Tag Archives: AA News

One of the leading bitcoin mining companies – Core Scientific – mined 1,356 BTC in November and 1,435 BTC in December. It also boosted its self-mining hashrate from 15.4 EH/s to 15.7 EH/s. The positive performance comes even though the company filed for Chapter 11 bankruptcy protection at the end of December last year. Over 1.4K BTC Mined The US-based firm produced 1,356 and 1,435 self-mined BTC in November and December, respectively, and 795 and 931 bitcoin for colocation...

On January 9, Crypto.com announced the delisting of USDT —the most important stablecoin in the crypto ecosystem— in Canada to comply with the country’s regulations. Several users on Reddit and Twitter reported that Crypto.com sent an email informing Canadian users of the decision. Source: RedditCanadians Must Get Rid of Their USDT Before January 31 According to the statement, users will have until January 31 to withdraw or exchange USDT for any other currency. Failure to do...

Nikhil Wahi – brother to former Coinbase product manager Ishan Wahi – has been sentenced to 10 months in prison following his guilty plea to leveraging his familial connection for insider trading of crypto tokens.  The accomplice will be forced to return the $892,000 he generated in profits from those trades.  “A Terrible Mistake” In July, both Nikhil and Ishan Wahi were arrested on allegations that the latter tipped his brother with information about upcoming Coinbase...

The Office of Foreign Assets Control’s (OFAC) tryst with the crypto industry dates back to 2018 when it designated two Iran-based individuals of malicious cyber activity. There has been no looking back since. More recently, the bombshell announcement that the US Treasury Department banned American citizens from using Tornado Cash, has had industry leaders abuzz. While sanctions did reduce Tornado Cash’s activity, a recent report by Chainalysis shows that it is not easy to...

BlockFi said it plans to disclose assets and liabilities, as well as statements of certain payments made by the platform to insiders and other parties prior to its bankruptcy filing in November. In the latest update, the embattled crypto lending announced it would file both its Schedules of Assets and Liabilities and its Statement of Financial Affairs with the Court on January 11, 2023. “BlockFi looks forward to continuing its open dialogue with the UCC, U.S. Trustee, and all...

Polygon founder Sandeep Nailwal has unveiled the first 13 Web 3 companies to participate in Beacon, his newly launched startup accelerator. The team has confirmed that companies involved in the next cohort will each receive $250,000 in support, for an $8 million post-money valuation.  Fostering Web3 Growth Nailwal announced Beacon’s launch late last year, with the goal of helping Web 3 founder navigate the challenges of the industry. It uses weekly sessions and mentoring to...

Woo Network is a DeFi liquidity provider for institutional platforms and has attracted equity investments from backers like Binance. Revamped Tokenomics for Woo The Woo Network tokenomics revamp involves a series of improvements to its token distribution, the team announced on Monday, (January 10, 2023). These improvements are part of efforts to address issues regarding the current token distribution. Woo’s token revamp will begin with a planned burn of 705 million WOO...

On January 9, reports circulated that the cryptocurrency exchange Huobi Korea announced plans to sever its relationship with its parent company Huobi Global. According to the statement shared by News1, Huobi Korea will change its name to divorce itself from Huobi Global, as they have been facing a lot of problems due to domestic regulations. Huobi Global is a cryptocurrency exchange founded in 2013 by Du Jun and Leon Li, the company’s current CEO. At the time, Huobi was one...

Cryptocurrency projects obtained 42.5% less funding in 2022 compared to what they received in 2021.  Still, last year’s capital was significantly higher than the figures in 2018, 2019, and 2020. Funding in 2022  The crypto winter that hit the digital asset industry in 2022 has triggered a major market decline, an outflow of investor interest, and halted the expansion plans of some companies. According to a CoinGecko study, such firms had raised $21.26 billion last year, and...

Flare – a layer 1 oracle network – has initiated its FLR token airdrop across multiple major exchanges including Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, and BitBank, among others.  With 4.279 billion FLR tokens distributed to millions of users, the airdrop marks one of the most large-scale token distributions in crypto history.  According to a press release, Flare’s initial airdrop represents 15% of the FLR’s total token distribution. It took place at 23:59 UTC on...