Business Financial News

12.08 / 14:49

business regulation coinbase S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures

Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year.

12.08 / 11:35

business Blockchain Binance defi Binance recovers the majority of funds stolen from Curve Finance

Crypto exchange Binance has recovered a big part of the funds from the recent hack that targeted the decentralized finance (DeFi) protocol Curve Finance.

12.08 / 09:11

business coinbase Proof-of-stake Decentralized Finance Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO

Institutional staking of crypto assets, including the post-Merge Ethereum, could become a “phenomenon” in the future, but not while their assets still need to be “locked up.”

12.08 / 07:35

business Mining Bitcoin BTC Mining BTC mining stocks double in a month as production ramps

Crypto mining companies have seen their stock prices increase as much as 120% over the last month, amid rebounding crypto asset prices, higher mining profitability, and sharp increases in BTC production.

12.08 / 00:37

business defi Venture Capital Loans Maven 11 launches $30M lending pool on Maple as borrowers turn to DeFi

Netherlands-based crypto investment firm Maven 11 has launched its third lending pool on Maple Finance, giving borrowers access to liquidity amid the bear market.

11.08 / 00:29

business Adoption Investments Venture Capital Financial Wealth managers and VCs are helping drive institutional crypto adoption — Wave Financial execs

Two executives at Wave Financial, an asset management firm providing bespoke strategies to high-net-worth individuals and entities, have reported seeing increased institutional demand for crypto products amid the bear market.

11.08 / 00:29

business Blockchain regulation Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

It's a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada's then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before his passing, Cotten took virtual keys for digital wallets and moved them into cold storage, leading to the permanent loss of $190 million in user funds.

10.08 / 19:01

business Blockchain Binance Binance optimistic on Philippines entry despite SEC pushback

Despite the Philippine Securities and Exchanges Commission warning the public against investing with Binance, the crypto exchange stays positive and relentless in bringing its services to the Southeast Asian country.

10.08 / 14:09

business Law regulation California California regulator orders Celsius to stop selling securities in the state

The Department of Financial Protection and Innovation of California (DFPI) continues to bring actions against crypto interest account providers, failing to comply with the local law. After commanding BlockFi and Voyager to stop their offerings in the state, the DFPI issued a desist and refrain order to crypto lending firm Celsius.

10.08 / 06:45

business coinbase stocks Coinbase posts $1.1B loss in Q2 on 'fast and furious' crypto downturn

Crypto exchange giant Coinbase has cited a "fast and furious" downturn of the crypto markets as the reasons behind a staggering $1.1 billion net loss in the second quarter of 2022, which also saw trading volume and transaction revenue tumbling.

10.08 / 06:45

business Ethereum Stablecoin Tether Tether also confirms its throwing weight behind the post-Merge Ethereum

Hot on the heels of an official announcement from USD Coin (USDC) issuer Circle Pay, stablecoin giant Tether has now also officially confirmed its support behind Ethereum’s upcoming Merge upgrade and switch to a Proof-of-Stake (PoS) consensus mechanism-based blockchain.

10.08 / 04:31

business Banks banking German crypto bank Nuri with 500K users files for insolvency

Nuri, a German start-up crypto bank with 500,000 customers filed for insolvency on Aug. 9, citing major crypto sell-offs, insolvency of Celsius and other crypto funds earlier this year as a reason for the move.

09.08 / 23:31

business Blockchain regulation privacy Anonymous user sends ETH from Tornado Cash to prominent figures following sanctions

On Tuesday, one day after the U.S. Treasury sanctioned cryptocurrency mixer Tornado Cash for its alleged role in cryptocurrency money laundering operations, intervals of 0.1 Ether (ETH) transactions began materializing from the smart contract to prominent figures such as Coinbase CEO Brian Armstrong and American television host Jimmy Fallon. It is not possible to trace the source of the transactions per Tornado Cash design, and as a result, either one individual or multiple individuals or entities could be involved in the operation.

09.08 / 21:53

business Ethereum Bitcoin NOT Selling Bitcoin doesn’t mean you’re not bullish: Cypherpunk CEO

Despite a massive wave of liquidations on the cryptocurrency market, some companies that sold their crypto over the past few months are not bearish on Bitcoin (BTC) at all.

09.08 / 20:25

business Blockchain Ethereum Reddit gas fees Reddit partners with FTX to enable ETH gas fees for community points

After moving away from Bitcoin (BTC) payments years ago, online forum Reddit now seems to be inching closer to embracing cryptocurrency payments via a new partnership with the FTX exchange.

09.08 / 18:43

business Blockchain Technology Adoption Blockchain and NFTs are changing the publishing industry

Web3 has become the most sought-after investment sector of 2022, as use cases for nonfungible tokens (NFTs), the Metaverse and other blockchain applications come to fruition. Therefore, it shouldn’t come as a surprise that different segments of the publishing industry have begun to use Web3 technologies to transform traditional models.

09.08 / 17:01

business Blockchain avalanche Pinterest for Web3: Project launches curation ecosystem on Avalanche

With play-to-earn (P2E) gaming rising in 2021 through Axie Infinity (AXS) and an offshoot called move-to-earn (M2E) gaining fame through STEPN (GMT), another variation of the “to-earn” model launches in an attempt to bring Web3 elements to existing Web2 frameworks.

09.08 / 12:52

business event Blockchain Adoption Sky Mavis week Korea Blockchain Week, Aug. 9: Second-day takeaways from the Cointelegraph team

Korea Blockchain Week (KBW) 2022 wrapped up its two-day mainstage events this evening, which again saw a number of influential speakers take to the podium including Janine Yorio of Everyrealm, Yat Siu of Animoca Brands and Sky Mavis’ Jeffrey Zirlin.

09.08 / 12:37

business Ethereum jp morgan Bitcoin Crypto markets have hit the floor, says JP Morgan

Anticipation over the Merge, a much-awaited upgrade to the Ethereum (ETH) network, is the main driver behind a rally in cryptocurrencies over the last few weeks, financial services firm JP Morgan said, and claimed the market had hit the floor despite subdued trading volumes.

09.08 / 09:05

business Blockchain Sky Mavis Axie Infinity looking to 'double-down' on Korean market: KBW

Sky Mavis, the firm behind Play-to-Earn (P2E) heavyweight Axie Infinity is looking to “double down” in South Korea and ramp up adoption despite the regulatory hurdles.

09.08 / 05:21

business Blockchain Developers Software 20M JavaScript devs can now build applications on NEAR: KBW 2022

20 million JavaScript developers will now have the ability to write blockchain smart contracts and build applications on the NEAR Protocol, after rolling out JavaScript Software Development Kits (JS SDKs) on Monday.

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