Crypto news

The launch of the exchange project, OPNX, earlier this week managed to attract significant backlash from the community. A new development has emerged regarding the funds received for the development of OPNX, which is backed by the founders of the bankrupt hedge fund Three Arrows Capital (3AC). BitMEX’s Arthur Hayes cited an anonymous source and claimed that the founders of the controversial project, Zhu Su and Kyle Davies, received a “lot of money” from the sovereign wealth...

Residents of Egypt are angry after being taken advantage of and falling victim to a cryptocurrency scam last August known as Hogg Pool. Hogg Pool Was Probably Never Real A promotional video for the company said it was founded in the year 2019 in the state of Colorado, though regulators believe this is false information. It was touted as a presenter of crypto and blockchain technology investments. Plans through the company allowing customers to invest their cash and...

The past seven days saw the broader cryptocurrency market cool down a bit, with some of the previous week’s leaders also taking a breather. Namely, Ripple’s XRP was unable to sustain the major gains it posted seven days ago and is lost around 5% throughout this week. It could just be setting itself up for another leg up, though. Let’s dive in. The total cryptocurrency market cap is down about $15 billion in the past seven days, which is indicative of it cooling down. BTC was...

On Friday, the Labor Department reported a March job growth that is way off February’s upwardly revised figure of 326,000. US job growth amounted to 236,000 for March amid slowing signs in the labor market. The figure puts the Labor Department’s Friday payroll growth report close to the Dow Jones estimate of 238,000 for March. However, the total job growth of 236,000 sits substantially below February’s upwardly revised figure of 326,000. The March job growth report revealed that the...

The University of California in San Diego has been gifted $15 million in crypto by the Balvi Filantropic Fund, run by Ethereum co-founder Vitalik Buterin. It’s easily one of the largest digital currency donations to ever be made to a school. The money will be put towards a program in which the school will perform research on aerosols. UC San Diego Is Getting a Lot of Crypto Funds Buterin mentioned in a statement: Over the last several years, it has become abundantly...

In the push to launch its own version of ChatGPT, Alibaba Cloud will need to take in account the impact of regulations in China and the influence of competitors. Alibaba Cloud, one of the major subsidiaries of Chinese multinational tech giant Alibaba Group Holdings Ltd (HKG: 9988), is reportedly set to launch its own ChatGPT rival in what has become a major frenzy in today’s tech world. As reported by Bloomberg, Alibaba Cloud has been sending invitation codes to some of its corporate...

Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon. South Korea officials continue to grill former Terraform Labs co-founder Kwon Do-Hyung, popularly known as Do Kwon, following his arrest earlier last month in Montenegro as he attempted to flee to Dubai. The collapse of Terra Luna and its algorithmic stablecoin UST led to a loss of over $40 billion from the crypto market. As a result, the entire cryptocurrency...

Arthur Hayes says Maelstrom is “patient” and is currently only seeking to invest in projects that can prove their worth. Erstwhile BitMex CEO Arthur Hayes plans to beat returns offered by Bitcoin (BTC) and Ether (ETH). Together with former BitMex head of corporate development Akshat Vaidya, Arthur Hayes founded Maelstrom Capital, a fund they plan would considerably outperform the top two largest cryptocurrencies by market cap. The Maelstrom website describes the company as Arthur Hayes’...

The infamous hack of the Mt. Gox crypto exchange in 2014 saw it lose 850,000 Bitcoin (BTC) overnight. The situation around repaying creditors of the defunct Mt. Gox cryptocurrency exchange has reached yet another chapter. This follows after the just concluded registration exercise where clients who lost funds to the famous Mt. Gox hack were asked to come forward with their repayment information. In its most recent statement,  the exchange has confirmed that the time for registration has...

Samsung attributed its low performance to the sliding demands from consumers that have a largely limited supply of its advanced chip technology. South Korean multinational technology giant Samsung Electronics Co Ltd (KRX: 005930) has revealed its plans to cut its chip production after reporting one of the worst quarters in more than a decade. According to the release on Friday, the company posted a total of 63 trillion won in revenue and 600 billion won in operating profit for the first...