Business Financial News

29.11 / 02:21

business Insurance Bitcoin Regulation GK8 increases insurance cap on digital assets to $1B

Digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policy for institutional customers — a move the company said would incentivize banks and other financial institutions to start investing in cryptocurrency.

28.11 / 23:37

business Twitter European Union Jack Dorsey’s Block sues Bitcoin.com for trademark infringement

Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private sale in May 2022.

28.11 / 21:23

business Blockchain Technology open Game7 allocates $100M in open-source technology grants for Web 3.0 gaming companies

On November 28, blockchain gaming accelerator Game7 announced that it would allocate $100 million in open-source technology grants to upcoming Web 3.0 startups. As told by the Game7, distributions will support individuals and entities building blockchain games, smart contracts, core software infrastructures, and community tooling. The grants will be paid in USD Coin (USDC).

28.11 / 21:23

business FTX marketing FTX logos and promotional material still everywhere despite bankruptcy proceedings

Before its liquidity issues and bankruptcy filing in November, FTX was well known for its prolific stance on making sponsorship deals. Even with many in and out of the space now associating the exchange with failed financial institutions, traces of the promotional glitter bomb it has unleashed on the world aren’t likely to go away anytime soon.

28.11 / 19:01

business Blockchain defi Bankruptcy BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles

BlockFi announced on Nov. 28 that it has filed for Chapter 11 bankruptcy. The filing in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several days of speculation on the company’s financial health after the collapse of FTX.

28.11 / 17:49

business Technology Adoption virtual reality Frontier Metaverse is a new frontier for earning passive income

When new technologies and platforms are created, there are incredible discovery phases in which economic activity eventually picks up and starts taking shape. The metaverse is arguably in that discovery phase, with many entrepreneurs finding ways to earn passive income on it.

28.11 / 16:59

business Twitter Binance Bitcoin Reserve audit Binance CEO explains 127K BTC transfer, points at proof-of-reserve audit

Cryptocurrency exchange Binance is moving large amounts of cryptocurrency as part of its proof-of-reserve (PoR) audits, according to the CEO.

28.11 / 13:15

business Bitcoin Line shuts down crypto exchange to focus on blockchain and LN token

The Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter.

28.11 / 11:45

business exchanges AAX exec leaves the crypto exchange amid ongoing operational halt

Weeks after the AAX exchange started halting its withdrawals, its vice president for global marketing and communications announced that he has resigned from his role at the cryptocurrency exchange.

28.11 / 11:43

business Adoption Google FTX Fried Sam FTX collapse drives curiosity around Sam Bankman-Fried, Google data shows

The fall of FTX seemingly had the biggest impact on the crypto ecosystem as Google searches for the CEO Sam Bankman-Fried (SBF) hit the roof over in November 2022. Some of the biggest drivers for this trend include mainstream media attention, colossal losses and political ties.

28.11 / 10:09

business Caribbean Bankruptcy Bitcoin FTX under 'active' civil and criminal investigation: Bahamas AG

The Bahamas Attorney General (AG) and Minister of Legal Affairs Ryan Pinder has confirmed that the collapsed crypto exchange FTX is the focus of an "active and ongoing" investigation by authorities from the Caribbean nation.

28.11 / 10:09

business Twitter Fraud Bankruptcy Three Arrow’s Su Zhu reveals latest attempts at a comeback post-FTX

Three Arrows Capital co-founder Su Zhu looks like he may be attempting a comeback amid the fallout over FTX and Sam Bankman-Fried — seen by some as the crypto industry’s newest supervillain.

28.11 / 08:31

business Blockchain Twitter Adoption elon Dogecoin jumps after Elon Musk shares glimpse into Twitter 2.0 plans

Billionaire entrepreneur Elon Musk has confirmed that he intends on integrating payments into what he describes as Twitter 2.0 — “The Everything App” — fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE).

28.11 / 07:55

business Tesla elon Bizarre $600K Elon Musk crypto statue marketing stunt falls flat

Tesla CEO Elon Musk has seemingly given the cold shoulder to a $600,000 monument of him in goat form — which was created as part of a bizarre crypto marketing stunt.

28.11 / 00:23

business Technology defi Telegram TON Telegram integration highlights synergy of blockchain community

As a result of a recent upgrade to the wallet bot, users of the Telegram app are now able to purchase and sell cryptocurrencies without leaving the application. The wallet bot was developed by The Open Network (TON, formerly Telegram Open Network) in April. The bot initially enabled users to buy, sell and trade Toncoin (TON) within the Telegram app, but a new update has added a fully functioning cryptocurrency wallet to the application.

27.11 / 13:35

business Funding Blockchain Game Fenix Games raises $150M to fuel next-generation blockchain gaming

Web3 game publisher Fenix Games raised $150 million in funding to acquire, invest and distribute blockchain games. The fund will be used to create a game publishing company specifically for mainstreaming blockchain games.

27.11 / 00:59

business regulation POW New York's mayor seeks balance with regulators after PoW mining moratorium

New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs related to crypto mining, according to reports on Nov 25.

26.11 / 13:29

business Adoption data IIROC-registered Canadian crypto exchange Coinsquare suffers data breach

Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users' personal information.

26.11 / 08:27

business Blockchain Binance Kraken reserves Binance proof-of-reserves is 'pointless without liabilities': Kraken CEO

The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities.

26.11 / 01:19

business Government Blockchain Investments the bahamas Trouble in the Bahamas following FTX collapse: Report

Following the collapse of crypto exchange FTX, which was headquartered in the island nation of Bahamas, Bahamians are reportedly still trying to find a way to make sense of everything, while remaining optimistic about the future.

26.11 / 00:35

business Investments Grayscale Senate Crypto Biz: Institutions short Bitcoin as SBF is ‘deeply sorry’ for FTX collapse

The monumental collapse of FTX will go down as one of the biggest corporate scandals of all time. But, at least Sam Bankman-Fried, or SBF, is sorry. On Nov. 22, the disgraced founder of FTX penned a letter to his former employees describing his role in the company’s bankruptcy. “I never intended this to happen,” he wrote. “I did not realize the full extent of the margin position, nor did I realize the magnitude of the risk posed by a hyper-correlated crash.” Get this: SBF still thinks the company can be saved because “there are billion of dollars of genuine interest from new investors.” Shouldn’t he be preoccupied with trying to avoid jail right now?

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