Core Scientific, one of the industry’s largest Bitcoin miners, is reportedly filing for Chapter 11 bankruptcy protection in Texas on Wednesday, according to a CNBC report citing a person with knowledge of the matter. Per the report, Core Scientific will not liquidate and will continue its operations while trying to reach a deal with senior security noteholders holding the majority…
According to a new study, out of the estimated 55.3 million cryptocurrency holders that are spread among 33 African countries, three countries — Nigeria, South Africa, and Kenya — account for approximately 36.14 million or nearly two-thirds of this total. In contrast, the study found that Seychelles, which is home to several cryptocurrency exchanges, has approximately 1,000 cryptocurrency holders. Nigeria…
Over the last year, the crypto space has endured lasting market volatility and scandals, which have negatively affected consumer trust in the industry. However, an end-of-the-year report from Accenture revealed that consumers are still holding crypto – and for the long term. According to Accenture’s 2022 Global Consumer Payments report, while many consumers still prefer traditional payment methods such as…
From Jan. 1, 2023, the term “virtual currency” will take its place in the money transmission regulations of Alaska. It will oblige the companies dealing with digital currencies to obtain a money transmission license in the state. As reported by the law firm Cooley on Dec. 19, the state of Alaska amended its money transmission regulations to include the definition…
The stories about people getting their private keys hacked or stolen are nothing new, and users have reportedly lost their life savings because of these thefts. However, in quite an anti-climax scene, a crypto user managed to save their crypto holdings despite losing the private keys. Harpie, an on-chain security firm, revealed an instance of on-chain crime drama where the good…
With more regulators eyeing the crypto space as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved. In an email to its customers, Superhero highlighted that it will not be proceeding with its merger with the crypto exchange. According to the company, this is because of heightened regulatory…
Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices. On Dec. 14, Financial services platform B. Riley offered to finance Core Scientific with $72 million…
The alleged operator of crypto exchange BTC-e, Alexander Vinnik, has asked to be released on bail due to the delay in court proceedings. In early August, the Russian IT specialist was extradited to the United States to face charges of money laundering through the now-defunct coin trading platform. Vinnik’s Defense Appeals for His Release on Bail After Months in U.S.…
Chinese telecom giant Huawei doesn’t believe current telecom infrastructure is enough to cope with the needs of the Metaverse, adding that 5G and 6G networks just might. The comments came from Huawei’s Middle East region’s Chief Expert on Business & Strategy Consulting, Abhinav Purohit, who published a three-part blog series on Dec. 20 focused on the potential of the Metaverse…
press release PRESS RELEASE. The popular online gift card exchange BuySellVouchers now accepts Binance USD (BUSD) as payment. With thousands of customers and sellers worldwide, BuySellVouchers has become one of the most significant gift card marketplaces which accepts crypto payments. To further serve its diverse customer base, BuySellVouchers marketplace continues to add new cryptocurrencies. E-Vouchers and e-Gift cards have grown…
