Day: December 28, 2022

Midas Investments close down amid $63M DeFi portfolio deficit

boss

Custodial CeDeFi investment platform Midas will close down its operations because of a $63.3 million deficit in its decentralized finance (DeFi) portfolio.  In an announcement, the company’s founder and CEO Iakov Levin also known as “Trevor” wrote that the move is partly because the fund’s DeFi portfolio lost $50 million, which is 20% of its $250 million assets under management (AUM). In addition, Levin also highlighted that the collapse of the Terra, FTX exchange and Celsius contributed to their struggles. The Midas founder noted that their users withdrew 60% of…

Daily Crypto Trading Volume at Multi-Year Low as Total Market Cap Falls below $800B

The cryptocurrency industry is expected to be trapped in the ongoing bear market in 2023. The cryptocurrency market has significantly shrunk in 2022, with over $2.2 trillion liquidated in the past twelve months. According to aggregate data from the block, the daily crypto spot trading volume on all exchanges has dipped below $10 billion for the first time since December 2020. The Terra Luna and FTX collapse are the largest contributors to the 2022 crypto bear market aside from other macroeconomic factors. As of Wednesday, December 28, the total cryptocurrency…

Crypto exchange Kraken to close Japan operations after mass job cuts

boss

Kraken is one of the world’s largest crypto exchanges. Tiffany Hagler-Geard | Bloomberg via Getty Images Digital currency exchange Kraken will close down its operations in Japan next month, in another sign of consolidation in the battered crypto industry. In a blogpost on Wednesday, Kraken said it would cease crypto trading services through its Japanese subsidiary, Payward Asia, and deregister from Japan’s Financial Services Agency on Jan. 31, 2023. It is the second time Kraken has left the Japanese market. The first was in 2018, when it closed four years…

Snowfall Protocol (SNW) Shines Bright with a 400% Gain as International Chess Federation Moves to Web3 with Avalanche (AVAX), and Cosmos (ATOM) Drops 0.60%

Place/Date: – December 28th, 2022 at 11:14 am UTC · 4 min read Source: Snowfall Protocol Photo: Snowfall Protocol The cryptocurrency market is constantly fluctuating, with different coins experiencing ups and downs. In recent news, the International Chess Federation (ICF) announced its move to Web3 technology in a partnership with Avalanche (AVAX). Meanwhile, Cosmos (ATOM) has continued to struggle, with a drop of 0.60% in its market value. On the other hand, Snowfall Protocol (SNW) has stood out with a 400% gain, making it a bright spot in the cryptocurrency…

Kraken to Stop Operations in Japan by January

Pulling out of the Japanese market is the latest of Kraken’s moves to cut costs and service the weak crypto market. For a second time, Kraken has announced it will stop its operations in Japan, even as it looks to cut costs amid a weak global crypto market. Kraken announced this via a blog post on its website. It said: “Current market conditions in Japan in combination with a weak crypto market globally mean the resources needed to further grow our business in Japan aren’t justified at this time.” According…

Kaspersky Forewarns of New Malware Scheme by Lazarus Group Affiliate BlueNoroff

Kaspersky recently reported that a Lazarus affiliate might enhance its sophisticated malware attacks on crypto startups in 2023. According to cybersecurity firm Kaspersky, a North Korean-state-sponsored group of hackers called Lazarus Group has started a new malware-spreading scheme. Kaspersky recently released a new report which alleges that Lazarus now poses as venture capitalist firms to spread malware. The security researchers also stated that BlueNoroff, the group linked with Lazarus, can use the malware to circumvent Mark-of-the-Web (MOTW) security measures. With its venture capitalist façade, BlueNoroff operates under the pretext of…

Japanese Gaming Company Gumi Partners With Square Enix and SBI Holdings to Strengthen Metaverse Pivot – Metaverse Bitcoin News

boss

Gumi, a Japanese mobile gaming company, has partnered with Square Enix and SBI Holdings to build new business opportunities around the metaverse. The deal, which also includes the issuance of new stock valued at $52.7 million dollars, will allow the company to acquire financial and content creation experience. Gumi Raises $52.7 Million in Metaverse-Driven Alliance More and more gaming companies are looking to include metaverse elements in their games. Gumi, a Japanese gaming company focused on mobile entertainment, has announced a capital and business alliance with Square Enix, another Japan-based…

SBF wants ‘Big Short’ FTX movie, Peter Schiff already calls it fiction

boss

Members of the crypto community published their sentiments on social media in response to the former FTX CEO Sam Bankman-Fried’s reportedly meeting with Michael Lewis, the writer of the popular trading-focused film, The Big Short.  With a potential blockbuster film seemingly on the way, community members called out Bankman-Fried’s antics, from describing the meeting as “absurd” to saying that Lewis should also be investigated. In a tweet, a community member mentioned that this could be an attempt to cover for criminals and “control the narrative” through a book. Meanwhile, Bitcoin…

Shark And Whale Addresses Hit 2-Year High

boss

On-chain data shows the combined Litecoin address count of sharks and whales is now at a 2-year high, a signal that could be bullish for the asset’s value. Litecoin Addresses Holding More Than 1,000 LTC Now At Highest Level Since 2020 As per data from the on-chain analytics firm Santiment, LTC has been climbing strongly since the population of these large addresses began to rise. The relevant indicator here is the “Litecoin Supply Distribution,” which tells us how many addresses (or holders) belong to each wallet group in the market…