Business Financial News

04.11 / 22:03

business Twitter Binance Crypto Biz: Was Celsius just a Ponzi after all?

Crypto lender Celsius was one of the biggest casualties of the bear market. After halting withdrawals for months due to “extreme market conditions,” the distressed lender officially filed for Chapter 11 bankruptcy on July 13. Now, the federal judge overseeing the bankruptcy proceedings has ordered the case examiner to determine whether the company was operating like a Ponzi scheme. Disgruntled Celsius customers have made a strong case that the company’s business operations met the legal definition of a Ponzi. After all, it didn’t take long for Celsius’ business model to crumble under volatility. This is one case we should all be monitoring very closely.

04.11 / 14:09

business defi Cybersecurity security Immunefi launches scoring system for Web3's elite white hats

Bug bounty platform Immunefi has released its Whitehat Leaderboard — a scoring system that showcases the top 20 most elite white hats in Web3. The rank will measure a given white hat's skills and status amid Immunefi's security community, said the company at the Web Summit on Nov 4.

04.11 / 12:33

business Stablecoin Circle Reserve Circle starts pouring money into its Reserve Fund, aims to fill it in 2023

Circle, the issuer behind USD Coin (UDSC), announced that it has now begun to invest part of its funds in Circle Reserve Fund, created earlier in a partnership with the world’s largest asset manager, BlackRock. The move came as a part of Circle’s effort to minimize risks and guarantee its holders the redeemability of their coins.

04.11 / 09:45

business coinbase BitMEX inflation Moonvember kicks off with sweeping staff layoffs across crypto

The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note some are bucking the trend.

04.11 / 06:15

business coinbase Report Q3 Coinbase transaction revenues plummet 44% as users activity declines in Q3

Crypto exchange Coinbase saw a huge fall in its transaction revenues in the third quarter after activity fell amid a broader market downturn, but managed to cut its losses in half compared to the prior quarter.

04.11 / 05:49

business Government Blockchain Terraform Labs South Korean prosecutors accuse Do Kwon of manipulating Terra's price

A local report from South Korea claims that the country's prosecutors have obtained evidence to suggest Terraform Labs co-founder Do Kwon had onceordered an employee to manipulate the price of Terra Luna Classic (LUNC).

04.11 / 01:11

business Blockchain Technology Bakkt Digital asset platform Bakkt set to acquire Apex Crypto for $200M

Digital asset platform Bakkt has entered into an agreement to acquire Apex Crypto, LLC from Apex Fintech Solutions, Inc. According to the agreement, Bakkt is expected to acquire Apex Crypto for the price tag of $200 million, making its first payment of $55million at the closing of the deal. The transaction will likely be completed by the first half of 2023 and is subject to regulatory approvals.

04.11 / 01:05

business Mining Electricity Crypto miners Quebec's energy manager to seek government approval to stop powering crypto miners

Hydro-Québec, the firm managing electricity across the Canadian province of Quebec, plans to reallocate energy supplied to crypto mining firms.

04.11 / 01:05

business Blockchain regulation Santander Customers Santander UK limits crypto transactions for its customers

Multinational banking group Santander has placed a limit on all crypto transactions for its customers in the UK. The group cited cryptocurrency fraud warnings from regulators as the reason behind its decision.

04.11 / 01:05

business Blockchain Gaming wax Traditional firms likely won't be leading the charge in the next generation of Web3 games — WAX CEO

Traditional ideas about gaming, coming from both the firms developing the games and the players themselves, could slow down adoption of Web3 games, according to WAX co-founder and CEO William Quigley.

03.11 / 23:53

business Digital Asset Goldman Sachs creates digital asset taxonomy system for subscribing investors

Goldman Sachs, MSCI, and Coin Metrics announced Nov. 3 that they have devised a digital assets classification system to increase the transparency of market movements and help market participants analyze the digital assets ecosystem. The new system is called datonomy and is available by subscription from the three companies.

03.11 / 23:53

business Blockchain Technology Twitter What will Crypto Twitter look like post-acquisition? Blockchain executives share their insights

Nearly seven months after Tesla CEO Elon Musk first made a tender offer to purchase social-media giant Twitter, the $44 billion deal finally came to a close, resembling much of the original terms despite a heated corporate tug-of-war. As a platform for news announcements, marketing, and developer-user communication in the blockchain realm, crypto enthusiasts have already begun to speculate on the future of Twitter now that it's in the hands of the billionaire tech entrepreneur.

03.11 / 19:49

business Trading retail CNBC Fidelity offers retail investors commission-free BTC and ETH trading

Fidelity Investments is expanding retail access to commission-free cryptocurrency trading services — a move designed to recognize growing mainstream interest in digital assets.

03.11 / 16:49

business Technology Hackers Trading Low How low liquidity led to Mango Markets losing over $116 million

It would seem that the hackers used an “oracle price manipulation” tactic in the exploit on the Solana-based DeFi network, as indicated by a tweet sent by the official account for the Mango cryptocurrency exchange.

03.11 / 16:21

business Bank of England Interest rates Bank of England raises interest rates to 3%, largest jump in 33 years

Desperate times call for desperate measures. The Bank of England, effectively the United Kingdom version of the Federal Reserve, has raised interest rates by the highest rate in 33 years.

03.11 / 15:19

business Blockchain Stablecoin MasterCard Mastercard adds 7 blockchain startups to its crypto accelerator

Global payment giant Mastercard continues supporting cryptocurrency and blockchain startups as part of its fintech accelerator, the Mastercard Start Path program.

03.11 / 09:29

business Blockchain Adoption retail Q3 NOT Robinhood not giving up on crypto despite Q3 crypto revenue slashing 12%

Crypto and stock trading platform Robinhood highlighted lagging cryptocurrency revenue in the third quarter of 2022, though the results will do little to dampen its ambition to serve the market, its CEO says.

03.11 / 07:15

business Blockchain Technology Programmer spends 69 nights in 'Bitcoin Cash City' using only BCH: Here's how it went

When programmer Jonathan Silverblood flew to Townsville, Australia from his Finland home for a two-and-a-half-month holiday in August, he had one main task — pay for everything he could using Bitcoin Cash (BCH).

03.11 / 05:39

business Blockchain Adoption JP Morgan executes first DeFi trade on public blockchain

Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain.

03.11 / 01:17

business defi collapses 'Great cryptocurrencies have to go through several collapses,' says Cardano founder

Charles Hoskinson, the founder of Cardano and one of the co-founders of Ethereum, said one of the biggest lessons crypto users could take away from the collapse of Terra and other projects was learning to appreciate those that withstood the test of time.

03.11 / 00:49

business Mining SEC Bitmain Bitcoin mining firm Bitdeer could delay public offering till 2023

Bitdeer, a crypto mining firm spun off from China-based mining manufacturer Bitmain, may see its public offering on Nasdaq delayed a year depending on a vote from shareholders of Blue Safari Group Acquisition Corp.

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