Bitcoin Miner Core Scientific Files for Chapter 11 Bankruptcy
- Core Scientific’s bankruptcy filing revealed the company had between $1 billion and $10 billion in assets, and the same amount in liabilities.
- The company is one of the largest Bitcoin miners in the world, and is responsible for around 10% of the computing power on the Bitcoin network through its 243,000 machines.
December 21, 2022, 11:17 AM
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5 Things You Didn’t Realize You Can Buy with Crypto
- With the rise of Bitcoin and other digital currencies, more and more people are using crypto to buy high-end luxury items such as watches and designer clothing.
- As the world of online commerce continues to evolve, it’s likely that we will see even more businesses accepting crypto as payment in the near future.
December 21, 2022, 9:44 AM
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Nigeria Proposes Bill to Recognize Crypto as Investment Capital
- Nigeria’s Investments and Securities Act 2007 (Amendment) Bill is looking to recognize the usage of Bitcoin and crypto in the country.
- The bill was proposed almost two years after the Central Bank of Nigeria abandoned its plans to regulate digital assets, and banned institutions from facilitating crypto transactions.
December 19, 2022, 1:30 PM
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Binance.US Removes Trading Fees for ETH
- Binance’s U.S. arm has expanded its zero-fee program to spot trading for four ETH trading pairs, including ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD.
- Auditing firm Mazars has also confirmed that Binance had control over 575,742.42 BTC, making its reserves 101% collateralized.
December 7, 2022, 5:06 PM
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Nov 25, 2022
Binance Launches Merkle Tree-Based Proof-of-Reserves System
- Binance’s new proof-of-reserve system shows it has Bitcoin (BTC) balance of 582,485 tokens, while users have a net balance of 575,742 BTC.
- The exchange also plans to involve a third-party auditor to verify its PoR system, as well as implement ZK-SNARKs to improve privacy.
Nov 23, 2022
Mining Giant Core Scientific to Deplete Cash Resources by End of 2022
- Bitcoin miner Core Scientific said in a SEC filing that it would require additional liquidity in order to continue operations past November 2023.
- The company, however, expressed doubts in its ability to raise funds through financing or capital markets due to “uncertainties and current market conditions”.
Nov 2, 2022
Deribit Pauses Withdrawals Following $28M Hot Wallet Hack
- The hack took place around midnight on 1 November, when a malicious actor was able to access Deribit’s hot wallets and steal $28 million worth of BTC, ETH, and USDC.
- The company noted that client assets were safe, as they were kept in cold storage, and that the loss will be covered by its own reserves.
Oct 20, 2022
Online Bank N26 Launches Crypto Trading With Bitpanda Partnership
- German digital bank N26 will use Bitpanda’s White Label solution to allow select clients to buy and sell close to 200 crypto assets.
- The service will initially be available only to Austrian customers, but N26 plans to expand its reach to other key markets over the next six months.
Sep 27, 2022
Galaxy Digital to Provide Crypto Price Data Through Chainlink
- Partnering with Chainlink will allow Galaxy Digital to distribute its crypto pricing data to various blockchains, and help developers build better applications.
- The company noted that its high-quality pricing data will play a valuable role in “unlocking exciting new use cases and driving innovation across the DeFi ecosystem.
Sep 20, 2022
Nasdaq to Launch Crypto Custody for Institutional Clients
- Stock market operator Nasdaq has formed a new digital asset division, which will develop and launch a digital asset custody services to institutional clients.
- The move is in line with Nasdaq’s mission to be a service provider in the crypto space, rather than facilitate trading of cryptocurrencies.