Crypto news

Seychelles-headquartered crypto exchange – Huobi Global – has been in trouble for quite some time now, which has translated into losing significant market share. The company has been mired in controversy for allegedly shutting down internal com and feedback channels and canceling various employee benefits, among other things. Its market share is also under threat from rival companies. According to the latest study by data provider Kaiko, Huobi’s market share declined from 22%...

Group One – a proprietary trading firm – has purchased options to buy 1.3 million shares of MicroStrategy (MSTR) worth $240 million, per a recent Securities and Exchange Commission (SEC) filing.  As reported by Bloomberg on Tuesday, the purchase would account for a 13.5% stake in MicroStrategy, whose executive chairman is the Bitcoin booster, Michael Saylor.  Group One is a market maker and liquidity provider for U.S. equity options and other securities.  MicroStrategy is an...

One of the leading bitcoin mining companies – Core Scientific – mined 1,356 BTC in November and 1,435 BTC in December. It also boosted its self-mining hashrate from 15.4 EH/s to 15.7 EH/s. The positive performance comes even though the company filed for Chapter 11 bankruptcy protection at the end of December last year. Over 1.4K BTC Mined The US-based firm produced 1,356 and 1,435 self-mined BTC in November and December, respectively, and 795 and 931 bitcoin for colocation...

On January 9, Crypto.com announced the delisting of USDT —the most important stablecoin in the crypto ecosystem— in Canada to comply with the country’s regulations. Several users on Reddit and Twitter reported that Crypto.com sent an email informing Canadian users of the decision. Source: RedditCanadians Must Get Rid of Their USDT Before January 31 According to the statement, users will have until January 31 to withdraw or exchange USDT for any other currency. Failure to do...

Nikhil Wahi – brother to former Coinbase product manager Ishan Wahi – has been sentenced to 10 months in prison following his guilty plea to leveraging his familial connection for insider trading of crypto tokens.  The accomplice will be forced to return the $892,000 he generated in profits from those trades.  “A Terrible Mistake” In July, both Nikhil and Ishan Wahi were arrested on allegations that the latter tipped his brother with information about upcoming Coinbase...

The Office of Foreign Assets Control’s (OFAC) tryst with the crypto industry dates back to 2018 when it designated two Iran-based individuals of malicious cyber activity. There has been no looking back since. More recently, the bombshell announcement that the US Treasury Department banned American citizens from using Tornado Cash, has had industry leaders abuzz. While sanctions did reduce Tornado Cash’s activity, a recent report by Chainalysis shows that it is not easy to...

BlockFi said it plans to disclose assets and liabilities, as well as statements of certain payments made by the platform to insiders and other parties prior to its bankruptcy filing in November. In the latest update, the embattled crypto lending announced it would file both its Schedules of Assets and Liabilities and its Statement of Financial Affairs with the Court on January 11, 2023. “BlockFi looks forward to continuing its open dialogue with the UCC, U.S. Trustee, and all...

Polygon founder Sandeep Nailwal has unveiled the first 13 Web 3 companies to participate in Beacon, his newly launched startup accelerator. The team has confirmed that companies involved in the next cohort will each receive $250,000 in support, for an $8 million post-money valuation.  Fostering Web3 Growth Nailwal announced Beacon’s launch late last year, with the goal of helping Web 3 founder navigate the challenges of the industry. It uses weekly sessions and mentoring to...

Woo Network is a DeFi liquidity provider for institutional platforms and has attracted equity investments from backers like Binance. Revamped Tokenomics for Woo The Woo Network tokenomics revamp involves a series of improvements to its token distribution, the team announced on Monday, (January 10, 2023). These improvements are part of efforts to address issues regarding the current token distribution. Woo’s token revamp will begin with a planned burn of 705 million WOO...

The DeFi world, along with the rest of the cryptoverse, is still in the grip of fear and dread. 2022’s crypto winter continues with no clear end on the horizon. With still no sight of a near-term market bottom forming, some investors have even taken to wondering if DeFi is dead on arrival altogether. But there are some inspiring data about the health and usage of the most prominent DeFi ecosystems today. The winners will go on to keep playing through the next big crypto...