Publicly traded Bitcoin miner Core Scientific experienced another net loss on its Bitcoin holdings last month. The firm sold 1,975 coins at an average price of $22,000 per Bitcoin in July, netting it proceeds of $44 million, according to a company announcement on Friday. Meanwhile, only 1,221 coins were mined. This left just 1,205 Bitcoin and $83 million in cash…
Bitcoin company Coinkite has launched its newest hardware wallet, Tapsigner, in an attempt to facilitate cold-storage bitcoin self-custody. The product, which resembles a credit card more than traditional hardware wallets, comes at $40 and aims to serve as a more intuitive Bitcoin-signing device to onboard a wider range of people around the world onto more secure bitcoin self-custody setups. Challenges…
Last week, Democrats unveiled climate and health care legislation called the “Inflation Reduction Act,” and there’s a lot of debate over the name of the proposed public policy measures. After the legislation was revealed, 230 economists sent a letter to the country’s House and Senate leaders warning that the proposed policies will actually fuel inflation. The letter stresses that there…
Crypto lender Voyager Digital Holdings has reported users may be able to make cash withdrawals from the app more than a month after suspending trading, deposits, withdrawals and loyalty rewards. In a Friday blog post, Voyager said clients with U.S. dollars in their accounts could withdraw up to $100,000 in a 24-hour period starting as early as Aug. 11, with…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, the DeFi ecosystem saw two exploits one after another resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of what many deemed a decentralized…
What comes to mind when you think of Gucci? Designer handbags, fashion jewelry, elegant Swiss watches? What about payment integration with an ERC-20 governance and utility token that wants to power Web3? Rolls off the tongue, doesn’t it? The iconic Italian fashion brand announced this week it would expand its payment options to include the Bored Ape Yacht Club-affiliated ApeCoin…
Ever since a prominent Chinese Ethereum miner announced his intention to resist the upcoming Ethereum merge and create a new, parallel network and cryptocurrency, the idea has begun to gain some traction. But how far can it really go? The miner, Chandler Guo, launched a campaign last week to draw opposition to the merge—the network’s imminent and much-anticipated transition to…
The now defunct and bankrupt Voyager Digital has been approved by the court to distribute $270 million in funds to creditors and affected customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements that allege Voyager is FDIC insured. The U.S. Bankruptcy Court in New York and Judge Michael…
Cryptocurrencies have failed to break the $1.1 trillion market capitalization resistance, which has been holding strong for the past 54 days. The two leading coins held back the market as Bitcoin (BTC) lost 2.5% and Ether (ETH) retraced 1% over the past seven days, but a handful of altcoins presented a robust rally. Crypto markets’ aggregate capitalization declined 1% to…
In brief Near Protocol disclosed this week that it discovered a wallet vulnerability in June that could have exposed users’ seed phrases. The issue was reportedly fixed in June, but only revealed to the public this week. Blockchain network Near Protocol has disclosed a security breach that was discovered in June, which could have resulted in a third-party service gaining…
