The crypto community’s reaction to Do Kwon’s first interview since Terra’s implosion has been lukewarm, with many saying they learned nothing new. Do Kwon’s interview: doesn’t say anything we don’t already know and it says a lot less than you expect to hear. The journalist seems to be incisive, but he is not, it shows…
Embattled crypto lender Celsius filed for Chapter 11 bankruptcy in July and filed new documents in court on Aug. 14, detailing its budget for August through October. According to court documents, Celsius expects its net cash flow to turn negative to the tune of $137.21 million in the three months ending in October. Huge operating expenses,…
Exchange balance refers to the amount of Bitcoin sitting on exchanges, and it was following a downtrend since January 2022 for both Coinbase and Binance when suddenly Binance’s exchange balance took a turn and started to spike in May. It’s still increasing, while both overall and Coinbase’s exchange balance continue to fall. Bitcoin Exchange Balance…
Siacoin’s (SC) parent company, Skynet Labs, has announced that it will shut down operations after failing to raise sufficient funds in its latest funding round. However, this decision will not affect the Skynet platform, which will continue to operate, and all users’ files will remain on the platform. “Skynet will have to continue without Skynet…
Crypto exchange giant Huobi’s founder and CEO Leon Li is in talks with investors to sell his majority stake for $2 billion to $3 billion. According to a Bloomberg News report, Tron founder Justin Sun and FTX founder Sam Bankman-Fried (SBF) are among the interested parties. Li holds nearly 60% of Huobi Global’s shares. If Li manages…
Since the outbreak of war in Eastern Europe, Bitcoin and cryptocurrency have featured on both sides of the conflict. In the case of Ukraine, at the start of the war, government officials called on the crypto community to donate funds. At the same time, Russia opted for a more inclusive approach, including U-turning on its…
Billionaire owner of the Dallas Mavericks basketball team, Mark Cuban, is facing a class action lawsuit by Voyager Digital investors and Mavericks fans for promoting Voyager Digital, which filed for chapter 11 bankruptcy on July 5, 2022. According to the plaintiffs, Cuban promoted Voyager Digital to Maverics fans numerous times on different occasions and allegedly…
China-based crypto exchange platform Hotbit announced its assets were frozen due to an ongoing investigation of the company, and it had to suspend all trading, deposit, and withdrawal functions until its assets were released. An Aug. 10 post on the company’s website stated: “We regret to inform you that Hotbit will have to suspend trading,…
A mysterious investor spent over $3 billion to purchase nearly 133,000 Bitcoin on Aug. 10 and became one of the top three largest individual Bitcoin holders. The unknown buyer purchased their Bitcoins for an average of $23,000 each. According to data from June 2022, Satoshi Nakamoto is the largest Bitcoin holder amongst all individuals, exchanges,…
Unfavorable market conditions have forced German-based crypto bank Nuri to file for insolvency. Nuri announced on August 9 that it has become insolvent due to financial struggles due to the crypto winter and its exposure to the Luna and Celsius collapse. The filing became necessary to enable the digital bank safely return the customer’s funds…