Day: February 9, 2023

Getting rid of crypto staking would be a ‘terrible path’ for the US — Coinbase CEO

boss

The CEO and co-founder of cryptocurrency exchange Coinbase, Brian Armstrong, believes that banning retail crypto staking in the United States would be a ‘terrible’ move by the country’s regulators.  Armstrong made the comments in a Feb. 9 Twitter thread which has already been viewed over 2.2 million times, after noting they’ve heard “rumors” that the U.S. Securities and Exchange Commission “would like to get rid of crypto staking” for retail customers. “I hope that’s not the case as I believe it would be a terrible path for the U.S. if…

Hut 8 merger wouldve happened even without FTX or crypto turmoil, says CEO

boss

Crypto exchange FTX’s collapse and overall crypto market turmoil were not key factors in the decision to merge crypto mining firm Hut 8 with US Bitcoin Corp., according to Hut 8 CEO Jamie Leverton.  On Feb. 8, Leverton said that the merger was mainly about providing diversified revenue and helping scale the combined businesses, stating: “I think this deal would have happened regardless. The ability for us to bring these businesses together we think is so incredibly complementary.” The all-stock merger was announced on Feb. 7 with the combined company,…

Hut 8 merger would’ve happened even without FTX or crypto turmoil, says CEO

Crypto exchange FTX’s collapse and overall crypto market turmoil were not key factors in the decision to merge crypto mining firm Hut 8 with US Bitcoin Corp., according to Hut 8 CEO Jamie Leverton.  On Feb. 8, Leverton said that the merger was mainly about providing diversified revenue and helping scale the combined businesses, stating: “I think this deal would have happened regardless. The ability for us to bring these businesses together we think is so incredibly complementary.” The all-stock merger was announced on Feb. 7 with the combined company,…

Indian Crypto Exchange Wazirx Calls Binance’s Allegations ‘False and Unsubstantiated’ — Seeks Recourse – Exchanges Bitcoin News

Indian crypto exchange Wazirx has denied the allegations made by Binance regarding the relationship between the two crypto exchanges. Emphasizing that the allegations “are false and unsubstantiated,” Wazirx stressed. “As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.” Wazirx Says Binance’s Accusations Are ‘False and Unsubstantiated’ Wazirx said Tuesday that Binance’s allegations regarding its relationship with Zanmai Labs, allegedly the entity that operates the Indian crypto exchange, are “false” and “misleading.” The company added that it is seeking…

Payments provider Affirm to sunset crypto program after 19% staff cut

boss

Max Levchin, the CEO of buy-now-pay-later company Affirm, has confirmed that they will be shutting down their “Affirm Crypto Program” amid dampening consumer spending and a changing macroeconomic environment. The CEO released a letter to shareholders on Feb. 8 alongside a 19% staff cut. He cited uncertain macroeconomic conditions and the need to offset some liabilities on the firm’s balance sheet as the two main reasons behind the decision: “In a period of increased economic uncertainty, we are doubling down on our core businesses, delaying projects with less certain revenue…

Shark Tank Star Kevin O’Leary Says Most Crypto Tokens Are Worthless — ‘They’ll Eventually Just Go to Zero’ – Markets and Prices Bitcoin News

boss

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says that most crypto tokens are worthless and they will eventually drop to zero in value. He added that he now owns seven cryptocurrencies and he is getting the same volatility he did when he owned 32 crypto tokens prior to the collapse of crypto exchange FTX. O’Leary: Most Crypto Tokens Are Worthless Kevin O’Leary shared his view on cryptocurrency investing in an interview with Scott Melker on the Wolf of All Streets podcast, published Tuesday. He said: 10,000 tokens, most of…

Crypto exchange Kraken faces probe over possible securities violations: Report

boss

Cryptocurrency exchange Kraken is reportedly being probed by the United States Securities and Exchange Commission (SEC) over whether it breached rules around the offering of securities.  According to a Feb. 8 Bloomberg report, the probe relates to certain offerings that Kraken has made to U.S. clients. A person with knowledge of the matter said the probe is at an advanced stage and could reach a settlement in the coming days. However, at this stage, it is not clear which offerings are being scrutinized by the securities regulator. When asked about…

Proposed Israeli law to classify crypto as securities will ‘kill the industry’

boss

Proposed laws in Israel that would see cryptocurrencies classified as securities would cause huge damage to the local crypto industry, according to the chief of an Israeli crypto service provider. Cointelegraph Magazine editor, Andrew Fenton, spoke with Ilan Sterk, the CEO of Altshuler Shaham Horizon in Tel Aviv, Israel. The firm provides cryptocurrency custody and trading services and is one of the few firms in the country having the approval to deal with banks. “It’s quite complicated,” Sterk said of the current legal situation for crypto in Israel. Ilan Sterk, CEO,…

As Bitcoin nears $25K, questions about rally’s sustainability remain

boss

It is no secret that the global economy has continued to weaken over the course of the past year. To this point, on Jan. 19, the United States government hit its “debt ceiling,” i.e. the total sum of money that the U.S. Treasury can borrow to fund its ongoing federal operations, leading to renewed concerns that more financial pain and the economic slowdown could be incoming. Similarly, on the other side of the Atlantic, the United Kingdom has been struggling as well. This is made evident by the fact the…