Babel Finance lost $280 million of customer funds from unhedged trading. The amount includes 8,000 BTC. Babel is seeking a restructure through convertible debt that would see creditors become shareholders. Babel Finance, a financial services firm for cryptocurrencies, recently reported a staggering loss of its customers’ funds totalling over $280 million, according to a report from The Block citing a…
Bitcoin (BTC) may already be beginning its new macro uptrend if historical “hodl” habits repeat. That was the conclusion from research into the latest data covering the amount of the BTC supply dormant for one year or more as of July 2022. Hodled BTC hints that the bear market is over According to independent analyst Miles Johal, who uploaded the…
ASIC manufacturer Canaan is set to launch bitcoin mining operations in the U.S. The company recently started self-mining in Kazakhstan where it has deployed over 10,000 miners.Ending Q1 2022, the company earned $213 million in revenue and held almost 167 BTC, valued close to $4 million at press time. Canaan, a global leader in bitcoin mining rig manufacturing based in…
Ethereum’s proof-of-work (PoW) powered by GPUs generated approximately $19 billion in revenue last year for ETH miners. But these revenue streams are in danger as Ethereum is expected to become a proof-of-stake (PoS) blockchain via “the Merge” upgrade in September. Miners could then revolt against the new upgrade by continuing to mine on the old Ethereum PoW after the hard fork chain split. …
The cryptocurrency market is no stranger to speculation. Consider that despite this industry’s growth, many continue to view these assets and associated technologies as a bubble that is about to burst. As history has proven, overcoming the technology adoption curve comes down to a major use case, or the so-called “killer app.” Although there is no clear frontrunner, the adult…
Schwab Asset Management, the asset management arm of financial giant Charles Schwab, has launched an exchange-traded fund (ETF) with exposure to firms linked to cryptocurrencies. In a Friday announcement, Schwab said its Crypto Thematic ETF was expected to be available for trading on the New York Stock Exchange’s Arca under the ticker STCE on Aug. 4. The fund tracks Schwab’s…
The past six-odd months have been nothing short of a financial soap opera for the cryptocurrency market, with more drama seemingly unfolding every other day. To this point, since the start of May, a growing number of major crypto entities have been tumbling like dominoes, with the trend likely to continue in the near term. The contagion, for the lack…
Santander Brazil will begin offering services for bitcoin and other cryptocurrencies in coming months.The CEO said the bank will release more details by or before its next quarterly results report.The bank’s consideration of these new services is not directly influenced by competitor interest in the space, the CEO said. Santander Brazil, the third-largest private bank in the country, is preparing…
Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s letter explains that Voyager’s FDIC claims are false and misleading, and the entity prohibits anyone from “representing or…
Bitcoin meetups have been around for years, but now there are companies helping Bitcoiners to meet and even find love “IRL.” Source: https://cointelegraph.com/news/new-social-apps-want-to-help-bitcoiners-connect-in-real-life
