Day: February 23, 2023

Chipper Cash Lays Off More Workers — Crypto Department Still Operational, Says CEO – Fintech Bitcoin News

boss

The Nigerian fintech, Chipper Cash, recently said it has let go of more employees and that this step has been taken to help the firm contain its operating costs. Although no figure of the number of axed workers was given, one report estimated this to be around 100, or 12.5% of Chipper Cash’s entire workforce. Chipper Cash CEO Ham Serunjogi has dismissed reports that the fintech has shut down its crypto department. The Deteriorating Macroeconomic Climate The Nigerian fintech, Chipper Cash, recently confirmed it had laid off a second batch…

Bitcoin eyes 25% of world’s wealth in new $10M BTC price prediction

boss

Bitcoin (BTC) can hit $10 million per coin or more as it eats 25% of the global wealth, new analysis has concluded. In a blog post released on Feb. 16, fund manager and Bitcoin expert advisor Jesse Myers revealed his own “outrageous” BTC price target. Myers: “Bitcoin could 500x over the coming decades” Bitcoin may struggle with “brutal” volatility, but hodlers and critics alike should be in no doubt about its long-term price trajectory, Myers said. Analyzing Bitcoin’s value proposition, he argues that Bitcoin’s ability to appreciate over time means…

Galaxy acquires institutional crypto custody firm for $44M

boss

Galaxy Digital has invested $44 million into an institutional cryptocurrency custody platform to tap into its proprietary asset storage and management capabilities. Mike Novogratz’s cryptocurrency investment firm has completed the acquisition of GK8, which has developed its own patent cryptocurrency custody technology aimed at giving secure asset management for institutional users. The service specializes in providing cold vault technology that allows the execution of transactions without internet connectivity. Its in-house multi-party computation (MPC) vault provides the ability to automate transactions, and the service also provides access to Decentralized Finance (DeFi)…

Spotify Introduces Token-Enabled Playlists, Currently in Testing Phase on Android

Spotify carries out a series of tests like the new token-enabled music playlists to explore how to offer better user experience to customers. Spotify (NYSE: SPOT), Swedish audio streaming and media services provider, has rolled out a new service called the “token-enabled playlists.” The new service is currently being tested, and it allows non-fungible tokens (NFTs) holders to connect their wallets to their Spotify app and listen to curated songs. Spotify Begins Testing of Token-Enabled Playlists In its testing stage, Spotify said the token-enabled playlists are available to token holders…

3AC liquidators to sell firm’s NFTs to realize value amid bankruptcy

boss

Nonfungible tokens (NFTs) belonging to the bankrupt hedge fund Three Arrows Capital (3AC) will be sold by its liquidators Teneo, according to a recent announcement.  In a notice dated Feb. 22, joint liquidator Christopher Farmer announced that the liquidators intend to begin the sales of NFTs that belong to 3AC. The announcement highlighted that the sale would be done to “realize the value of the NFTs for the purposes of the liquidation.” According to the announcement, the sales will begin 28 days after the notice. The liquidators clarified within the…

Plans of Binance Acquisition of Voyager in Full Swing

Crypto lender Voyager Digital announced bankruptcy last year in July. On Wednesday, an attorney representing bankrupt crypto lender Voyager Digital stated that plans to wind up Binance.US’s $1.02 billion acquisition deal for Voyager are on track. Lawyers representing Voyager said that 97% of the votes so far have been in favor of the plans. The deadline to vote in on or object to the plan shall close at 4:00 p.m. ET Wednesday, February 23. Allyson Smith of Kirikland & Ellis, representing Voyager, told bankruptcy judge Michael Wiles: “As of last…

Israeli startup to create blockchain chips with $70M of fresh funds

The adoption of blockchain technology is on the rise, with the majority of enterprises looking into the technology in some capacity. As blockchain becomes more pervasive, all types of users will need the most efficient access to the capabilities of this technology. One of the responses to this has been the development of blockchain chips as energy-efficient accelerators. On Feb. 23, the Tel Aviv-based blockchain chip startup Chain Reaction announced it raised $70 million to expand its engineering team for developing its next chip. Alon Webman, the co-founder and CEO…