Crypto news

Superdao, a platform founded to help with the development of decentralized autonomous organizations (DAO), said it would shut down operations due to unprofitable returns and would refund investors. The platform raised over $10 million in 2022 and supported more than 2,000 DAO launches. Superdao to Exit Market Superdao CEO Yury Lifshits announced plans to wind down operations, stating that providing specialized crypto infrastructure is not a profitable project because the...

Do Kwon, the co-founder of Terraform Labs, is at the center of a legal storm as new revelations regarding the terraUSD (UST) stablecoin collapse in 2022 come to light. Kwon is under investigation, with recent developments indicating that the involvement of market maker Jump Trading could be crucial in the legal proceedings. Jump Trading’s Profits Under Scrutiny in TerraUSD Case Following the collapse of the UST stablecoin in May 2022, Kwon was sued by the U.S. Securities and...

New York Attorney General Letitia James has taken decisive action against major players in the cryptocurrency industry, filing a lawsuit against Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG). The legal action centers around Gemini Earn, a joint effort between Genesis and Gemini that offered investors significant returns on their cryptocurrency deposits. Nonetheless, James asserts that these returns were founded on misleading information, resulting in...

Matrixport’s analysis suggests that if Tether’s (USDT) market cap increases by $24 billion, acting as a proxy for potential ETF inflows, Bitcoin’s price could rise to $42,000, representing a conservative estimate. A recent report from the crypto financial services platform Matrixport suggests that the approval of BlackRock’s Bitcoin Exchange Traded Fund (ETF) could propel the price of Bitcoin (BTC) to the range of $42,000 to $56,000. The Impact of BlackRock’s ETF Approval on BTC Price...

Coinbase is looking to expand its footprint in Europe amid more crypto-friendly MiCA laws that will allow it to operate in all 27 EU states under a single license. In a major move, crypto exchange Coinbase Glonal Inc (NASDAQ: COIN) has decided that it will select Ireland as its regulatory hub in the entire EU region. Currently, Coinbase already has its presence in Ireland holding an office in Dublin since 2018. As of now, Ireland employs nearly 100 people in Ireland. Coinbase has applied...

Through Taproot Assets, Lightning Labs is bringing stablecoins to Bitcoin and Bitcoinizing traditional assets including the dollar. Bitcoin layer-2 infrastructure firm Lightning Labs has officially launched the mainnet of Taproot Assets, a protocol that supports the issuance of stablecoins and real-world assets on the Bitcoin and Lightning networks. According to an official announcement, the mainnet release will support functionality on the Bitcoin blockchain, with support for Lightning...

It was disclosed that FTX customers’ money was spent on business investments, political and charity donations, and real estate. Beleaguered cryptocurrency exchange FTX spent customer’s deposits for business investments, political contributions, charitable donations, real estate, and the buyback of shares from competitor exchange Binance. During a hearing on Wednesday at the ongoing Sam Bankman-Fried (SBF) trial, professor Peter Easton, an accounting officer hired by the US Department of...

TMSC saw their quarterly profits plunge the highest since 2019. However, the company says that the the PC and smartphone market concerns are abating and chip demand is rising again. On Thursday, October 19, the Taiwan Semiconductor Manufacturing Company (TSMC) reported its Q3 2023 numbers with profit standing at 211 billion New Taiwan dollars ($6.69 billion). This was greater than the expected profit of NT$191.43. This has been the largest profit decline since the first quarter of 2019....

Over the last 2 years, there have been a few cuts within the company as part of its goal to “deliver durable savings through improved velocity and efficiency”. Tech giant Google LLC (NASDAQ: GOOGL) has cut at least 40 jobs in its Google News division. According to those familiar with the matter, the reason behind the layoff round is the uncertainty and sensitive time for online platforms and publishers. The exact number of those who lost their job at the Google News unit is not confirmed....

Tesla continues to hold on to its BTC holding having last sold about 75% of it in the second quarter of 2022. It has now been five consecutive quarters that electric vehicle maker Tesla Inc (NASDAQ: TSLA) has left its sizable Bitcoin (BTC) holdings untouched. That is despite recently spending greatly towards improving its artificial intelligence (AI) ambitions and projects. According to Tesla’s Q3 2023 report that was released on Wednesday, the company still has $184 million worth of...