Day: June 19, 2023

Warren Buffett’s Berkshire Hathaway Increases Stake in Five Major Trading Firms in Japan

Warren Buffett has again increased its stakes in the 5 large trading firms in Japan where Berkshire Hathaway had a 7.4% stake. American multinational conglomerate holding company Berkshire Hathaway (NYSE: BRK) has increased its stake in a few trading firms in Japan through a wholly-owned subsidiary, National Indemnity Company. The average stake in these firms is over 8.5%. Berkshire Hathaway announced that National Indemnity Company now has more stakes in Mitsubishi, Marubeni, Sumitomo, Itochu, and Mitsui. According to the firm, the total value of its stake in these companies is higher than…

Do Kwon gets 4 months in prison in Montenegro on fake passport charges

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Terraform Labs founder Do Kwon has been found guilty of using a false passport by a court in Montenegro and has been sentenced to four months in prison. Kwon’s colleague and former Terraform Labs chief financial officer Han Chong-joon was charged alongside him and received the same sentence. The time both men spent in detention will be taken into account, the Montenegro Basic Court said in a statement on its website. Kwon was charged with attempting to leave the country using a false Costa Rican passport. He reportedly told a…

Wyre Announces Closure of Platform and Winding Down Next Month

According to reports, problems began at Wyre when it set withdrawal limits for user accounts, claiming the community’s best interests. Wyre, a prominent payments firm in the crypto industry, has recently plans toward the closure of its business as it plans to cease operations by the end of next month. As highlighted in a tweet, the company attributed this move to protecting the best interests of its key stakeholders and customers, citing market conditions as the primary motivator. Additionally, Wyre clarified that the closure was not influenced by any regulatory…

Fidelity may be considering a bitcoin spot ETF

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Fidelity may be planning moves in the crypto market with the launch of a bitcoin spot ETF or a potential acquisition of Grayscale. The world’s third-largest asset manager, Fidelity has grown its digital asset presence significantly over the years. Its cryptocurrency-dedicated offshoot, FDA, received a New York Trust Charter and launched European operations in 2020.  The FDA has spearheaded initiatives such as the Fidelity crypto offering, which allows users to trade bitcoin and ethereum along with…

Bear market allows crypto companies to ‘listen’ to users: KuCoin exec

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Crypto has been at the mercy of an ongoing bear market that began in the spring of 2022, after a historic bull run that had investors, developers and users piling into the Web3 space.  Despite interest slowing down and companies needing to adjust to the current market conditions, many in the space still view this as a time to mature the industry.  Cointelegraph spoke with Dorian Vincileoni, the Europe business development lead of KuCoin, at the Proof of Talk 2023 blockchain conference on how companies in the space can best utilize…

Why ZK rollups need data availability

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Zero knowledge proofs have been hailed as a major advancement for blockchain technology but the efficacy of these protocols will require streamlined data availability solutions to unlock their full potential. Anurag Arjun, co-founder of Polygon and blockchain data availability protocol Avail, highlighted the importance of data availability for ZK rollups in an interview with Cointelegraph. ZK rollups are a layer 2 blockchain scaling solution for blockchain networks allowing transactions to be batched and submitted to a layer 1 blockchain with the provision of a cryptographic proof. ZK proofs aim to…

Britcoin’s Launch Nears after Project Rosalind CBDC Study

The Bank of England is progressing with its Britcoin digital currency project as it released results from the Rosalind project, which started in July 2022. As the idea of making cash more decentralized continues to grow in popularity, the CBDC has also been an up-and-coming project in different countries. Britcoin, the name for the Bank of England (BoE) digital currency, is also closer to being launched. The digital currency, which is to be backed by the British Pound, is aimed at sustaining the trust people have in money while protecting…