Tag Archives: AA News

Deutsche Bank AG’s asset management arm, DWS Group, is currently in talks with two German cryptocurrency firms over minority stake acquisitions. The investment is part of DWS’s efforts to revive growth and investor confidence, Bloomberg reported Wednesday, citing people familiar with the matter. DWS Group to Invest in Two Crypto Firms As per the report, DWS Group’s CEO Stefan Hoops plans to invest in Frankfurt-based crypto exchange-traded products provider Deutsche Digital...

Disgraced crypto VC Zhu Su has officially announced his next project: “Open Exchange” – a crypto marketplace for claims and derivatives trading.  The company is intended to help investors who lost money in 2022’s wave of industry bankruptcies – though crypto Twitter isn’t exactly enthusiastic about the idea. Rebuilding Crypto Per a Twitter thread from Su on Thursday, the exchange is being built using “all the pain/lessons” learned from the team’s experience last year. Su’s...

The opaque and intriguing ownership of the Indian crypto exchange WazirX continues to baffle investors and crypto honchos alike. Over the past two weeks, Binance and WazirX top executives once again came to blows over the issue. In August 2022, Binance CEO Changpeng Zhoa and WazirX CEO Nischal Shetty publicly accused each other of lying about the latter’s ownership. WazirX Threatens Binance With Legal Action In the latest, WazirX described the allegations made by Binance’s...

Marc Andreessen – founding partner of the tech-focused VC giant Andreessen Horowitz (a16z) – is now more bullish on Ethereum and Web 3 than he is on Bitcoin, contrary to his outlook in 2014. During an interview with ReasonTV published on Wednesday, the venture capitalist discussed the future of crypto adoption and regulation, alongside the role of Bitcoin as money.  Crypto, Not Bitcoin According to Andreessen, crypto and Web3 represent “the other half of the internet,”...

Tether Holdings Limited – the company behind the largest stablecoin USDT – revealed a net profit of around $700 million in the fourth quarter of 2022. It ended last year with excess reserves of $960 million and at least $67 million billion in consolidated total assets. Tether Remained Unfazed by the Bear Market Even though 2022 devastated the entire cryptocurrency sector, Tether’s net profits increased by over $700 million in Q4. It reduced its secured loans by $300 million...

Coin Cloud, one of the largest Bitcoin ATM operators in the US and Brazil, filed for bankruptcy this January 8, leaving nearly $500 million in liabilities. The crypto winter and the collapse of major companies like FTX, Alameda Research, and Blockfi, among others, has left Coin Cloud suffering from its aftermath. According to Coin Cloud’s filings, its largest creditor would be Genesis Global Trading, a subsidiary of Digital Currency Group, to whom the company owes more than...

Trust Wallet – a multi-chain crypto wallet provider – provided a statement on Wednesday explaining recent events allowing for $4 million to be stolen from one of its users.  The company chalked the theft’s cause up to a social engineering attack by an organized crime unit in Rome, rather than a flaw in its software.  On Monday, rumors began to circulate about a Trust Wallet user who lost $4 million in funds to a scammer who had merely taken a picture of the user’s balance. No...

Cryptocurrency exchanges will supposedly not promote their products and services during Super Bowl LVII this Sunday (February 12). The bear market in 2022 shook the industry to its core, wiping out close to $2 trillion and causing multiple bankruptcies. One of the most active advertisers at last year’s Super Bowl was FTX, whose demise in November still echoes across the industry.  From ‘Crypto Bowl’ to No Ads at All The most anticipated event in the National Football League...

The US-based cryptocurrency miner TeraWulf produced 157 BTC in January, a 25.6% increase compared to December.  Snow blizzards towards the end of 2022 crippled its operations and increased electricity bills. The weather normalized in January, hence the better production results. Expansion Plans for 2023 TeraWulf boosted its mining activities with an increased number of machinery last month. It received 6,100 miners from Bitmain, bringing the total to 18,000. Additional 15,900...

Binance, the biggest exchange in crypto, seeks to revive trust in the industry after an onslaught of hacks and scams that ravaged its reputation last year.  The company is helping bring together a consortium of fellow businesses intent on proving how well the space can cooperate with regulators. Bringing Back Trust As reported by CoinDesk, the consortium already includes multiple companies, spanning from individual projects, to exchanges, to blockchain analytics firms. Its...