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.
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.
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.
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”.
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.
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.
Michael Novogratz, CEO of Galaxy Digital Adam Jeffery/CNBC
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.
NASDAQ MarketSite location at Times Square, New York, September 9, 2016. andersphoto/Shutterstock