Alex Mashinsky—CEO of the bankrupt crypto lender Celsius Network—has submitted a letter of resignation to the company’s Board of Directors, according to a press release from a New York law firm on Tuesday. “I elected to resign my post as CEO of Celsius Network today,” said Mashinky in a statement. “Nevertheless, I will continue to maintain my focus on working…
Month: September 2022
Global think tank suggests blockchain in public finance can help reduce fraud
The Official Monetary and Financial Institutions Forum, or OMFIF, an independent global think tank for central banking and economic policy, has released a report suggesting that blockchain technology in a public finance management system could provide information essential to “formulate and design fiscal policy.” According to a Tuesday report, the OMFIF said modernizing public finance management through blockchain could help…
Crypto for All: Empowering our Ukrainian clients with Bitcoin
“Cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and custodians.” – Jesse Powell, Kraken Co-founder and CEO On March 9, 2022, we announced an ambitious aid package as Kraken distributed $1,000 in BTC to all Ukrainian accounts. This came two weeks after Russia began a large-scale…
Robinhood Web3 wallet enters beta, taps Polygon as first blockchain
Crypto and stock trading platform Robinhood announced the launch of Robinhood Wallet, a self-custody, Web3 wallet, with Polygon (MATIC) as its first supported blockchain. Robinhood launched the beta version of its Web3 wallet on iOS. It is being made available to the first 10,000 users who joined the waitlist in May 2022. Hosted first over the Polygon blockchain, Robinhood Wallet…
Nexo acquires stake in US chartered bank
Digital asset lending platform Nexo has purchased a stake in a holding company that owns a federally chartered bank in the United States — a move Nexo said will enhance its ability to serve retail and institutional clients. Nexo disclosed Tuesday that it had acquired a stake in Hulett Bancorp, a holding company that owns the federally chartered Summit National…
Mature Bitcoin Wealth Taps an All-Time High — Diamond Hands Trend Highlights ‘Refusal to Spend’ – Featured Bitcoin News
After bitcoin neared $25K roughly 44 days ago, the crypto asset’s price has lost more than 17.88% in value against the U.S. dollar. Onchain analysis from researchers at Glassnode details that the price drop has placed short-term holders into “severe unrealized loss.” Long-term holders, on the other hand, are holding strong and Glassnode researchers say numerous metrics are “displaying a…
Ethereum fork token ETHPoW climbs 150% after smart contract hack — A fakeout rally?
ETHW has logged a significant price rebound despite its blockchain network, ETHPoW, suffering a smart contract hack in the first week after its launch. The short analysis of the attackhttps://t.co/87OVRqaYb2 https://t.co/vhRJyZVc72 — BlockSec (@BlockSecTeam) September 18, 2022 Bull trap risks surround ETHW market ETHW rebounded more than 150% eight days after the attack and traded for around $10.30 on Sept.…
Nexo Buys Stake in Federally Chartered US Bank Summit National
Crypto lending platform Nexo announced today that it was taking a stake in Summit National Bank, based in Wyoming. By taking a stake in the US federally chartered bank, which is regulated by the Office of the Comptroller of the Currency, the Switzerland-based Nexo is extending its footprint in the United States. Nexo declined to disclose the terms of the…
Korean authorities orders freeze of $67M of Bitcoin tied to Do Kwon
South Korean authorities have requested crypto exchange OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied to Do Kwon, the co-founder of Terra blockchain developer Terraform Labs. Kwon, who is currently on the run from the Korean authorities in the securities violation case, reportedly created a new wallet on Sept. 15, just a day after a Korean court issued…
Robinhood Taps Polygon Over Ethereum for Its Web3 Wallet Beta Launch
Robinhood announced the launch of its beta Web3 wallet, giving 10,000 waitlisted customers the ability to participate in the wallet’s testing phase. The application, which is solely available on Apple mobile devices, will let users trade crypto with reportedly “no network fees,” as well as earn yield by connecting with other decentralized applications (dApps). The beta version will not support…