Tag Archives: AA News

The Winklevoss-led crypto exchange Gemini announced it has started the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE). As part of its global expansion plans, Gemini revealed engaging with stakeholders throughout the region to learn more about local regulatory requirements and the needs of UAE crypto investors. In other exchange-related news, Crypto.com said it had acquired a Major Payment Institution license for Digital...

Sustainability-focused Bitcoin mining firm CleanSpark is expanding its ASIC fleet by 12,500 units after investing $40.5 million into new hardware.  The added equipment is projected to bring CleanSpark’s total hash rate to over 16 exahashes per second (EH/s).  CleanSpark’s Mining Discount According to a press release from CleanSpark on Thursday, the firm’s newly purchased fleet of Antminer S19 XP machines worked out to a cost of $23 per terahash ($/TH).  Data from Hashrate...

OPNX – the crypto bankruptcy claims exchange launched by Su Zhu and Kyle Davies – released a whitepaper for its new ‘OX’ governance token on Wednesday. Details around the coin’s tokenomics caused the price of FLEX – the platform’s existing native token – to spike on the day. OPNX, FLEX, and OX Following the reveal, FLEX trades for $1.14 at writing time, up 19% from $0.96 24 hours ago, and from $0.75 a week ago, according to CoinMarketCap. By contrast, CoinGecko reflects a...

The cryptocurrency market has boomed over the past decade, with many tokens boasting billion-dollar valuations. With such exponential growth in the market, many would expect many of the thousands of tokens to fail or continually drop in value, but that rarely happens, especially amongst the top 100 tokens. The value of some of these tokens is controlled with the help of burning tokens. Since the beginning  of crypto, many projects have adopted this mechanism to induce...

Tether (USDT), the world’s largest stablecoin, achieved a groundbreaking milestone by surpassing its previous all-time high market cap of $83.2 billion, a record set back in May 2022. This remarkable feat further cements Tether’s unrivaled dominance in the rapidly expanding stablecoin market, which currently totals an astonishing $130 billion, with USDT’s market cap surpassing the combined value of its closest competitors. USDT Breaks 2022 Market Cap ATH According to a blog...

Bitcoin’s network fundamentals have continued to explode this year. The price side of things, however, has been disappointing recently. With its stagnating since mid-March, concerns about possible downside targets stretching toward $20,000 have emerged. Despite some encouraging signs in recent months, Bitcoin’s latest retreat dragged its price below $27,000. Bitcoin’s Key Support Areas As the world’s largest cryptocurrency remained trapped in a narrow range below $30k,...

Historically high-interest rates in the United States could “exacerbate” stress in an already shaky banking system, said a member of the Federal Reserve’s Board of Governors on Wednesday.  The governor also hinted that the central bank might decide not to raise its benchmark interest rate at the next Federal Open Markets Committee (FOMC) meeting, which could have implications for Bitcoin’s price. Rising Rates and Mounting Debt Fed Governor Philip N. Jefferson remarked on the...

Blockchain data analytics firm Nansen Research is slashing its workforce by 30%. Layoffs have been widespread across crypto businesses in the past year. Following the latest move, Nansen joins the growing list of companies such as Coinbase, Blockchain.com, ConsenSys, Gemini, Huobi Polygon Labs, Elliptic, Messari, Dapper Labs, Chainalysis, Immutable, etc., which have trimmed their staff amid heightened crypto winter. Nansen Layoff CEO Alex Svanevik announced on Twitter the...

Popular cryptocurrency exchange Bybit announced it will be exiting the Canadian market, citing recent regulatory developments in the country as the reason behind its decision. The move follows similar decisions made by other exchanges that ceased operations in the North American nation. Starting May 31, new account openings will be unavailable, while existing customers will have until July 31 to make further deposits and enter into new contracts. The company also promised...

Binance – the world’s largest cryptocurrency exchange – has confirmed that its “reevaluating” its talent base following an external report that the firm plans to lay off roughly 20% of its workforce next month.  The report presents a stark contrast to Binance’s position of strength last year, having stood out among industry leaders for continuing to expand during the bear market.  Binance to Cut Workers On Wednesday, popular Chinese crypto reporter Colin Wu said he’d...