Crypto exchange giant Coinbase has cited a “fast and furious” downturn of the crypto markets as the reasons behind a staggering $1.1 billion net loss in the second quarter of 2022, which also saw trading volume and transaction revenue tumbling. It’s the second consecutive quarter of loss for the crypto company and the largest loss since its listing on the…
Iran has placed its first official import order using cryptocurrency worth $10 million, according to a government official. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” the official added. Iran Uses Crypto to Place Import Order Iran placed its first official import order for $10 million worth…
Nuri, a German start-up crypto bank with 500,000 customers filed for insolvency on Aug. 9, citing major crypto sell-offs, insolvency of Celsius and other crypto funds earlier this year as a reason for the move. The crypto bank said the move will “ensure the safest path forward” for all its customers, but also stressed that the insolvency will not affect…
This is an opinion editorial by Dan Ashmore, financial analyst, journalist and contributor to Bitcoin Magazine. Europe Within financial and macroeconomic circles, it can sometimes feel like the USA is the only country in the world. Inflation data is accepted as the CPI reading in the U.S. The stock market is the S&P 500. The currency is the ever-dominant dollar.…
Facing a slump in cryptocurrency prices on one hand, and less revenue from user transactions on the other, Coinbase CEO Brian Armstrong said the company isn’t focused on turning a profit. It’s focused on staking. “Any given quarter it could be up or down,” he said of the crypto market on Coinbase’s most recent earnings call. “It’s important to distinguish…
On Tuesday, the bitcoin mining company Cleanspark announced it acquired a plug-in-ready bitcoin mining facility that is scalable to 86 megawatts (MW) of capacity. Presently, the newly opened site in Washington, Georgia, has 36 megawatts, which is expected to give Cleanspark’s hashrate a 38% boost this quarter. Publicly-Listed Bitcoin Miner Cleanspark Expands Operations in Georgia After Cleanspark Inc. (Nasdaq: CLSK)…
This is an opinion editorial by Mark Goodwin, director of print editorial at Bitcoin Magazine. I know it pains some of your laser eyes to even see the word Ethereum printed, and while I respect that to a degree, the lessons being learned by the extended alternative cryptocurrency space are too important to ignore. Water’s Warm Maximalism is perhaps one…
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Attacks targeting blockchain companies show no sign of slowing down. Decentralized trading platform Curve Finance confirmed reports that its website had suffered a frontend attack on Tuesday. “Don’t use the frontend yet. Investigating!” Curve Finance tweeted. Hackers apparently compromised a Curve website or domain name to redirect unwitting users or their transactions to a malicious destination. According to Web3 on-chain…
Attacks targeting blockchain companies show no sign of slowing down. Decentralized trading platform Curve Finance confirmed reports that its website had suffered a frontend attack on Tuesday. “Don’t use the frontend yet. Investigating!” Curve Finance tweeted. Hackers apparently compromised a Curve website or domain name to redirect unwitting users or their transactions to a malicious destination. According to Web3 on-chain…
