Bitcoin’s crabwalk could extend into September, as Mt. Gox and the US government threaten to add nearly $15 billion worth of additional selling pressure. Source: https://cointelegraph.com/news/bitcoin-sell-pressure-september-2024?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Month: August 2024
Layer-1 Platform Radix Cuts Workforce by 15%
The decentralized finance platform Radix Network announced a 15% workforce reduction on Aug. 28. CEO Piers Ridyard stated that the decision was made to decrease overhead costs. Ridyard said that while core projects like Flash Liquidity and MFA are expected to continue, users may experience disruptions due to the changes. RDX Works Seeks to Reduce […] Source: https://news.bitcoin.com/layer-1-platform-radix-cuts-workforce-by-15/
Washington State Probes Alleged Crypto Fraud Linked to Fake Nasdaq Exchange
The financial watchdog in Washington State is currently probing a complaint regarding a cryptocurrency platform that allegedly purports to be associated with the Nasdaq Stock Exchange. This inquiry began after an investor reportedly put in $200,000 following a solicitation on Facebook that transitioned to communication over Whatsapp. The regulator has flagged this as a potential […] Source: https://news.bitcoin.com/washington-state-probes-alleged-crypto-fraud-linked-to-fake-nasdaq-exchange/
Ex-Square, Coinbase execs raise $58M for Bridge stablecoin network
Bridge seeks to build a global stablecoin payment network to rival traditional systems like Swift and credit cards. Source: https://cointelegraph.com/news/bridge-stablecoin-network-raises-58m?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
ETH restaking surge driven by a decrease in annual staking rates — P2P.org
Artemiy Parshakov, the head of staking at P2P.org, said that the fierce competition among service providers in staking had driven the adoption of restaking. Source: https://cointelegraph.com/news/ethereum-restaking-surge-apr-decrease-defi-trends?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
WazirX Sets Aside $12 Million to Recover Stolen Crypto, Pay Legal Costs
WazirX has set aside millions of dollars to cover legal costs related to the theft of hundreds of millions of dollars in crypto after a cyberattack in July brought the Indian exchange to its knees. On Wednesday, Singapore-based Zettai Pte Ltd, the holding company of WazirX, filed an affidavit with the High Court of Singapore, requesting a 30-day moratorium to…
Parafi Capital Secures $120 Million for Investing in Crypto Funds
The New York-based digital asset manager, Parafi Capital, has secured $120 million to invest in general partner stakes of crypto funds. These funds focus on specific market segments, strategies, or geographic locations. With this funding, Parafi Capital aims to build a portfolio of 30-50 general partner stakes in crypto funds. Parafi Capital Prioritizes General Partner […] Source: https://news.bitcoin.com/parafi-capital-secures-120-million-for-investing-in-crypto-funds/
South African Fintech Firm Raises $7.5 Million to Expand Financial Inclusion
Omnisient, a South African fintech startup, secured a $7.5 million Series A investment from Arise to support its mission of enhancing financial inclusion across Africa and beyond. The investment will help Omnisient expand its technology to African, European, and U.S. markets. The startup is also seeking strategic partners in the U.S. market and retail media […] Source: https://news.bitcoin.com/south-african-fintech-firm-raises-7-5-million-to-expand-financial-inclusion/
BlackRock's Bitcoin ETF registers second-ever outflow of $13.5M
BlackRock’s Bitcoin ETF has faced its second-ever day of outflows as the price of Bitcoin dipped below $59,000. Source: https://cointelegraph.com/news/blackrock-ibit-bitcoin-etf-second-outflow-day-13-million?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
JPMorgan Executive Sees Big Future for India’s CBDC Initiative
Naveen Mallela, global co-head of Onyx, JPMorgan’s blockchain and digital currency unit, highlighted the rapid adoption of blockchain technology in India, particularly after the 2022 launch of the central bank digital currency (CBDC), the e-rupee. He noted that CBDCs represent a significant advancement for Indian payments, positioning them as the next step in the evolution […] Source: https://news.bitcoin.com/jpmorgan-executive-sees-big-future-for-indias-cbdc-initiative/