The 100 members of the team have been laid off, according to the report, citing a person with direct knowledge of the matter. The company wants to prioritize shorter-term projects over those needing longer to generate meaningful revenue, the person said. Source
CryptoX – Cryptocurrency Analysis and News Portal Under regulations, it’s forbidden to trade crypto with a blacklisted entity without prior permission from South Korea’s Financial Services Commission, the notice added. Crypto transactions are included in the country’s regulations prohibiting the financing of terrorism. Original Source The post South Korea Blacklists North Korean Crypto Thieves, Flags Wallet Addresses appeared first on CryptoX. CryptoX Portal
Despite its ongoing crackdown on crypto, China continues to embrace blockchain technology — up to the point of launching the National Blockchain Technology Innovation Center in the capital city of Beijing. According to the China Daily’s report from Feb. 8, the Center will create a research network with the local universities, think tanks and blockchain businesses to carry out the inquiries into core blockchain technologies. The fruits of this research will be used for further digitalization of China and, as emphasized in the report, its industry in particular. In charge…
Blockchain tokenization has gained more traction in the financial industry recently. It allows people to convert their ownership rights or assets into digital forms to secure them. In the latest development, the German generational bank DekaBank revealed plans to release its blockchain-based tokenization platform next year. But as per the details, the focus is not on regular crypto assets such as Bitcoin but on funds and stocks. DekaBank Partners With Metaco To Launch Its Blockchain-Based Platform DekaBank is collaborating with Metaco, a digital asset management company, as it plans to…
Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Crypto wipeout mounts as BTC price loses $22,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $21,633 on Bitstamp. The pair reacted badly to regulatory fears from the United States, but had already faced days of bearish sentiment, with traders expecting a retest of $21,000 or even lower. At the time of writing, Bitcoin traded at around $21,800, down around 7%…
“By introducing a revised tokenomics model that focuses on a virtuous flywheel for long-term RDNT stakers, Radiant v2 constitutes an effective iterative upgrade on RDNT v1,” pseudonymous crypto investor and researcher DeFi Maestro told CoinDesk, adding that the “flywheel encourages users to participate more actively in the protocol via rewards incentives.” Source
The company joins Core Scientific in trying to offload the assets before expiry, and will use the funds to repay creditors. Source
Regulators in Argentina are mulling the inclusion of stringent requirements in their next cryptocurrency regulatory framework. According to reports, institutions like the national securities regulator, the CNV, will be studying the inclusion of proof-of-solvency requirements for exchanges and custody institutions in Argentina, in the wake of the demise of leading cryptocurrency exchange FTX. Cryptocurrency Exchanges Might Have to Complete Proof-of-Solvency Procedures by Law in Argentina The government of Argentina is preparing to launch a set of stringent regulations that crypto companies will have to comply with to operate in the…
Long trades, or bets on higher prices, took 90% of the $220 million in liquidations on crypto futures trading over the past 24 hours as bitcoin (BTC) and ether (ETH) fell nearly 5%. Bitcoin and ether futures cumulatively saw $100 million in liquidations, while futures tracking dogecoin (DOGE), solana (SOL), XRP (XRP) and aptos (APT) took on $4 million in liquidations apiece. Original
Many mining firms, such as Argo Blockchain, have felt the impact of the decline in bitcoin prices. For some firms, their rigs could not cover their loan collaterals. So it’s not surprising that mining firms might feel the impact of last year’s revenue loss in 2023. The bitcoin bear market was relentless in 2022, driving many crypto institutions to bankruptcy. Crypto mining profitability fell within this period, and the hashrate and mining difficulty also increased, making the process more difficult. In a recent development, Argo Blockchain, a leading cryptocurrency miner,…