Category: Latest news

[ad_1] Dunamu, the parent company of South Korea’s largest crypto exchange Upbit, reported third-quarter revenue of $205 million and profit of $124 million, respectively, down 66% and 76% from a year ago. During the third quarter of 2022, the company recorded sales of about $204 million, an operating profit of $125.5 million, and a net…

[ad_1] BlockFi became the latest platform to succumb to crypto contagion, filing for Chapter 11 bankruptcy on Nov. 28. Weeks before, after FTX had also filed for bankruptcy, BlockFi issued a statement saying it could not “operate business as usual.” At the same time, the firm implemented a pause on withdrawals to “protect our clients and…

[ad_1] Ripple general counsel Stuart Alderoty described BlockFi’s bankruptcy as another success for the U.S. SEC and its regulation-by-enforcement approach. Another SEC “regulation by enforcement” success story. Months after $100M BlockFi/SEC deal BlockFi in b/cy. $275M loan outstanding to FTX from BlockFi. Unknown amounts owed to BlockFi from FTX. Nothing ever registered. Fines paid? With…

[ad_1] The biggest news in the cryptoverse for Nov. 28 includes Kraken CEO saying Binance Proof-of-Reserve is pointless without proof of liabilities, Coinbase losing Bitcoin worth  $2 billion over the weekend, and BlockFi filing for Chapter 11 bankruptcy.  CryptoSlate Top Stories Another $2B worth of Bitcoin withdrawn from Coinbase over weekend According to Glassnode, crypto…

[ad_1] Price drawdown from ATH compared to previous bear markets Bitcoin is currently down 75% from its all-time high (ATH), with a max drawdown of 76.9% from the fallout of FTX on Nov. 9th. However, this is not unusual in Bitcoin’s history. During the 2014-15 bear market, Bitcoin retracted over 85% from its ATH, and…

[ad_1] Vice President of the Hong Kong exchange AAX, Ben Caselin, has announced that he has resigned. Hong Kong exchange AAX VP BEN said that he had resigned. A screenshot shows that AAX HR stated that the company has decided to dissolve (bankruptcy and liquidation), employees can only guarantee salaries in November, and users’ assets…

[ad_1] Glassnode and CryptoSlate Deep Dive: How a cold winter is impacting Bitcoin miners and why the fear has just begun – Issue 01 The current state of Bitcoin Miners is extremely stressful as coin prices declined, and credit has contracted, while mining input energy costs have also been on the rise. 🤝 Brought to…

[ad_1] Texas Governor Greg Abbott sees value in what Bitcoin means to the entire world, adding that his state “wants to be the centerpiece of that.” Texas is Bitcoin country Speaking to the Texas Blockchain Council, Abbott encouraged Bitcoin entities to set up shop in Texas, saying those that do will be rewarded with “ease…

[ad_1] Germany operates one of the world’s largest networks of Ethereum validators, according to the 2022 German Blockchain report published by CV VC Labs. The report which offers a structural overview of the country’s blockchain ecosystem, also indicated Germany accounts for nearly 6% of Europe’s blockchain funding.  The European country has a 22.8% share of…

[ad_1] Crypto influencers started a joke about wrapped Ethereum (WETH) losing its peg and becoming insolvent over the weekend, causing a brief panic within the community. The joke started on Nov. 26 when blockchain developer Cygaar tweeted that WETH was about to become insolvent and that they would bail out anyone at a rate of…