Day: January 6, 2023

Crypto Giant DCG Shuts Down HQ Subsidiary amid Global Economic Crisis

DCG once appeared to be untouchable but may fast be losing its stability. Digital Currency Group (DCG) has announced that it is shutting down operations at its wealth management division HQ. According to a report by The Information, DCG is taking such a drastic step due to the prevalent economic situation across the world. To that effect, a spokesperson for the firm released a statement saying: “Due to the state of the broader economic environment and prolonged crypto winter presenting significant headwinds to the industry, we made the decision to…

US With Highest Number of Closed Bitcoin ATMs in Negative Growth Year – Bitcoin News

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The number of ATMs supporting digital currencies has fallen around the world over the course of a turbulent year for the whole industry. According to a new report, the United States has lost more machines offering crypto teller services than any other country, while Australia tops the chart in terms of new installations. 2022 Ends With Fewer Crypto ATMs Globally, US Removes Almost 200 Devices Automated teller machines (ATMs) allowing users to purchase cryptocurrencies or exchange coins for fiat have decreased in number in the past year. According to data…

NY Attorney General Sues Former Celsius Network CEO for Defrauding Clients

New York’s state attorney general Letitia James revealed on Twitter that she is suing the former Celsius Network head for defrauding investors out of billions of dollars. Who would have thought that the once-upon-a-buzzing crypto industry would have to fight so many legal battles? While former FTX CEO Sam Bankman-Fried is still making headlines amid his court cases, Celsius Network CEO Alex Mashinsky has been sued for defrauding investors. Celsius Network filed for Chapter 11 bankruptcy in July 2022, saying it would help the company stabilize and develop a restructuring plan.…

Security Audit Completed by Certik – Press release Bitcoin News

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press release PRESS RELEASE. Dubai, UNITED ARAB EMIRATES, January 2023, Undeads Metaverse announces the completion of its smart contracts’ security audit conducted by Certik, which included a comprehensive multi-level assessment of Undeads Metaverse in-game smart contracts and product functionality. The focus of the audit was to verify that the smart contract system is secure, resilient and working according to its specifications. Certik is considered one of the top auditors in the world and is a pioneer in blockchain security, utilizing best-in-class Formal Verification and AI technology to secure and monitor…

Mt.Gox repayment registration deadline moved to March 2023

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Mt. Gox creditors will have more time to decide on which repayment method they want to be paid in and register their payee information at the defunct crypto exchange.  In an announcement dated Jan. 6, Mt. Gox trustee Nobuaki Kobayashi stated that the previously announced deadline for repayment selection which was on Jan. 10, has now been moved to Mar. 10 citing the “progress by rehabilitation creditors” in the selection and registration as a reason for the change in deadline. The announcement also urged creditors to complete the necessary steps…

Ethereum Investors Gain 4.5% in Weekly Timescale As Shanghai Upgrade Nears

Ethereum, the king altcoin, has been generating a lot of buzz lately. According to CoinGecko, the coin appreciated by 4.5% in the weekly timescale. This is because of the upcoming “Shanghai” upgrade which is expected to improve the overall usability of Ether’s Layer 1 chain.  The term “Layer 1” describes the fundamental components of a network. Transactions on L1 blockchains do not require the involvement of any additional networks for verification or settlement. Image: Gfinity Esports The Gist Of The Upgrade After the widely-recognized switch from Proof-of-Work to Proof-of-Stake consensus…

USDD Stablecoin Faces Possible Collapse Amid Huobi Insolvency Rumors

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The bear market deepens as negative news and FUD keep popping up. The latest on the list of fear-causing information is Justin Sun’s USDD stablecoin and popular crypto exchange Huobi.  Mike Alfred, an investor serving as a board member of BTC miner Iris Energy and digital asset investment platform Eaglebrook Advisors, earlier today voiced out some warnings on USDD stablecoin and Huobi Exchange.  According to Alfred, Justin Sun shadow owns Huobi, and he is perhaps the “most erratic billionaire in crypto.” Justin has been sending a handful of billions of…