Day: January 20, 2023

Bitcoin mining in a university dorm: A cooler BTC story

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The humble university dorm is a place for students taking their undergraduate degrees to study, rest, make new friends, host wild dorm parties and, of course, mine Bitcoin (BTC).  A master’s student in market research and self-described “data guy,” Blake Kaufman, has hooked up an S9 Bitcoin miner to the Bitcoin network. He won the S9 miner in a raffle at a mid-Michigan Bitcoin meetup and immediately set about learning how to use it. Blake has consistently shown up to every https://t.co/2Q6OuIwW4O event with at least one friend, a tremendous…

Dogecoin Rival Shiba Inu (SHIB) Continues Price Surge This Week Amid New Listing on Top South Korean Exchange

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Dogecoin (DOGE) rival Shiba Inu (SHIB) is continuing its 2023 price surge this week as it gets a listing on South Korea’s top crypto exchange by trading volume. The Seoul-based Upbit, which registered more trading volume than any other exchange besides Binance in the 24 hours prior to writing, listed SHIB against the South Korean Won (KRW) on Wednesday. SHIB is trading at $0.000012 at time of writing. The 15th-ranked crypto asset by market cap is up 0.88% in the past 24 hours and more than 33% in the past…

Decentraland (MANA) Swells 55% – Are Metaverse Tokens Back?

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MANA is the native token of the Decentraland ecosystem which, as the time of writing, has seen growth enough to recoup losses post-FTX collapse. According to CoinGecko, the token is up 55% in the weekly timeframe with the biggest gains made during the monthly time frame at 105%.  With 2023 showing a renewed interest in crypto, Decentraland has a lot to unpack this month for users, traders, and investors as they released their manifesto detailing plans to improve user experience and making it easier for creators to enter the world…

Crypto Trading Firm Cumberland DRW Disputes Genesis Exposure

“Under the terms of our agreement, on November 16, we notified them that we were surrendering our cash collateral and liquidating their crypto to close out the loan,” Cumberland said. “This left an outstanding balance due to us of approximately $46,064.34, consistent with our November tweet. We have established no further borrows from Genesis and have no additional exposure.” Source

Former FTX US president raises $5M for new crypto software firm

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The former head of FTX US is launching a new cryptocurrency software company and has raised $5 million from several investors, according to Bloomberg.  Brett Harrison, who served as president of FTX US between May 2021 and September 2022, has received backing from Coinbase Ventures and Circle Ventures to launch a new software startup. SALT Fund, Motivate VC, P2P Validator, Third Kind Venture Capital, Shari Glazer of Kalos Labs and Anthony Scaramucci also participated in the seed round. His new startup, dubbed Architect, will develop trading software for large institutions…

Crypto Analysts Warn Against Shorting DYDX Ahead of $200M Token Unlock

Activity in decentralized exchanges like dYdX and GMX, offering perpetual futures, has picked up pace since the collapse of centralized derivatives giant FTX. Trading volume on dYdX increased to $2.9 billion on Jan. 14, according to data from Nomics, after reaching lows of $212 million after FTX’s unfolding. Perpetuals are futures contracts, but unlike the latter, they don’t have an expiry date. That allows traders, both bulls and bears, to hold their long/short positions as long as they like. Source 200MAheadanalystsCryptodYdXShortingTokenUnlockWarn CryptoX Portal

Crypto Lender Genesis Global Capital Is FTX’s Largest Unsecured Creditor

The names and information of most of the other top 50 creditors remain redacted, but the twelfth-largest unsecured creditor is listed as Hong Kong-based crypto trading firm Pulsar Global Ltd, with a claim of $92.9 million, while individual creditor Larry Qian is 14th with a claim of $91.1 million. Another notable name on the list is Singapore-based crypto market maker Wintermute, 29th on the list with a claim of $33.0 million. Source

PayPal Reports Data Breach Information for Nearly 35,000 Accounts Worldwide

PayPal sent notifications to all the affected accounts asking them to change their passwords. PayPal said that there had been no breach in their systems. One of the world’s largest online payment services platforms PayPal faced a major breach of data last month between December 6 and December 8, 2022. As per reports, the hackers got away with the sensitive information of 34,942 accounts. PayPal noted that the data included the Name, address, personal tax identification numbers, social security number, and date of birth, of the compromised accounts. The company…

Crypto Lender Nexo Charged by SEC Over Unregistered Security Sales, Will Pay $45M in Fines

In addition to paying fines, Nexo will reportedly cease its unregistered lending product to all US investors.  Crypto-lending firm Nexo has agreed to pay fines of $45 million to the Securities and Exchange Commission (SEC) for violating federal securities law. According to the regulatory agency, Nexo failed to register its crypto asset lending product. The SEC further stated that the crypto platform initiated this unregistered security in 2020, allowing US customers to earn. Addressing the situation in a statement, SEC Chair Gary Gensler explained: “We charged Nexo with failing to register its…