Business Financial News
28.10 / 12:23
28.10 / 08:15
business
Court
Bankruptcy
Celsius bankruptcy
Celsius bankruptcy case Trustee slams $3M employee bonus motion
The U.S. Trustee overseeing the Celsius chapter 11 bankruptcy case, William Harrington, has objected to a Celsius motion that would see 62 of its 275 employees paid a retention bonus totaling $2.96 million.
28.10 / 08:15
28.10 / 06:21
business
Binance
Google
Scams
crypto phishing
Google still promoting crypto phishing sites warns Binance boss
Binance CEO Changpeng Zhao (CZ) has warned that Google search results are still promoting crypto phishing and scamming websites.
28.10 / 06:21
business
Twitter
Takeover
elon
Twitter’s top brass gutted as Elon Musk’s takeover begins
Elon Musk reportedly finalized his $44 billion takeover of social media platform Twitter on Oct. 27 and has started his tenure at the company by cleaning house at the upper executive level.
28.10 / 05:15
business
CFTC
SEC
Pensions
Financial
CFTC commissioner compares crypto contagion risk to 2008 financial crisis
Commodity Futures Trading Commission’s (CFTC) Christy Goldsmith Romero has pointed to the collapse of the Terra ecosystem and its flow-on effects as an example of how contagion risks within crypto markets are similar to those experienced by the traditional financial (TradFi) system during the global financial crisis (GFC) of 2008.
28.10 / 01:05
business
Blockchain
Funding
Usd Coin
Solana-based protocol seeking to decentralize ride-sharing raises $9M
The ride-sharing industry is poised for another paradigm shift with Web3 protocols, allowing new companies and drivers to bid for rides using a matching algorithm, according to the Decentralized Engineering Cooperation (DEC) — the company behind the Solana-based protocol TRIP that enables mobility-based applications.
28.10 / 00:27
business
Blockchain
Adoption
Polygon
Cross-Chain
Axelar partners with Polygon to deliver cross-chain communication to Polygon Supernets
Cross-chain platform Axelar has announced a partnership with Polygon to deliver secure cross-chain communications to Polygon Supernets. The company said that Axelar’s partnership with Polygon will serve as infrastructure for an interoperable internet of dedicated Ethereum Virtual Machine (EVM) blockchains powered by Polygon Edge.
28.10 / 00:21
business
VISA
credit cards
patents
Visa's trademark applications suggest more involvement in crypto space
Major credit card company Visa may be planning to explore digital wallet services based on two recent trademark applications.
28.10 / 00:07
business
Blockchain
Technology
defi
audit
Team Finance exploited for $14.5M during protocol migration despite contract audit
On Oct. 27, decentralized finance (DeFi) lockup protocol Team Finance said that over $14.5 million worth of tokens were exploited through the Uniswap v2 to v3 migration function on its platform. As told by blockchain security firm PeckShield, the hacker transferred liquidity from Uniswap v2 assets on Team Finance to an attacker-controlled v3 pair with skewed pricing. By locking tokens to the contract, the attacker bypassed existing validation mechanisms and pocketed the huge leftovers as a refund for profit.
27.10 / 21:41
business
Developers
Funding
Venture Capital
Support
Celo ecosystem projects raise $77.3M in support of interoperability, ReFi
Projects building on the Celo blockchain have collectively raised $77.3 million in support of various business initiatives, underscoring the growing adoption of the payments-focused developer network.
27.10 / 19:43
business
Bitcoin Price
end
Financial
Core Scientific reveals financial distress in SEC filing, says its end may be near
Bitcoin miner Core Scientific filed forms with the United States Securities and Exchange Commission (SEC) on Oct. 26 indicating that will not make payments due in late October and early November. The company blamed low Bitcoin prices, increased electricity costs, an increase in the global Bitcoin hash rate and litigation with the bankrupt crypto lender Celsius for the situation.
27.10 / 11:35
business
Adoption
Crypto investment firm Q9 gets provisional approval to operate in Dubai
A Hong Kong-headquartered crypto investment platform, Q9 Capital, received provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA). The company announced its expansion to the UAE and applied for a full operating license as well.
27.10 / 10:01
business
regulation
Bankruptcy
Terra Luna
DeFi Pioneer Echoes SBF in Call for Tighter Crypto Regulations
Respected former decentralized finance (DeFi) project founder and developer Andre Cronje has resurfaced after a lengthy hiatus to call for tighter regulations on the crypto sector amid the implosion of multiple firms this year.
27.10 / 08:19
business
partnerships
identity
KYC
Equifax—known for huge data breach—is building a Web3 KYC solution
Credit reporting company Equifax, known for suffering from one of the largest customer data breaches to date, has partnered with blockchain company Oasis Labs to build a Know Your Customer (KYC) solution.
27.10 / 07:37
business
Blockchain
Lightning Network
Bitcoin
network
Asset management firm launches BTC Lightning Network startup accelerator
Asset management firm Stone Ridge, the parent company of Bitcoin company NYDIG, has launched the first startup accelerator that focuses on the Bitcoin Lightning Network and the Taro protocol, called In Wolf’s Clothing (Wolf).
27.10 / 07:37
business
BitMEX
Bitcoin
Hong Kong could be key for China’s crypto comeback: Arthur Hayes
Arthur Hayes, the former CEO of crypto derivatives giant BitMEX, believes the next crypto bull run will start when China moves back into the market, and Hong Kong has a vital part to play in this process.
27.10 / 05:39
business
Facebook
Metaverse
Metaverse losses top $3.6B for Meta with spending set to increase
Big Five technology player Meta is still burning cash through its Metaverse research and development arm Reality Labs with a $3.67 billion loss posted for the third quarter of 2022, stating those losses will further deepen next year.
27.10 / 05:07
business
Adoption
VISA
MasterCard
Blockchain.com partners with Visa to offer crypto debit card
Crypto exchange Blockchain.com has partnered with Visa to launch a crypto card, available to only U.S. residents initially, which allows users to pay using their crypto or cash balance wherever Visa debit cards are accepted.
27.10 / 00:05
business
regulation
DAO
SushiSwap to create three DAOs in Panama and Cayman in business restructuring
The Sushi DAO, a decentralized autonomous organization behind crypto exchange SushiSwap, has approved a legal restructuring on Oct. 26 that creates three new decentralized entities, aiming to provide more flexibility to its operations.
26.10 / 20:19
business
Blockchain
Environment
Bitcoin
Report: Vast majority of blockchain energy studies 'lack scientific rigor'
According to a new preprint conducted by researchers at the Open Universiteit, University of California Berkley, and Radboud University, the vast majority of literature on blockchain energy use from both academic and everyday sources "lacks the scientific rigor expected from a mature scientific field." The report analyzed 128 scientific and open-source studies related to carbon emissions of blockchains such as Bitcoin.
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