Tag Archives: AA News

The U.S. Department of Justice released a statement on September 12 reporting that Nikhil Wahi, brother of ex-Coinbase product manager Ishan Wahi, pleaded guilty to committing cryptocurrency wire fraud using insider information sourced from his brother. Per the release, Nikhil Wahi faces up to 20 years of possible jail time. In addition, he will have to forfeit all unlawfully obtained monetary gains. Ishan Wahi, on the other hand, pleaded not guilty in early August to the...

The main opposition party in Canada – the Conservative Party – elected Pierre Poilievre as its new leader. Interestingly, the 43-year-old politician has displayed he is a keen supporter of bitcoin and a critic of the central bank, which allegedly worsened the inflationary environment in the country. Earlier this year, thousands of Canadians protested against the government’s pandemic restrictions. To fight the unrest, Justin Trudeau’s administration requested financial...

The asset management firm Fidelity is reportedly weighing plans to bring Bitcoin trading to individual investors on its brokerage platform.  If true, this would give 34.4 million retail customers at Fidelity access to the largest cryptocurrency by market cap.  Fidelity’s Next Bitcoin Foray The claim is according to people familiar with the matter who were contacted by the Wall Street Journal.  It was also predicted by Galaxy Digital CEO Mike Novogratz, who said that...

The non-profit organization behind the development of the Algorand blockchain infrastructure – Algorand Foundation – has confirmed a $35 million USDC exposure to Hodlnaut. Additionally, it said it is pursuing all legal remedies to maximize asset recovery from the embattled crypto lender. Despite the hole in the balance sheet, the organization does not expect to trigger any operational or liquidity concerns. The Algorand Foundation, in an official announcement, said these...

Ethereum’s pending transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) can trigger new risks for the troubled crypto lender – Hodlnaut. The Singapore-based company was one of several firms in the crypto industry that succumbed to the pressures of the downturn after the collapse of Terra ecosystem tokens. According to a new report, Hodlnaut has warned of risks to its assets if the Merge fuels a “bout of volatility in virtual coins.” As such, sudden price movements in...

Sam Padilla – a Web3 Customer Engineer at Google – said the world’s largest search engine launched a countdown clock that shows when exactly Ethereum’s Merge will be complete. The second-biggest cryptocurrency protocol is on its way to shifting from Proof-of-Work (PoW) to Proof-of-Stake (PoS), something unseen in the industry so far. The move is expected to be finalized on September 15. Ethereum’s shift to PoS, known as “the Merge,” has gathered significant attention as many...

Starbucks – the world-renowned coffee house chain – is taking its first steps into the world of web 3. In partnership with Polygon, the company is building a blockchain-based loyalty program called Starbucks Odyssey, allowing members to purchase non-fungible tokens (NFTs) representing digital collectible stamps. Starbucks to Integrate NFTs As announced by Starbucks on Monday, the new program will be available to members of the existing Starbucks Rewards loyalty program, and...

According to a report by the data acquisition and analysis company DappRadar, Web3-based games and Metaverse projects raised $748 million since August 1, 2022. Last month, on average, 847,000 daily Unique Active Wallets (UAW) interacted with blockchain games, an 11% decline compared to July. One of the most popular games in the field – Axie Infinity – surpassed $4 billion in all-time NFT sales, while approximately 36,000 additional people joined as daily players in the past...

The Las Vegas-based cryptocurrency miner – Marathon Digital Holdings – steadily improved its bitcoin production levels in August, mining 184 BTC. It also successfully energized 25,000 of its previously installed miners. The process increased the hash rate to nearly 3.2 exahashes per second. Over the next three months, the company expects to activate 65,000 additional miners and thus reach a computing power of 6.9 EH/s. Marathon Makes a Progress One of the biggest crypto...

The cryptocurrency ranking and evaluation platform – CoinGecko – examined global Google trends to determine which nation is the most excited about Ethereum’s upcoming transition from Proof-of-Work consensus mechanism to Proof-of-Stake. Per the results, Singapore ranks first, while Switzerland and Canada share the second position. Third is the largest economy in the European Union – Germany. ‘Anticipation for the Merge is at an ATH’ The second-biggest cryptocurrency protocol –...