Business Financial News

11.07 / 09:41

business NFT Sport partnership Deal Sports sponsorships sealed amid market turmoil as Man City inks deal with OKX

Crypto exchange OKX has announced that it has made a deal with English Premier League (EPL) champions Manchester City to become the team’s training kit sponsor for the 2022-23 season.

11.07 / 09:41

business Law defi Bankruptcy Celsius changes legal team, pays off $20M in Aave debts

Crypto lending platform Celsius has reportedly hired lawyers from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that assisted Voyager Digital with its bankruptcy filing last week.

11.07 / 06:23

business Liquidity Funding recovery Withdrawals open CoinFLEX to begin arbitration for $84 million recovery and open limited withdrawals

Crypto investment platform CoinFLEX is moving forward with its plan to reclaim $84 million in funds by starting arbitration procedures in Hong Kong against an individual account holder.

11.07 / 06:23

business Twitter Lawyers Deal Twitter lawyers up to force through Musk deal. Will it work?

Social media platform Twitter is reportedly looking to file a lawsuit as early as this week against Telsa CEO Elon Musk after he announced his intention to pull out of the $44 billion deal to acquire the social media giant on July 8.

10.07 / 17:31

business Blockchain Technology Adoption AI will help realize the true vision the Metaverse hopes to achieve

The metaverse space is moving rapidly in terms of hype and the volume of new projects being launched — so much so that the industry market size is projected to grow from $100.27 billion in 2022 to $1,527.55 billion by 2029. But how many of these new projects are even remotely capable of realizing the actual vision set out?

10.07 / 07:27

business Loans Bankruptcy Lost Investors lament potentially lost ‘millions’ on Voyager bankruptcy

Many Investors are reeling from Voyager Digital’s recent bankruptcy filing, with some claiming to have either ‘millions’ worth of crypto assets or most of their life savings locked on the crypto exchange.

09.07 / 20:03

business Payments Funding Venture Capital VC Roundup: ‘Web5,’ Metaverse sports and Bitcoin monetization startups generate buzz

A lot has happened in the Bitcoin (BTC) and cryptocurrency markets since our last edition of VC Roundup. The monumental collapse of the Terra ecosystem spilled over into other segments of the digital asset market, exposing over-leveraged traders, lending platforms and venture capital funds. In the process, Bitcoin’s price plumbed new lows, falling below the previous cycle’s peak for the first time in its history.

09.07 / 13:07

business Blockchain Adoption Bitcoin Global GPU price drops to compensate for falling Bitcoin mining revenue

As a direct result of falling Bitcoin (BTC) prices, total revenue earned by miners in transaction fees and mining rewards dropped to its one-year lows at nearly $15 million on July 4. However, a concurrent fall in graphic cards or GPU prices is set to help miners offset their operational costs amid an ongoing bear market.

09.07 / 09:21

business Adoption Binance fees Support Binance users support 0-fee trading despite CZ's wash trading concerns

Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng “CZ” Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur.

09.07 / 01:55

business Twitter Adoption Social Media Takeover elon BREAKING: Elon Musk wants to terminate the $44B Twitter takeover

In an unexpected turn of events, Tesla CEO Elon Musk announced his intention to end the $44 billion Twitter deal via a letter sent to the board of the social media giant.

08.07 / 21:47

business Bankruptcy VC funding Bitcoin Miner Broker Crypto Biz: Crypto broker goes bankrupt, Bitcoin miner capitulates and China VC funding soars

Those of us anxiously awaiting a summer relief rally for Bitcoin (BTC) may have to wait a little while longer. The bear market is still cleansing us of our excess — and revealing the most toxic players in our industry. I’ve talked to you about Terra, Celsius, Three Arrows Capital, BlockFi— what about Voyager Digital? The crypto broker filed for Chapter 11 bankruptcy this week, putting hundreds of thousands of creditors on high alert.

08.07 / 21:47

business Blockchain Adoption Former head of TikTok gaming leaves Web2 to build core Web3 protocol

Cointelegraph had the opportunity to chat with Jason Fung, former head of gaming at TikTok, about his new company Meta0, why he decided to make the leap into Web3 and what he feels the future has in store for him.

08.07 / 20:17

business Stablecoin Tether Loans Tether liquidates Celsius position with ‘no losses’ to stablecoin issuer

Tether’s Bitcoin (BTC)-denominated loan to Celsius Network has been fully liquidated without a loss, easing concerns that the stablecoin issuer may have oversized exposure to the embattled crypto lender.

08.07 / 16:53

business Mining Bitcoin Compass Mining retrenches 15% of staff, execs to take major pay-cuts

Ongoing strife in the cryptocurrency space has forced Compass Mining to lay off 15% of its employees while top executives and staff take major pay-cuts.

08.07 / 15:11

business Adoption defi Investments Fairfax County highlights the value in the 'short-term nature' of yield farming

Virginia’s Fairfax County continues to be a prominent public institutional investor in the cryptocurrency space and is set to diversify its portfolio with a move into yield farming.

08.07 / 14:35

business Binance Central Bank Bank of Spain Binance gets crucial license for its Spanish subsidiary from the Bank of Spain

Crypto exchange Binance has been registered as a virtual asset service provider (VASP) by the Bank of Spain. This allows the exchange to offer custody and crypto exchange services in the country legally.

08.07 / 14:35

business Stablecoin coinbase Usd Coin USDC stablecoin EU-regulated firm Banking Circle adopts USDC stablecoin

Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails.

08.07 / 06:55

business Mining Mining Pools Marathon Bitcoin production Marathon Q2 Bitcoin production down 44% as fleet remains crippled

Bitcoin (BTC) mining company Marathon Digital Holdings experienced a steep 43.8% decline in Bitcoin production over the second quarter of 2022, with June registering as the company’s least productive month in over a year following the fall of its Montana facility.

08.07 / 06:55

business Blockchain Law Bombshell allegations of fraud as KeyFi takes Celsius to court

Staking software and investment firm KeyFi Inc. has filed a complaint against beleaguered crypto-lending firm Celsius, alleging the company had been operating in a “Ponzi” style fashion and that it failed to honor a profit-sharing agreement “worth millions of dollars.”

08.07 / 02:01

business Blockchain Gaming Sky Mavis VC firm Konvoy launches new $150M fund, eyes blockchain-based games

Venture capital firm Konvoy Ventures is set to fork out at least $30 million to back various cryptocurrency and blockchain-based games.

08.07 / 00:57

business UPS Digital Bankruptcy FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light

Some Voyager Digital account holders were surprised when they discovered that their deposits did not have the protection they thought they did after the crypto brokerage and lender filed for bankruptcy Tuesday. This could mean additional consequences for Voyager Digital.

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