Crypto asset manager Osprey Funds, which manages the Osprey Bitcoin Trust (OBTC), is operating with less than 10 employees after layoffs, Yahoo Finance reported on Jan. 9 citing sources familiar with the matter. The crypto product issuer laid off 15 employees and became the latest to cut jobs amid the bear market. Osprey Funds CEO…
The Huobi South Korean subsidiary, Huobi Korea, is set to operate as an individual entity after cutting its ties with Huobi Global, according to a report from Korean news outlet News1. Leon Lin, the founder of Huobi Global, owned more than half of Huobi Korea. Among the next major shareholders are Huobi Korea Chairman Jo…
Binance has experienced a significant outflow of assets in the past two months, a recent report from Forbes found. Forbes analysts dove deep into Binance’s wallets and found that the exchange saw around $12 billion of outflows since November. Aside from the massive outflows, the report finds the discrepancy between reports of Binance’s holdings troubling. A…
Metropolitan Bank Holding Corp., the holding company for the New York-based Metropolitan Commercial Bank (MCB), announced on January 9 that it would close its cryptocurrency unit by 2023. Metropolitan Bank Holding Corp. (the “Company”) (NYSE: MCB), the holding company for Metropolitan Commercial Bank, today announced that it will fully exit the crypto-asset related vertical.https://t.co/JrTOs1y5sX —…
Bitcoin short liquidations continue to pile up as BTC moves higher. Coinglass showed that $53.24 million in shorts were liquidated since the turn of the year. By contrast, $11.98 million in longs were liquidated over the same period. The four-hour chart showed the divergence between shorts and longs taking effect predominately on Jan. 8 –…
The recent price performance of Gala took the crypto community by surprise. At press time, the GALA token posted 60% gains over the last 24 hours to trade at $0.03691 — a nine-week high. Similarly, Zilliqa recorded 47% gains over the same period, while large caps Solana and Cardano were up 19% and 17%, respectively….
Amid insolvency speculations, cryptocurrency payments platform Wyre slashed its withdrawal limits by 10% on Jan. 7. In a Twitter thread, Wyre announced that its customers can now only withdraw up to 90% of the funds in their accounts. Users will still be subject to daily withdrawal limits, according to which only 5 Bitcoin (BTC) and…
China-based Bitcoin mining pool, Poolin, registers a record decline in hash rate share to 1% from its all-time high of 18% – a 94% decline, according to data from Glassnode. Source: Glassnode Poolin contributed 4354 blocks in the Bitcoin mining pool with a hash rate share of 8.182% if we extend the timeline to a…
Canadian Bitcoin mining firm, Hut 8 increased its Bitcoin holdings by 161 in December 2022 – a decline of 32.35% from November’s 238 Bitcoins. Further, Hut 8 mined Bitcoin at an average of 5.2 Bitcoin/day in December – a fall from the November average of 7.9 Bitcoin/day. The firm’s total Bitcoin count on December 31…
Bitcoin (BTC) saw its second-worst year to date (YTD) in 2022 since launch — predicted to remain flat through 2023, according to Arcane Research (AR). Down 65% by the end of 2022, BTC performed worse on only one other occasion — in 2018, down 73% on the YTD. Source: Arcane Research Compared to gold and…