulation SEC Court U.S. Trustee: FTX was the 'fastest' corporate failure in American history, calls for probe

The United States Trustee handling FTX’s bankruptcy proceedings has referred to the now-defunct exchange as the "fastest big corporate failure in American history," and is calling for an independent probe to look into its downfall.

02.12 / 06:25

business Blockchain Ethereum Adoption Trader Joe takes its first step into the Ethereum ecosystem

Decentralized finance (DeFi) protocol Trader Joe has announced its very first expansion from Avalanche and onto the Ethereum ecosystem, as part of its plans to access new markets and drive up user activity.

02.12 / 04:51

business FTX Bankruptcy FTX Japan drafts plan to return client funds

The Japanese subsidiary of the now-defunct FTX crypto exchange has come out with a roadmap to resume withdrawals, after confirming that its customers’ assets are not part of FTX's bankruptcy proceedings.

02.12 / 01:51

business Blockchain Investments Scams Fried Sam Customer Former FTX CEO Sam Bankman-Fried denies "improper use" of customer funds

An interview between the Former FTX CEO Sam Bankman-Fried ‘SBF’ and George Stephanopoulos aired on Good Morning America on Dec. 1.

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