Day: December 8, 2022

DeFiChain’s Much Anticipated ‘Grand Central’ Hard Fork Goes Live

Place/Date: Singapore – December 8th, 2022 at 3:32 pm UTC · 4 min read Contact: Benjamin Rauch, Source: DeFiChain DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications to everyone, has officially activated the much-anticipated Grand Central hard fork on its network at 01 AM EST on Thursday, December 8th on Block Height 2,479,000. The Grand Central hard fork is one of the biggest and most monumental updates for DeFiChain in 2022. It marks the rollout of four main features: On-chain governance Token consortium…

Drones, Fertility, and Defi — A Look at Alameda Research’s Massive $5.4 Billion Portfolio of Investments – Bitcoin News

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Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds of investments. Some of the funds went to odd investments like a fertility company called Ivy Natal and a drone manufacturer called Brinc Drones. Alameda Invested in Close to 500 Firms and Projects During the last two years, FTX and Alameda Research spent billions on…

Elon Musk Loses Title of World’s Richest Person Briefly to Louis Vuitton CEO but Regains It

Elon Musk briefly ranked second on the “world’s richest person” list on Wednesday after suffering a dip in net worth.  On Wednesday, Elon Musk briefly ceded his position as the world’s richest person to LVMH Moët Hennessy Louis Vuitton CEO Bernard Arnault. According to Forbes, Musk temporarily lost the “world’s richest” title after a substantial drop in his Tesla (NASDAQ: TSLA) value. In addition, Forbes also stated that the Tesla CEO sustained a personal net worth drawdown following his $44 billion acquisition of Twitter. Although Arnault initially supplanted Musk at the top of the billionaire’s index, the Tesla CEO, and…

How do crypto hardware wallet firms make money?

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The hardware wallet industry has emerged as one of the most resilient sectors to the ongoing cryptocurrency winter, with issues like the FTX crash bringing in even more cold wallet sales. The bear market of 2022 has once again reminded crypto investors of the importance of self-custody and independence from centralized exchanges (CEX). As a result, some major CEXs like Binance has increased their investment exposure to hard wallet firms, while CEO Changpeng Zhao even suggested that CEXs may no longer be necessary in the future. Should it be the…

Newlyweds lose funds in FTX exchange a day after their wedding

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While it’s undeniable that companies were significantly affected by the FTX debacle, retail investors like Jaime Zulueta – who recently just got married – also bore the burden of trusting a trading platform that ended up collapsing to oblivion.  Speaking to Cointelegraph, Zulueta told the story of how he and his wife dealt with the challenge of losing some of their investments right after their wedding. According to the crypto investor, he first found out about the exchange because it was popular in Taiwan, his partner’s home country. “Prior to…

Elon Musk’s Bankers Considering New Tesla-Backed Margin Loans to Slash Twitter Debt

Banks had to fund the whole debt package with their own cash due to a decline in the credit markets. According to people familiar with the matter, Elon Musk’s bankers are considering providing new margin loans backed by Tesla Inc (NASDAQ: TSLA) stock to the billionaire in order to cut risky Twitter debt. The bankers are reportedly exploring new margin loans to replace the high-interest debt Elon accrued from the Twitter deal. The bank group, led by financial services company Morgan Stanley (NYSE: MS), have been weighing suitable options for…

Inside South Korea’s wild plan to dominate the metaverse – Cointelegraph Magazine

“Many years ago, it was AI. Now, it’s metaverse,” he says. “From the government’s perspective, […] as long as you don’t have a coin itself, they’re willing to support a lot of these new technologies” — Doo Wan Nam from StableNode South Korea: The land of the metaverse If you had to pick the one country that’s most primed to take advantage of the opportunities offered by the metaverse, South Korea would be high on the list.  It’s a technology-obsessed country that eagerly adopts new products, where 98% of people…

SMBC to Trial Soulbound Tokens in Conjunction with HashPort

Japan’s SMBC seeks to run trials for soulbound tokens as the banking giant looks to steepen its foothold in Web3. Japanese banking powerhouse Sumitomo Mitsui Banking Corporation (SMBC) recently announced plans to focus on Web3 soulbound tokens. The prominent East Asian bank intends to leverage its existing relationship with blockchain startup HashPort to achieve this Web3 goal. SMBC said that it would conduct a trial of the soulbound tokens (SBTs) for identity verification through its HashPort partnership. According to the Japanese bank, this joint venture with HashPort would create a “safe and…

Marathon Digital Looking to Place Bid for Compute North

Compute North, prior to its bankruptcy, served as the biggest hosting provider that Marathon Digital partnered with. American cryptocurrency mining outfit Marathon Digital Holdings Inc (NASDAQ: MARA) is exploring options to acquire its bankrupt sister firm, Compute North Holdings. According to Marathon’s Chief Executive Officer, Fred Thiel, the company has hired restructuring specialists to help estimate the extent of its exposure to Compute North and to explore the firm’s chances of acquiring the distressed firm. Thiel said the company has hired Guggenheim Partners and law firm Weil Gotshal & Manges…