Compass Mining, a Bitcoin (BTC) mining rig service, was notified that the owner of lucrative mining hubs 2 and 3 located in Georgia would shut down amid rising energy costs. Since Compass sells Bitcoin mining hardware and contracts for facilities, it did not have an influence over the decision. According to a company-wide email on Thursday, Compass was not aware…
A guide to the projects and companies working to make web3 development as easy as web2 Around the Block, from Coinbase Ventures sheds light on key trends in crypto. Written by Jonathan King, Connor Dempsey, & Hoolie Tejwani Special thanks to Mike Armstrong, Aaron Henshaw, Michael Atassi, Steven Willinger, and Shan Aggarwal for helping to inform this article. Despite the…
The decentralized finance (DeFi) ecosystem scored another win against traditional finance, often called TradFi, with a former Morgan Stanley executive launching a DeFi protocol. Kevin Lepsoe, the former head of structuring for Morgan Stanley, aims to deliver an institutional fixed income scheme that offers fixed and floating rates with his new project named Infinity Exchange. According to Lepsoe, his new…
In the wake of allegations made by Crypto Leaks, high-profile crypto lawyer Kyle Roche has filed to withdraw as counsel on several crypto class-action lawsuits. According to a series of court records released on Aug.31, Roche is understood to be “no longer involved” in Roche Freedman’s class action practice. The law firm has also filed to withdraw Roche as counsel in…
The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights found that the global blockchain technology market size was valued at $4.8 billion in 2021, yet this amount is expected to reach $69 billion by 2030. While notable, it’s become critical for the industry to enable rigorous research…
Bitcoin once again slipped below $20,000, as market uncertainty rose ahead of Friday’s Non-farm payrolls report. Tomorrow’s payrolls are expected to come in at 300,000 jobs, which is lower than July’s 528,000 figure. Ethereum also declined, as the price moved away from the $1,600 region. Bitcoin Bitcoin (BTC) briefly fell below $20,000 on Thursday, as crypto traders began to anticipate…
Decentralized finance (DeFi) protocol Babylon Finance has finally announced that it will shut down after months of trying to recover from the negative momentum that the Rari Fuse exploit caused. In a statement, founder Ramon Recuero explained that the platform experienced an insurmountable negative streak despite their team’s efforts to endure the domino effect caused by the hack. According to Recuero,…
The government of Indonesia returned to its plan to set up a digital assets exchange, publicly announced first time back in 2021. A so-called “crypto bourse” is planned to be established by the end of 2022. According to DealStreetAsia, Indonesia’s deputy trade minister Jerry Sambuaga confirmed during the NXC International Summit 2022 in Bali that the country is still planning…
Ukrainian investigators have exposed a scheme targeting residents of the country and the European Union with various financial scams, including some related to cryptocurrencies. The criminal organization members contacted their victims through call centers to collect personal financial information. Fake Ukrainian Call Centers Promise Foreigners Excess Profits From Crypto Trading Officers from the Main Investigative Department of Ukraine’s National Police…
The bankrupt cryptocurrency lender Celsius is facing more legal issues as disgruntled clients are taking action to recover their funds after the platform froze withdrawals in June. An ad hoc group of 64 custodial account holders at Celsius on Wednesday filed a complaint with the U.S. Bankruptcy Court for the Southern District of New York in order to recover their…
