Month: January 2023

Argo Blockchain mines 25% less Bitcoin due to winter storm at Helios

Publicly-listed Bitcoin (BTC) mining company Argo Blockchain saw a significant drop in mining activity in December due to a winter storm in Texas. On Jan. 11, Argo released its first operational update since selling its flagship mining facility Helios to Mike Novogratz’s Galaxy Digital. The company said it mined 147 Bitcoin or BTC equivalents in December, compared to 198 BTC in November 2022. As of Dec. 31, Argo held 141 BTC, with its December mining revenue amounting to $2.49 million, the firm said. Argo’s total debt was approximately $79 million,…

Huobi clarifies Korean operations: Two separate entities aiming at same market

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The company confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea. Following the report about Huobi Korea’s planned buyout of its shares from Huobi Global, the latter revealed that the deal has already been made, with the two platforms operating separately since the fall of 2022.  In the press release from Jan. 11, Huobi Global — rebranded to Huobi in November 2022 — confirmed that it has already broken all ties with Huobi Korea, its former subsidiary in South Korea. According…

Litecoin Could Rally 285% Pre-Halving Based: Historical Data

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While the Bitcoin halving is not expected until March 13, 2024, according to Coinwarz data, Litecoin investors can already look forward to the traditionally bullish event as soon as this year. According to NiceHash’s estimate, the Litecoin halving will take place in 189 days, on July 19, 2023. The approaching halving has prompted analyst Rekt Capital to examine Litecoin’s historical price trends before and after the halving in order to provide a prediction for the coming months. 285% Litecoin Rally In The Cards? Rekt Capital notes that LTC tends to…

Crypto.com Delists USDT for Canadians Following OSC Ban

In December, the Canadian Securities Administrators (CSA) announced strengthening its approach to oversight of crypto trading platforms by expanding existing requirements for platforms operating in Canada.  One of the leading global exchanges Crypto.com has announced its decision to delist Tether’s USDT stablecoin for Canadians in order to comply with instructions from the Ontario Securities Commission (OSC), an independent agency responsible for regulating the capital markets in Ontario. Starting from January 31, USDT will no longer be available for Canadian residents on Crypto.com, and all the transactions involving the stablecoin will be suspended. The…

Demand for USDC Skyrockets after FTX Collapse

Despite the fact that customers may be shifting their focus to its competitor, Tether doesn’t see a threat. Following a series of events that took place in 2022, it appears that the Circle-issued USDC stablecoin has suddenly found itself to be a favorite option among crypto users. According to a data report by blockchain analytics firm Glassnode, the USDC now sees a daily transfer volume of up to four or five times that of major competitor Tether USDT. That’s despite the USDT maintaining its status as the largest stablecoin by…

BlockFi Creditors Battle to Keep Their Details Secret

Andrew Vara, a U.S. Department of Justice official responsible for bankruptcy cases, argued in a separate Tuesday filing to the New Jersey bankruptcy court that “disclosure is a basic premise of bankruptcy law,” needed to avoid any suggestion of impropriety – echoing arguments he has previously made in the case of collapsed crypto exchange FTX. Source