Business Financial News

17.08 / 20:25

business Volatility Genesis Trading Another crypto CEO steps down as Genesis Trading restructures leadership

Michael Moro, CEO of Digital Currency Group’s market maker and lending subsidiary Genesis Trading, has become the latest executive to step down from a leadership role at a crypto company amid the market downturn.

17.08 / 17:15

business Web3 Funding Venture Capital Blockchain VC Shima Capital debuts with $200M Web3 fund

Shima Capital, a new venture firm focused on early-stage blockchain projects, has launched its debut fund to support emerging digital asset companies — and has received considerable backing in doing so.

17.08 / 17:03

business Binance Digital Currency Withdrawals Binance assures users after 3rd-party glitch briefly halted withdrawals

Cryptocurrency exchange Binance announced a temporary freeze on withdrawals on Wednesday morning. The suspension took place across multiple networks as a result of a technical issue by a third-party provider, according to Binance.

17.08 / 16:03

business regulation Terraform Labs Terra Lawyers Do Kwon reportedly hires lawyers in S.Korea to prepare for Terra investigation

Terraform Labs co-founder Do Kwon has reportedly hired a lawyer from a domestic law firm in South Korea just days after claiming the South Korean authorities are yet to reach out to him or file any charges against him.

17.08 / 15:25

business inflation Time UK hits double-digit inflation for the first time in 40 years

The inflation rate in the United Kingdom reached 10.1%, according to the Office for National Statistics (ONS). The Consumer Prices Index (CPI) rose by 10.1% in the 12 months to July 2022. It's a significant leap from 9.4% in June.

17.08 / 15:25

business Web3 Funding Venture Capital CoinFund launches $300M early-stage Web3 venture fund

Blockchain venture firm CoinFund has launched a new investment fund devoted to Web3 and other crypto-focused startups, opening the door to fresh funding opportunities for entrepreneurs during the bear market.

17.08 / 14:59

business Mining Bitcoin Returns Troubled miner returns 26,000 rigs to eliminate debt

The United States-based Bitcoin mining company, Stronghold Digital Mining (SDIG), announced on Tuesday new moves to elevate outstanding debt and restructure its financial operations.

17.08 / 11:37

business Court Bitcoin For greater good: NY judge allows Celsius to mine, sell Bitcoin

Not even 24 hours after revealing a three-month cash flow forecast that threatens total exhaustion of funds, a New York judge allowed crypto lender Celsius Network to mine and sell Bitcoin (BTC) during its bankruptcy.

17.08 / 09:11

business stocks shares Bitcoin Price exit Experts explain what 'Big Short' Michael Burry's stock exit means for crypto

Michael Burry, the investor who famously shorted the 2008 housing bubble, has dumped nearly all the stocks in his portfolio during Q2, suggesting there may be carnage ahead for stock and crypto markets.

17.08 / 06:37

business regulation Bitcoin Crypto.com secures UK registration for 'cryptoasset activities’

Digital asset exchange Crypto.com has just been given the green-light for “certain cryptoasset activities” in the United Kingdom, after receiving registration confirmation from the Financial Conduct Authority (FCA) on Tuesday.

17.08 / 04:31

business Sport partnership Houston Texans becomes first NFL team to sell game suite with crypto

National Football League (NFL) team Houston Texans has become the first organization in the league to sell single-game suites in exchange for crypto.

17.08 / 04:31

business Investments goldman sachs Bitcoin Former Goldman Sachs banker explains why Wall Street gets Bitcoin wrong

John Haar, a former asset manager at financial institution Goldman Sachs believes the lack of support from “legacy finance” for Bitcoin stems from a poor understanding of the cryptocurrency.

17.08 / 03:49

business Blockchain Investments Venture Capital Google invested a whopping $1.5B into blockchain companies since September

Google parent company Alphabet poured the most amount of capital into the blockchain industry compared to any other public company, investing $1.5 billion between Sep. 2021 and Jun. 2022, a new report shows.

16.08 / 23:35

business JPMorgan Platform Financial Services BlockFi tops the Inc. 5000 list with almost 250,000% revenue growth in three years

Inc. magazine has named BlockFi the fastest growing company in the United States in 2022. At the top of the magazine’s Inc. 5000 2022 list, it experienced 245,616% growth, a lead of more than 99,000% over the second-place company, a platform for hiring nurses. The median growth rate was 230% across all 5,000 entries.

16.08 / 22:53

business Trading Bankruptcy Celsius CEO personally directed crypto trades months before bankruptcy: Report

Celsius CEO Alex Mashinsky reportedly “took control” of trading strategy at the crypto lending firm amid January rumors the United States Federal Reserve planned to hike interest rates.

16.08 / 19:57

business coinbase ERC-20 Withdrawals Coinbase will 'briefly pause' ETH and ERC-20 token deposits and withdrawals during Ethereum Merge

United States-based cryptocurrency exchange Coinbase has announced it will be temporarily suspending certain token deposits and withdrawals when Ethereum’s core developers transition the blockchain to proof-of-stake, or PoS.

16.08 / 19:03

business Government regulation Huobi Global suspends derivative trading in New Zealand

Crypto exchange Huobi Global announced the suspension of derivatives trading in New Zealand. The statement from Huobi said the new restrictions against derivative offers are in light of compliance with local regulations.

16.08 / 17:53

business Blockchain Adoption education Organizations look toward multiparty computation to advance Web3

Protecting user data and private keys is crucial as Web3 advances. Yet, the number of hacks that have occurred within the Web3 space in 2022 alone has been monumental, proving that additional security measures, along with greater forms of decentralization, are still required.

16.08 / 14:47

business Technology Real Estate Newly built Miami residential tower becomes bridge between cryptocurrency and real estate

The cryptocurrency market is often recognized for its uncertainty; its underlying technologies represent a major disruption across industries, such as finance, gaming and supply chain. Consequently, asset prices rise and fall alongside changes in regulatory measures and new applications for the technology.

16.08 / 13:13

business Court Cash Bankruptcy Court filings reveal Celsius will run out of money by October

Embattled crypto lender Celsius Network is on track to run out of money by October, according to the firm’s latest Chapter 11 documents.

16.08 / 12:35

business Blockchain community Terra Usd Do Kwon breaking silence triggers responses from the community

As the Terra (LUNA) co-founder and CEO Do Kwon breaks his silence about the collapse of the algorithmic stablecoin Terra USD (UST) and LUNA, the community responded with various sentiments against the Terra executive.

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