Crypto news

The largest corporate bitcoin holder has filed a new filing with the US Securities and Exchange Commission that will essentially allow it to purchase more BTC for up to $500 million. The news comes as the cryptocurrency surged past the $20,000 level and jumped to a new two-week high. The filing with the securities regulator shows that MicroStrategy plans to sell up to $500 million worth of its stock for “general corporate purposes, including the acquisition of bitcoin.”...

The Japanese government is handing out non-fungible tokens (NFTs) as a supplementary award to local authorities that excelled in utilizing digital technology to solve local issues as well as fostering the digital economy. A total of seven mayors received NFT awards for various initiatives. As per the report from CoinPost, the tokens, which were distributed at the “Summer Digi Denkoshien 2022” ceremony, essentially represent “digital certificates” of achievement. The award...

Singapore’s asset manager Whampoa Group plans to set up a venture capital fund and a crypto hedge fund for investments in digital assets.  Upon early estimations, the company intends to allocate $100 million. $100 Million Venture Capital Fund The group has earmarked $100 million for the venture fund while it plans to raise $50 million for the crypto hedge fund. It has set up a new entity called Whampoa Digital, which aims to attract third-party capital to invest in the...

Queen Elizabeth II passed away yesterday (September 8) at the age of 96, after wearing the British crown for 70 years and 214 days. The death of the longest reigning monarch in the UK’s history was met with sorrow all over the globe, but it also attracted the crypto community. Hours after the news, memecoins like “Queen Elizabeth Inu,” “Queen Doge,” “God Save The Queen,” “London Bridge Is Down,” “Queen Grow,” “Rip Queen Elizabeth,” “Elizabeth II,” and “Queen Inu II” appeared...

Singapore’s largest bank DBS announced a partnership with Ethereum-based gaming platform The Sandbox to design an interactive metaverse experience  – DBS BetterWorld – as part of its broader roadmap to explore Web 3 opportunities for its customers. The latest deal marks the foray of the first Singaporean entity to collaborate with the Animoca Brands’ subsidiary as it joins DBS’ ambitious “SingaporeVerse,” a neighborhood on its virtual map that seeks to bring the culture of...

Dogecoin co-creator Jackson Palmer is back with more harsh words for the crypto industry, community, and its influencers. This time, he’s after Mark Cuban. The Adobe engineer accused the investor of running a “grift” by trying to claim a stake in the “extractive, grifty system of cryptocurrency.” Drinking the Crypto Kool-Aid In an interview with Business Insider, Palmer said that he thinks Cuban has “drunk the Kool-Aid” surrounding crypto and NFTs.  “Mark Cuban isn’t getting...

Lake Parime – a manufacturer of portable data centers utilized for mining digital assets – is opening a new repair and manufacturing facility in the city of Jacksonville, Florida. Lake Parime Is Building a Crypto Mining Repair Facility Mining is very important for the crypto industry. It’s how new units of crypto are extracted from various blockchains and placed in circulation. However, one must remember that like all things, mining equipment can break down or suffer due...

With energy sources getting expensive rapidly, the environmental impact of validating PoW crypto-assets is being studied intensely. The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper, published on the order of President Joe Biden, essentially seeks to ban Bitcoin, which is based on Proof-of-Work (PoW) consensus mechanism,...

The past seven days were action-packed, and it’s safe to say those interesting developments took place on all fronts. Bitcoin went through considerable volatility, and Terra’s ecosystem in the face of both LUNC and LUNA went on a massive rollercoaster while the Ethereum Merge countdown officially kicked off with the Bellatrix upgrade. Let’s unpack. Starting with Bitcoin, it got off on the wrong footing. For the first few days of the last week, BTC was rangebound around $20K –...

Crypto mining company Core Scientific has announced it is reducing its staff by roughly ten percent and that it’s devaluing the value of its assets as the crypto space continues to suffer at press time. Core Scientific Forced to Lay Off Staff This has been a common theme in the crypto space as of late. Many companies, including big-name exchanges like Gemini in New York and Coinbase have been forced to make serious cutbacks and lay off several staff members so they can...