Business Financial News

20.08 / 08:39

business Adoption Binance regulation Binance vs. FTX: CZ calls out ‘bad players’ for crypto exchange jitters

The CEO of crypto exchange Binance, Changpeng ‘CZ’ Zhao, raised concern for traders after learning about the infamous phenomenon of trade jitters on other crypto exchanges.

19.08 / 21:17

business Web3 Funding Venture Capital Crypto Biz: Crypto VC is back with a vengeance

You’ve no doubt heard the expression, follow the money. Well, if you do that in the venture capital world, you’ll be led directly to crypto, blockchain and digital assets. After a modest summertime lull in venture financing, this week saw the announcement of two massive raises worth a combined $500 million. That’s $500 million VCs are allocating to crypto-focused startups at the intersection of Web3, blockchain infrastructure and decentralized communities.

19.08 / 20:03

business Stablecoin Tether Report Holdings Independent Tether attestation reveals 58% decrease in commercial paper holdings

An announcement from USDT issuer Tether Holdings Limited revealed information from an independent attestation about the company’s previous quarter's performance. The reviewer, top accounting firm BDO Italia, assessed Tether’s assets as of June 30, 2022.

19.08 / 16:57

business Blockchain Stablecoin regulation Huobi explains what went wrong with HUSD after stablecoin is back on track

After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved.

19.08 / 15:51

business Bitcoin Lost SBI lost 40% of hash rate after stopping mining in Russia: Data

Japanese financial giant SBI Holdings has partly terminated cryptocurrency mining in Russia due to geopolitical uncertainty and the crypto winter.

19.08 / 14:23

business exchanges Bitcoin Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answers

One of the most substantial value propositions of Bitcoin (BTC) is that no one can create more of it apart from its fixed supply. However, an executive from a crypto exchange made a bold claim that some exchanges can create and sell BTC that's only in their system, not on the blockchain, to manipulate the market.

19.08 / 10:13

business Swyftx Aussie exchange Swyftx cuts staff by 21% amid bear market

Australian crypto exchange Swyftx has had to lay off 21% of its staff to lower costs as it wades through the current bear market.

19.08 / 09:43

business Blockchain Investments MMORPG went into ‘hiatus’ after crypto investors bailed, denies it misused funds

Phat Loop Studios, the company under fire last week for abandoning its Kickstarter and crypto-funded MMORPG game Untamed Isles, is now denying accusations that they lost their backers' funds investing in crypto.

19.08 / 09:25

business regulation lending Bankruptcy US Trustee motions for examiner to probe Celsius’ ‘significant transparency issues’

The United States Trustee handling Celsius’ bankruptcy proceedings has called for an independent examiner to be brought in to “untangle” the embattled network’s financial affairs and business operations.

19.08 / 09:21

business Adoption XRP Ripple partners with Travelex to launch enterprise crypto payment service in Brazil

Ripple’s XRP token is set to be used to facilitate fast and cost-effective cross-border transactions in Brazil, after the launch of RippleNet's On-Demand Liquidity (ODL) with forex company Travelex.

19.08 / 06:53

business Blockchain Blockchain Game Fortnite developer supports Animoca subsidiary's blockchain racing game

Australian indie game developer Grease Monkey Games, a subsidiary of Animoca Brands, has received received financial support from video-game giant Epic Games to develop a new blockchain-based motorsport game Torque Drift 2

19.08 / 06:09

business Blockchain Investments stocks Robinhood lands steep 60% discount on $170M exchange acquisition: Report

Stock and crypto investment platform Robinhood has reportedly scored a 58% cut on its $170 million offer to buy crypto exchange Ziglu due to adverse market conditions.

18.08 / 19:51

business Investments CME CME Group plans to launch options on ETH futures prior to the Merge

Major derivatives marketplace Chicago Mercantile Exchange Group intends to launch options trading for its Ether (ETH) futures products.

18.08 / 16:07

business Ban Bitcoin Chinese mining giant Canaan doubles profits despite the blanket crypto ban

Major Chinese cryptocurrency miner manufacturer Canaan appears to have no issues with the local ban on crypto, as the company’s overall performance has continued to grow in 2022.

18.08 / 15:07

business Stablecoin Tether Dollar accounting Reserve Tether reserve attestations to be conducted by major European accounting firm

In a step toward greater transparency and better alignment with international accounting standards, stablecoin operator Tether Holdings Limited has tapped BDO Italia to conduct regular reviews and attestations of its dollar reserves.

18.08 / 09:31

business Payments Bitcoin Payments Aussies buy fuel and chips with crypto across 175 fuel outlets

Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Thursday.

18.08 / 09:31

business Adoption advertisement ad Crypto ad spending may be down, but awareness remains critical: Experts

Crypto television advertising spending has reportedly fallen off a cliff in the United States, reflecting the current state of the markets. However, that’s no excuse to take a break, two crypto firms tell Cointelegraph.

18.08 / 06:43

business Government regulation Ontario crypto exchanges impose $30K annual limit on altcoin buys

Canada-based crypto exchanges Bitbuy and Newton are enforcing a $30,000 (CAD) annual “buy limit” for "restricted coins" for their users based in Ontario in order to “protect consumers” amid tightened regulations.

18.08 / 01:05

business Energy Consumption 'There's a lot less land to go around' — why White Rock established off-the-grid mining in Texas

Amid many cryptocurrency mining firms in Texas scaling down operations to reduce the load on the power grid, at least one company set up miners not quite as affected by the state’s energy requirements during extreme heat.

18.08 / 00:15

business Blockchain pension Quebec Pension Fund loses almost entirety of its Celsius investment in less than ten months

According to local news outlet LaPresse on Wednesday, the Caisse de dépôt et placement du Québec (CDPQ), an institutional investor chartered with managing retirement assets in Canada's predominantly French-speaking province of Quebec, wrote off almost the entirety of its CA$200 million ($154.7 million) investment in troubled cryptocurrency lender Celsius Network.

17.08 / 21:03

business Blockchain Investments Study: Insider trading occurs in 10% to 25% of cryptocurrency listings

According to a recent study conducted by the University of Technology Sydney, researchers estimated that insider trading occurs in 10% to 25% of cryptocurrency listings.

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