Robert McDonald, a co-accused, avoided extradition on human rights grounds. McDonald is the prime carer for his “extremely ill” wife and has expressed “clear and genuine suicidal intent, in the event he were to be extradited,” according to the judgment cited in the Law360 report. The judge also stated that “there is no apparent evidence of monetary gain by Robert MacDonald.” Source
Just when the global economy largely recovered from the crippling effects of the COVID-19 pandemic, geopolitical tensions and the resultant supply chain pressures have once again roiled financial markets across the world. Furthermore, inflation has once again reared its ugly head, forcing central banks across major economies to raise interest rates in an attempt to curtail runaway prices of essential commodities like food and fuel. Despite these efforts, developed economies like the United States and the United Kingdom continue to report inflation at multi-year highs, adding even more stress on…
Shah, the former head of asset management sales at JPMorgan and a 12-year veteran at the bank, joined Pantera at the start of July, CoinDesk reported. He said at the time he was “excited to partner with Dan Morehead, Joey Krug and the broader Pantera team to help take the organization to new heights!” Source
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Web3-focused startup Contribution Labs has raised $3 million through an equity sale. Alchemy-backed Contribution Labs is a California-based technology company in stealth mode. The company was founded in January 2022 by Catherine Chang, a former product manager at software company Atlassian, and Kei Yoshikoshi, a former engineer at Microsoft’s Azure blockchain. Contribution Labs has raised $2,425,000 from two investors since the offering began on Aug 15, according to a filing with the U.S. Securities and Exchange Commission (SEC). Unlike traditional financing methods, this fundraising involved a simple future equity agreement,…
South Korea’s second-largest city Busan has announced a partnership with crypto trading platform FTX to build a local crypto exchange and foster blockchain development. Sam Bankman-Fried’s FTX will assist in creating the Busan Digital Asset Exchange as per an official statement from the Busan Metropolitan City on Aug. 30. The Bahamian-based firm will also support the city in fostering the growth of the local blockchain industry. Busan City will make use of FTX’s technology and infrastructure to establish its own cryptocurrency exchange. FTX is also set to be involved in promoting…
What’s “The Merge”? The merge is when Ethereum transitions from proof-of-work (PoW) to proof-of-stake (PoS). This will end ETH mining, reducing 99% of its power usage But that’s not all the merge will do. Will it Lower Gas Fees? Gas fees are caused by network demand. Switching to PoS has little impact on demand so gas fees won’t change. This means Layer2 solutions are still needed post-merge and there is a lot of great L2s to invest in! So, Why Merge? ETHs overall goal is to become…
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Data from on-chain monitoring resource BTC.com confirms that on Aug. 31, Bitcoin’s network difficulty hit new all-time highs. Bitcoin seals biggest difficulty jum since start of 2022 Despite the recent BTC price drawdowns, Bitcoin’s network fundamentals are telling an optimistic tale as August comes to a close. Both difficulty and hash rate are climbing, reflecting conviction among miners over long-term profitability of their network participation. It also suggests that the mining sector is absorbing lower profits versus costs in the short term. Difficulty, which added 9.26% at its Aug. 31…
El Zonte, a beach in El Salvador rebaptized as “Bitcoin Beach” due to its adoption of the cryptocurrency, will receive infrastructure investments as part of a strategic plan of the government of El Salvador. Surf City, another beach location in the La Libertad region, will also receive road improvements and other upgrades. ‘Bitcoin Beach’ to Benefit From Infrastructure Investments Bitcoin Beach, a beach in El Zonte, El Salvador, is getting a set of infrastructure upgrades from the country’s government. The beach is iconic due to its adoption of…