Day: January 20, 2023

FTX New CEO Plans to Reboot Distressed Exchange, FTT Climbs 32%

In reaction to the relieving comment by the new FTX boss to reboot the exchange, the FTT token jumped 32% to $2.37. After the sudden FTX crash that resulted in losses for many investors and made several headlines, the new CEO is exploring the possibility of reviving the crypto exchange. FTX trading was one of the 130 businesses that filed bankruptcy under FTX Group, which crumbled under the leadership of Sam Bankman-Fried, known as SBF. SBF had to step down from his role as the CEO amid his legal battle…

FTX-Associated Crypto Bank Moonstone Announces Exit from Crypto Space

Moonstone Bank said that after exiting from the crypto space, it will go back to its original format of being a community bank with major rebranding. The contagion of the collapse of the crypto exchange FTX has far-reaching consequences in the crypto space. On Thursday, January 19, Moonstone Bank announced that it will be exiting the crypto space and will soon return to its “original mission” as a community bank. Moonstone and Crypto In its statement on Thursday, the bank said that as a result of “recent events in the…

Revolut Suspends Launch of Native Token RevCoin, Here’s Why

Revolut is holding off on its token launch to determine the full extent of the damage caused by the FTX crash. Fast-growing fintech Revolut is presently trying to decide the best time to launch its native token RevCoin. Although Revolut has previously hinted that the RevCoin launch date will be this year, a spokesperson confirms that the specificity of the time will be dependent on the firm’s research. The spokesperson wrote in a statement” “We are scoping the market conditions and assessing the best time to launch RevCoin in the…

Bitcoin Hash Rate at Near All-Time High

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The Bitcoin hash rate is trending at near all-time highs, per on-chain data on January 20, 2023. Bitcoin Hash Rate at 274 EH/s According to streams from BitInfoCharts, the Bitcoin network currently has a hash rate of 274 EH/s, up by almost one percent in the past 24 hours. Even at this pace, the hash rate is down from January 16 highs of 302 EH/s. Bitcoin Hash Rate | Source: bitinfocharts.com Hash rate is the measure of computing power dedicated to BTC mining. As a proof-of-work platform, the Bitcoin network depends on…

Empowering people to foster trust in tomorrow’s technological advancements

The ICO is encouraging developers to consider privacy at an early stage when implementing new technologies to maintain public trust and confidence. Our Tech Horizons Report looks at technologies emerging over the next two to five years and warns that the significant benefits they offer could be lost if people feel companies are misusing their data. The report, which follows analysis of key technologies expected to impact society in the future, found businesses must consider transparency, what control people have over their data, and how much data is gathered to…

Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022 – Finance Bitcoin News

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Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the firm remains “focused on providing value-added services for [its] core institutional customers.” Confidence Crisis Less than a month after Silvergate Bank reported a massive drop in customer deposits, the crypto-focused financial institution’s parent firm, Silvergate…

T-Mobile Suffers Data Breach, 37 Million Customers Affected

The full scale of the impact on T-Mobile’s business is not yet clear. Besides, the company is unable to predict how the incident might change its customers’ behaviour. American largest telecommunications company T-Mobile US Inc (NASDAQ: TMUS) is investigating a data breach that has affected as many as 37 million customers. According to the company, the hackers have been stealing the account data, including name, billing address, email, phone number, date of birth, T-Mobile account number, and information such as the number of lines on the account and plan feature, for…

NFT sales topped 101 million in 2022: DappRadar report

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Over the last year, nonfungible tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-term value. A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million. This is a 67.57% increase from the previous year. According to the report, the Ethereum ecosystem holds the top spot in the NFT ecosystem, holding 21% of the market share and over 21.2 million transactions…