Cryptocurrency Analysis and News Portal
DCG once appeared to be untouchable but may fast be losing its stability.Digital Currency Group (DCG) has announced that it is shutting down operations at its wealth management division HQ. According to a report by The Information, DCG is taking such a drastic step due to the prevalent economic situation
Read More
According to several reports, Wyre, a cryptocurrency payments firm, is allegedly sunsetting its business. Wyre’s purported wind down follows Bolt, another payments company, canceling its plan to acquire Wyre in September. Wyre CEO Ioannis Giannaros, however, told Axios that the company is “still operating” and is simply “scaling back.” Wyre Cryptocurrency
Read More
Bankrupt cryptocurrency lender Celsius Network has agreed to let Bitcoin (BTC) miner Core Scientific shut off more than 37,000 mining rigs it had been hosting for Celsius during the miner’s bankruptcy proceedings.Core Scientific filed a revised proposed order on Jan. 3 that incorporated “revisions acceptable to Celsius” stating “all Celsius
Read More
Bitcoin’s network hashrate has returned to regular levels again, days after freezing temperatures across the United States put a strain on the nation's electricity grid — leading to a temporary drop in hashrate.In the days leading up to Christmas, bone-chilling temperatures swept across the United States, leading to millions without
Read More
Ripple’s chief technology officer has responded to a conspiracy theory fabricated by Artificial Intelligence (AI) tool ChatGPT, which alleges the XRP Ledger (XRPL) is somehow being secretly controlled by Ripple. According to a Dec. 3 Twitter thread by user Stefan Huber, when asked a series of questions regarding the decentralization
Read More
Cryptocurrency exchange Bitfront has announced its intention to cease operations in the coming months, citing challenges facing the industry. The U.S. trading platform, backed by Japan’s social media giant Line, indicated the decision is unrelated to the collapse of FTX. Line-Supported Digital Asset Exchange Bitfront Suspends New Sign-ups Bitfront, a crypto
Read More
The Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter.Line-owned crypto exchange Bitfront officially announced on Nov. 27 a plan to completely close down the platform by March 2023.According to the statement, the closure was driven by the continued cryptocurrency bear
Read More
Sollet Bitcoin (soBTC), a so-called “wrapped” asset supposedly backed 1-to-1 with bitcoin, plummeted $10,000 at around 2:00 p.m. ET, according to decentralized finance protocol Raydium. It had already spent much of the day trading below its bitcoin peg on the news that FTX had filed for bankruptcy protection. Original Source
Read More
The time it takes to register a firm depends on the quality of the information provided to the Financial Conduct Authority, the regulator told CoinDesk. Original Source
Read More
Macro markets and geopolitics dominated the news this week, with Russia cutting off Europe’s gas supply, hedge funds betting against Italian debt, and the International Monetary Fund’s bailout for Zambia helping the kwacha overtake the ruble as the world’s best-performing currency. Also in this week’s news, Ethereum co-founder Vitalik Buterin
Read More