Stablecoin giant Tether has appointed the company’s Chief Technology Officer (CTO) Paolo Ardoino as CEO, assuming the role formerly held by Jean-Louis van der Velde (JL). Ardoino will formally assume his leadership role beginning in December while continuing to operate as CTO. He also remains CTO of crypto exchange Bitfinex, and Chief Strategy Officer of Holepunch, an app development platform.…
In my journey through the dynamic world of the crypto industry, I’ve witnessed a significant shift in how the mining of cryptocurrencies is approached. Long gone are the days when one needed hefty rigs humming away in their basements to be a part of this revolution. Now, with the advent of cloud mining, participating in the cryptocurrency gold rush —…
Our weekly roundup of news from East Asia curates the industry’s most important developments. SBF’s Chinese bribe scandal worsens According to October 11 testimony from Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, her colleague — disgraced FTX founder Sam Bankman-Fried — allegedly paid $150 million in bribes to Chinese government officials in 2021, higher than the $40 million disclosed initially. …
Blockchain network congestion, explained Blockchain network congestion refers to a situation where the number of transactions exceeds the network’s capacity, resulting in processing delays. When there are more pending transactions than the network can handle, blockchain networks get congested. Limited block sizes and the length of time required to construct a new block are the causes of this issue. Transactions…
President Miguel Albuquerque of Madeira has announced plans for the creation of a Bitcoin business hub, aiming to drive innovation in the region. The statement was made during a fireside chat with Prince Filip of Serbia on the second day of Bitcoin Amsterdam 2023. Prince Filip expressed interest in the new Bitcoin business hub, emphasizing its role in technology development…
Decentralized exchange (DEX) THORSwap has resumed operations after briefly going into maintenance mode due to detecting illicit funds on its platform. THORSwap took to X (formerly Twitter) on Oct. 12 to announce that the platform is back online. The platform asked users to resume their regularly scheduled swapping of over 5,500 assets across 10 blockchains, right from their own self-custody…
Asian and European stock markets faced sharp declines on Friday, with China spearheading the downturn as its September consumer price index showed no growth. Markets pundits say weak economic indicators from China could become a cause of concern for the global economy. European stocks also traded lower on Friday due to concerns stemming from U.S. inflation data suggesting potential higher…
Blockchain gaming projects have seen $2.3 billion in investments in 2023, with the third quarter getting $600 million despite crypto market prices seemingly being in a bearish mood all year. According to a report from the decentralized applications (DApp) tracking platform DappRadar, the first quarter of 2023 netted $739 million in investments, while the second and third quarters got $973…
Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus. Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will become the new CEO of the firm in December 2023, Tether announced on Oct. 13. Ardoino will replace Jean-Louis van der…
The ongoing trial of former FTX CEO Sam Bankman Fried has uncovered a series of explosive revelations in the form of testimonies from former key FTX and Alameda executives. The latest court proceedings on Oct. 12 saw former Alameda Research CEO Caroline Elisson testify for the third day, following which the jury was presented with a recording of a meeting…
