Tag Archives: News

WOO co-founder Jack Tan said the repurchase allows the company to move on “without further distractions from the 3AC fallout”. WOO Network has announced its decision to repurchase shares and tokens it sold to defunct Singaporean hedge fund Three Arrows Capital (3AC) back in 2021. The Taiwan-based trading platform and liquidity provider said in a press release that it has reached an agreement with Teneo, 3AC’s liquidator. The press release states that WOO has agreed to cancel the shares 3AC...

The move signals a major stride on the part of JPMorgan as it intensifies its efforts towards boosting the commercial applications of blockchain technology. United States’ largest bank by assets, JPMorgan Chase & Co may have started using its blockchain-based collateral settlement for customers. This follows after a recent transaction between BlackRock Inc and Barclays Plc saw the duo use JPMorgan’s Tokenized Collateral Network (TCN) to effect the trade. According to Tyrone Lobban,...

The proposal outlines a deal that encompasses roughly 9% of iFinex’s outstanding capital and assigns a value of $1.7 billion to the company. As per the latest report, the parent firm of the Bitfinex exchange – iFinex Inc – has started exploring a $150 million share buyback, as per the letter written to shareholders on September 22. The directors of iFinex have proposed an offer of $10 per share for 15 million shares. The document notes that a group of directors within iFinex and its...

To enhance profitability and mitigate the impact of cyclical downturns, Samsung is focusing on advanced memory chips, particularly high bandwidth memory chips that are crucial for AI servers and processors.  Samsung Electronics, the South Korean tech giant, released its preliminary earnings guidance for the third quarter (Q3 2023), indicating a notable 77.9% drop in operating profit compared to last year. According to the company, the decrease in profitability is primarily attributed to...

The reason behind the decision to leave the Canadian market was not revealed by Bitstamp. Notably, the exchange follows Binance, OKX, and Bybit which announced their exit from Canada earlier. Luxembourg-based crypto exchange Bitstamp is planning to stop providing services in the Canadian market in January 2024. The deadline for withdrawing customers’ funds is January 8. Afterward, Bitstamp will deactivate Canadian users’ accounts. The announcement was shared by Bobby Zagotta, Bitstamp’s US...

Solana price started a decent increase above the $22.00 resistance against the US Dollar. The price is now trading below $23.50 and the 55 simple moving average (4 hours). There is a key declining channel forming with resistance near $23.40 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair must stay above the $21.50 and $20.40 support levels to start another increase. Solana price is trading above the $20 support against the US Dollar,...

Bitcoin price started a fresh decline from the $28,500 zone against the US Dollar. The price is now trading below $27,700 and the 55 simple moving average (4 hours). There was a break below a key contracting triangle with support near $27,750 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could start a fresh increase if it stays above the $26,500 support zone. Bitcoin price is declining below $28,500 against the US Dollar. BTC might...

In a bid to showcase how serious the Neutron project has become, more than 190 million ATOM tokens have been staked through the CosmWasm platform. Leading cryptocurrency exchange by Bitcoin balance and registered global users with KYC, Binance, has announced that Neutron (NTRN), a cross-chain smart-contracting platform, will be available for spot and margin trading with a seed tag. According to the announcement, the NTRN token spot trading will be available for select Binance users...

Saudi Arabia and Chinese universities to work on AceGPT, an Arabic-focused AI system based on Meta’s LlaMA2, designed as an AI assistant for Arabic speakers. Every big country on the planet has been spearheading efforts to build new artificial intelligence (AI) systems. Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) has joined forces with two Chinese universities to create an Arabic-focused artificial intelligence (AI) system. This large language model (LLM),...

Subsquid’s integration with Flare paves the way for greater innovation and collaboration in the blockchain ecosystem. Flare Network, an EVM smart contract platform, has announced its collaboration with Subsquid,  a full-stack blockchain indexing solution to make historical data stored on the Flare blockchain readily available to developers utilizing the Subsquid network. Subsquid: A Game-Changer for Blockchain Data Access Subsquid is a full-stack blockchain indexing solution equipped with...