Crypto news

When Virgin Orbit went public, its valuation was pegged at around $4 billion, however, the tides have shifted over the past few months with the company’s market capitalization now pegged at around $65.38 million. Satellite launcher and space technology company Virgin Orbit Holdings Inc (NASDAQ: VORB) has filed for Chapter 11 bankruptcy in the United States bringing a solemn end to its months of financial instability. As reported by CNBC, the bankruptcy was filed in the US Bankruptcy...

The state of Connecticut is freaking out over how much crypto fraud has occurred through its growing network of bitcoin and digital currency ATMs. Thus far, millions of dollars have been stolen from multiple residents, many of whom are over the age of 60. Connecticut Is Concerned About Crypto Fraud The crypto space is largely unregulated, meaning whatever money gets stolen from one’s account will likely be gone forever unless law enforcement agents can jump on the matter...

The insiders of the now-defunct Signature Bank have reportedly sold over $100 million of shares in the years after the bank shifted its focus to attract cryptocurrency companies. According to an analysis conducted by the Wall Street Journal, Signature Bank’s chairman, its former chief executive officer, as well as his successor collectively sold around $50 million of shares over the past three years. The trio, whose sales accounted for around half of the amount sold, served...

WonderFi (WNDR), Coinsquare and CoinSmart as a combined entity will have a total of 1.65 million users and more than $600 million in assets under custody.  On Monday, April 3, three Canadian crypto exchanges – WonderFi (WNDR), Coinsquare and CoinSmart – announced their plan for a merger thereby creating the country’s largest regulated crypto trading platform. Executives from the respective exchanges said that the merger would help them function effectively while giving a new edge in...

The two banks also assure of plans to allow the platform to accommodate central bank digital currencies in the future. Earlier, Crédit Agricole CIB and SEB jointly announced the launch of a new public blockchain-based platform, so|bond. According to the announcement, the platform will be focused on improving the efficiency of issuing digital bonds, albeit with a little twist of sustainability. That is, while the network is not exactly fixated on green bonds, it still aims to be...

Li.Fi said that the fundraise will help them execute their long term strategy of getting more users into the Web3. In the latest development, Li.Fi – the multichain liquidity and data gateway provider – raised a total of $17.5 million in Series A fundraise co-led by crypto native investment firms Superscrypt and CoinFund. This fundraise comes at a time when the global macro environment is uncertain and liquidity has been drying up. Li.Fi Series A Funding Li.Fi said that the fundraise will...

According to the company, it has plans to produce a total of 1.8 million vehicles with the total delivery expectations pegged around that figure. American multinational electric vehicle manufacturing company Tesla Inc (NASDAQ: TSLA) recorded a bearish close of its stock on Monday following the publication of its first quarter delivery numbers. The figures, unveiled over the week showed the company delivered a total of 422,875 electric vehicles in the quarter with a total production of...

Google’s chief of finance referred to the 2008 times when the expenses were growing faster than the revenue, and thus they have decided on an internal rejig in that regard. Big-tech companies across the globe have been cutting additional costs amid the tightening macro environment. Ruth Porat, Google finance chief, said in a companywide email that the company is making cuts to employee services. In a Friday email titled “Our company-wide OKR on durable savings,” Porat said that these are...

US government agencies have been actively encouraging similar ideas associated with financial literacy since 2003 when April was formally appointed the National Financial Capability Month. The United States Securities and Exchange Commission (SEC) has revealed a series of education events focussing on underrepresented communities and others- but indicated that competitors should be educated to practice caution while using crypto. In an April 3rd announcement, the SEC disclosed that it...

Japan’s Financial Services Agency (FSA) issued a warning letter to four leading cryptocurrency platforms (Bitget, Bybit, MEXC Global, and BitForex) for failing to receive proper registration. The watchdog alerted in 2021 that Bybit had started offering services without obtaining the necessary licenses. The FSA’s Latest Warning The Japanese regulator maintained in a recent letter that the four companies violated the nation’s fund settlement laws by “conducting crypto asset...