Crypto miner Core Scientific sold roughly $165 million worth of Bitcoin last month, as inflation and market turmoil piled on the pressure for public crypto companies. The NASDAQ-listed firm sold 7,202 Bitcoin during June at an average price of $23,000, leaving it with just 1,959 Bitcoin, bosses told investors yesterday. As of June 30, the company had $132 million in…
“Bitcoin for Africa, by Africans” was the key theme at the Qala Bitcoin developer offsite event held earlier this month in Lagos, Nigeria. And that theme, as well as the event itself, spoke to one of the continent’s greatest opportunities today, as well as Qala’s larger mission and how it is finding success already. Growing Opportunity Among Pervasive Challenge It’s…
Bitcoin (BTC) approached the July 6 Wall Street open near $20,000 as a fresh battle between support and resistance loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Whale levels close by Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wedged in a tight trading range with liquidity creeping closer to spot on the day. After recovering 6% losses from…
Fairfax County continues its cryptocurrency investment endeavors through VanEck crypto lending fund, exploring the world of yield farming through the asset manager. Source: https://cointelegraph.com/news/virginia-county-fairfax-commits-35m-to-van-eck-crypto-lending-fund
In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity. India’s Worsening Trade Deficit Faced with a rising trade deficit…
Voyager Digital has become the second high-profile crypto firm to file for bankruptcy in recent days, joining the Singapore-based Three Arrows Capital (3AC) in doing so. The New York-based firm and its two affiliates, Voyager Digital LLC and Voyager Digital Holdings, took the step in the Southern District of New York late on Tuesday, according to a filing. Per the…
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other transactions for customers, has been…
Days after pausing trading, withdrawals and deposits, crypto exchange Voyager Digital is filing for bankruptcy under Chapter 11 in the Southern District Court of New York. Voyager’s Chapter 11 bankruptcy filing indicated that it is on the hook for anywhere from $1 billion to $10 billion in assets to more than 100,000 creditors. The troubled crypto exchange wasted no time…
A subsidiary of the Huobi cryptocurrency exchange called HBIT Inc has received its Money Services Business (MSB) license from the United States Financial Crimes Enforcement Network (FinCEN). The Seychelles based Huobi said on July 5 that the license creates a foundation for it to carry out crypto-related business in the U.S. in the future, as part of its strategic goals…
Despite some touting crypto as a hedge against traditional markets, digital assets today share a similar risk profile to commodities such as oil and gas, and tech and pharmaceutical stocks, according to analysis from Coinbase’s chief economist. The observation comes from a blog post from Coinbase chief economist Cesare Fracassi on July 6, noting that the “correlation between the stock…
