Core Scientific has received permission from the bankruptcy court for the Southern District of Texas to take out a loan of up to $70 million from investment bank B. Riley, one of the company’s biggest creditors. The loan would be used to pay off the bankrupt Bitcoin miner’s existing debtor-in-possession (DIP) financing loan, which also came from B. Riley. Core…
Ethereum is preparing to launch a user-facing dress rehearsal of its much-anticipated Shanghai upgrade, with a public testnet of the software set to go live Wednesday morning. The public testnet, dubbed Zhejiang, will allow any Ethereum user to simulate the process of withdrawing staked ETH. That full capability will be rolled out when the Shanghai upgrade goes live—sometime in March…
The Uniswap DAO has approved a second non-binding proposal, called a “temperature check,” to make Wormhole the official bridge for cross-chain governance of the protocol between BNB Chain and Ethereum, according to the official proposal page. BREAKING: Wormhole has won the vote to be Uniswap’s designated bridge to the Binance Chain! This is a major step forward in the development…
Seven days ago, finder.com, a product comparison website, published a forecast report based on predictions from several crypto and fintech experts, predicting bitcoin’s year-end price for 2023. Following the bitcoin price prediction report, Finder released another survey focused on ethereum, the second-largest crypto asset in terms of market capitalization. Finder specialists believe ethereum will reach a peak of $2,474 per…
Blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Technology Focus Initiative (STRATFI) by the United States Air Force (USAF). The initiative is focused on identifying and advancing technologies that could secure the future dominance of the U.S. Air Force. According to the announcement, the investment will be used to develop blockchain applications in supply chain management…
Dennis Porter, chief executive officer of the Satoshi Action Fund, is taking the fight for hearts and minds on Bitcoin mining to Washington, D.C. and beyond in an effort to support friendly legislation. Porter, who first discovered Bitcoin (BTC) in 2017, told Cointelegraph his path on advocating the benefits of mining has taken him to support bills in at least…
Bankrupt crypto lender Celsius used Quickbooks to keep track of its finances, a court-appointed examiner wrote in a report released Tuesday. That made it especially challenging to assess the company’s finances post-bankruptcy, as Quickbooks is “geared mainly toward small and medium-sized businesses,” wrote Examiner Shoba Pillay. Celsius’s finances were tracked across its various divisions in 15 separate Quickbooks files, Pillay…
Rally, a social token platform on the Ethereum network, announced that it was calling it quits on Tuesday. The news came via an email to the Rally community saying that the Rally sidechain would be sunsetted on January 31—the same day the email was sent. “As most of you are aware, 2022 was a challenging year not only for the…
Court-appointed examiner Shoba Pillay submitted her final report on select aspects of operations at bankrupt cryptocurrency Celsius on Jan. 31. The document was commissioned on Sept. 29 and is 470 pages long, not counting the 31 appendices. Pillay is a former federal prosecutor and partner at law firm Jenner & Block. She looked at how customer cryptocurrency was stored at…
The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan originations backed by mining equipment.…
