On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion. Core Scientific Voluntarily Files for Chapter 11 Bankruptcy Protection, Company’s Largest…
What a year for the coins. Few could have predicted that Bitcoin’s bull run—which began at the end of 2020 and pulled the entire market up by its bootstraps—would have collapsed and annihilated virtually all of its gains. Still, in a year that saw an industry-wide liquidity crisis catalyzed by the collapses of Terra’s UST stablecoin, FTX’s bankruptcy, and the…
What a year for the coins. Few could have predicted that Bitcoin’s bull run—which began at the end of 2020 and pulled the entire market up by its bootstraps—would have collapsed and annihilated virtually all of its gains. Still, in a year that saw an industry-wide liquidity crisis catalyzed by the collapses of Terra’s UST stablecoin, FTX’s bankruptcy, and the…
A Russian legislator who was one of the authors of the bill to legalize cryptocurrency mining in the country has been tied to a local over-the-counter (OTC) exchange known as Bankoff. Russian opposition activist Mikhail Khodorkovsky linked Bankoff OTC to lawmaker Andrei Lugovoi in an article of London-based investigative project Dossier Center on Dec. 19. The 6,000-word article was accompanied…
Each person who receives cryptocurrency becomes a member of a community already numbering in the millions, with common goals, interests and plans. But how can you find the right gift for the crypto enthusiast in your life when the holidays come around? It’s no secret that people struggle to choose gifts when they want to meet the expectations of another…
Web3 and emerging technologies have been pushing the boundaries of art distribution, ownership and engagement with fans. However, not all of the recent developments are welcomed by the art community, especially when it comes to artificial intelligence (AI). Recently, AI-generated art has sparked a major debate around ownership after a smartphone app went viral which created AI-generated portraits. The debate…
Paxful, a global peer-to-peer trading platform, is set to remove Ethereum (ETH) trading from its marketplace. “We finally kicked Ethereum off our marketplace. 11.6m humans safer. Integrity over revenue 🤝🏽 Who is next ?” Paxful CEO Ray Youssef tweeted on Wednesday. According to a screenshot of the newsletter sent to Paxful users, ETH trades will be stopped on Thursday, which,…
Peer-to-peer cryptocurrency marketplace Paxful has removed Ether (ETH), Ethereum’s native token, from its marketplace, citing a number of concerns around the world’s second-largest cryptocurrency by market capitalization. Paxful CEO Ray Youssef announced the move in a message to some 11.6 million users of the platform, which he subsequently shared on Twitter. We finally kicked #ethereum off our marketplace. 11.6m humans safer.…
Comparisons to Bernie Madoff are not quite right. But there are some similarities between the man who’s become synonymous with financial crime and FTX founder Sam Bankman-Fried, says a former Securities Exchange Commission attorney. “Madoff was the chairman of Nasdaq, and he created the first electronic exchange in the United States. Probably, when Madoff started off, I’m sure his intentions…
Bitcoin was briefly trading above $17,000 on Wednesday, as markets prepared for the release of the upcoming U.S. consumer confidence report. Today’s figure is expected to come in at a reading of 101.00 for December, which is higher than last month’s number of 100.2. Ethereum was also in the green, as it neared a key resistance level. Bitcoin Bitcoin (BTC)…
