The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 22, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original
The prominent crypto and blockchain analytics company Nansen posted on social media platform X that one of its third-party vendors suffered a security breach that affected 6.8% of its users. According to Nansen, the breach gave hackers access to admin rights for an account used to “provision customer access” to its platform. Important update from us at Nansen. Please take a moment to read this. pic.twitter.com/syKE0sNnC6 — Nansen (@nansen_ai) September 22, 2023 Without directly naming the company affected, it said this vendor is “an established company that is used by…
While Foodpanda strives to manage its operations, its parent firm, Delivery Hero, is reportedly in early discussions with potential buyers to sell part of the food delivery business. Singapore-based food delivery company Foodpanda is conducting another round of employee layoffs as it strives for increased efficiency and adaptability. The company confirmed to CNBC that it is reducing its workforce, making it the third round of layoffs in a year. The Asian food delivery service also slashed its headcount in February and September last year, citing economic challenges. Unlike the previous…
Bitmain, a crypto mining rig manufacturer, is investing $53.9 million in Texas-based Bitcoin mining company Core Scientific as part of an ongoing supply contract. The deal comprises cash and equity for acquiring 27,000 Bitcoin mining servers. Bitmain will supply Core Scientific with these servers. Core Scientific will pay $23.1 million in cash and issue $53.9 million worth of its common stock to Bitmain in exchange. Core Scientific, which filed for Chapter 11 bankruptcy in December 2022, anticipates a court to establish its share price during its financial restructuring. The company…
Yesterday was arguably not a great day for Sam Bankman-Fried. First, the judge overseeing his case rejected all seven of his proposed expert witnesses*, questioning at least one’s qualifications and saying some others really wouldn’t be relevant to the case. Source
Silent Eight’s software is grounded in generative AI, similar to the technology behind the viral ChatGPT chatbot. Silent Eight, led by CEO Martin Markiewicz, has made it its mission to empower financial institutions to combat financial crimes more efficiently and effectively through the use of its Artificial Intelligence (AI) software. Among Silent Eight’s distinguished clientele are global financial giants like HSBC Holdings plc (LON: HSBA), Standard Chartered PLC (LON: STAN), and First Abu Dhabi Bank, to name a few. These institutions have recognized the value of Silent Eight’s AI-driven solutions…
The defendants allegedly used their connections on the inside to ensure that their withdrawals were prioritized over those of other customers. Bankrupt crypto exchange FTX has sued former employees of its Hong Kong-based affiliate Salameda in hopes of recovering $157.3 million. According to a Thursday filing, Salameda was being controlled by the firm’s ex-CEO, Sam Bankman-Fried. New Filing against Ex-Employees of Salameda Reveals ‘Shady’ FTX Withdrawals The filing claims that 5 individuals and two companies are behind several withdrawals that took place in the days leading up to FTX’s bankruptcy.…
DOGE has historically been more volatile than bitcoin, scaring risk-averse investors, understandably so, as BTC has been around since 2009 and has evolved as a macro asset, with increasing institutional participation over the past three years. DOGE, meantime, has been seen as a non-serious crypto project since its inception in 2013. Original
In an environment of soaring interest rates and economic unpredictability, Bitcoin and the broader crypto market face increased headwinds. The shift in the financial landscape was recently underscored by the Benchmark 10-year US Treasury yield, which hit a 16-year high this Thursday. Longest Yield Curve Inversion Ever Historically, an inverted yield curve, where short-term yields are higher than long-term ones, has been a harbinger of economic downturns. Notably, the 10-Year minus the 3-Month Treasury Yield curve has been inverted for a record 217 trading days. Past data indicates that the…
Binance, the crypto exchange, and its CEO, Changpeng Zhao have filed a joint motion to dismiss the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). SEC exceeded its powers On Sep. 21, the U.S. District Court received a statement from Zhao and Binance Holdings, arguing that the SEC exceeded its authority. In a 60-page petition, lawyers accused the regulator of failing to provide clear instructions on regulating the industry, leading to the retroactive imposition its authority on the sector. “The SEC pursues these novel theories retroactively, seeking to…