Day: November 2, 2023

Europe’s Bitcoin miner secures €575m debt financing from Tether

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Northern Data Group says the financing will strengthen its ability to invest in “the most sophisticated hardware available.” Northern Data AG, a German company focused on Bitcoin (BTC) mining, has secured a €575 million debt financing provided by stablecoin issuer Tether Group. In a press release on Nov. 2, the Frankfurt-based company called the financing a “strong endorsement” of its strategy and “potential dominance in the marketplace.” Northern Data will use the proceeds to invest in the hardware available to unlock access to “Generative AI technology in Europe,” the company…

Altcoin market rises amid Bitcoin rally and U.S. interest rates

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Cryptocurrency prices reacted positively to the Federal Reserve’s latest decision on interest rates on Nov. 1. Defi tokens like AAVE and Uniswap (UNI) led the way, rising over 20% in a moment. AAVE rose to $98.13 and Uniswap’s UNI rose to $4.80. These tokens are thriving due to the overall significance of the cryptocurrency rally. In the case of Uniswap, the rally means demand for cryptocurrencies will increase as investors try to follow the crowd. In the stock market, it was already seen Coinbase’s share price skyrocketed this week. When…

SNB Working With SIX Stock Exchange, 6 Banks on Wholesale Central Bank Digital Currency Pilot

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Tether issues $610M debt financing to Bitcoin miner Northern Data

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Tether (USDT) stablecoin issuer is raising the bet on Bitcoin (BTC) mining by issuing a major debt facility to German-based BTC mining company Northern Data AG. Northern Data AG has secured a 575 million euro ($610 million) debt financing facility from Tether to drive further investments across its businesses, according to an announcement on Nov. 2. The debt capital specifically aims to enable Northern Data Group to invest in its three business lines including its artificial intelligence cloud service provider Taiga Cloud, Ardent Data Centers and Peak Mining, the company’s…

New BTC price breakouts see Bitcoin traders confirm targets up to $48K

Bitcoin (BTC) has jumped to new 18-month highs — but holding its latest support is now key to avoid a “breakdown.” BTC/USD 1-week chart. Source: TradingView $35,000 decides Bitcoin range breakout validity Data from Cointelegraph Markets Pro and TradingView shows BTC price gains continuing into Nov. 2. BTC/USD hit $35,968 on Bitstamp after the daily close — its highest levels since May 2022 and beating last month’s local peak. Now returning to test the mettle of $35,000 as support, Bitcoin is on the radar of market participants, some of whom…

Genesis’ Updated Liquidation Plan Is a Material Change, U.S. Government Says

“The prior plan provided for the sale of assets of the debtors and a non-debtor affiliate, a discharge of the debtors, and the reorganization of any unsold assets for the benefit of the claim holders,” said Harrington, a Department of Justice official with responsibility for bankruptcy cases. “The liquidating plan provides for the liquidation of all three debtors … the debtors have substantially and materially modified the sale plan.” Source

Ripple Transfers 800M XRP Back To Escrow: Catalyst For Rally?

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Recent financial maneuvers by Ripple Labs have caught the eye of crypto sleuths again. Recent data from crypto data analysis platform Whale Alert has shown a significant movement of 800 million XRP tokens back into Ripple’s established escrow system. This move comes in the aftermath of Ripple’s customary monthly unlocking of one billion XRP, a practice that started in 2017 as part of the company’s strategy to maintain XRP price stability. Ripple Returns 800 Million XRP To Escrow The essence of Ripple’s escrow mechanism is to facilitate a consistent and…

BitGo receives BaFin license in Germany

Cryptocurrency custodian BitGo, backed by Goldman Sachs and Galaxy, obtained a custody license from BaFin, the German Federal Financial Supervisory Authority, as stated in a Nov. 1 release from Finance Magnates. BaFin supervises active companies in Germany that provide services related to cryptocurrency assets, solidifying the custodian’s presence in the European market. Reaching a milestone Palo Alto, Calif.-based BitGo established two regulated custodial entities in Germany and Switzerland in February 2020. BitGo’s German branch, known as BitGo Deutschland, promptly commenced offering custody services within Germany and anticipated seeking regulatory approval…

UK seeks six crypto investigators to beef up National Crime Agency

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Reacting to the rising attempts from bad actors to dupe crypto investors, the United Kingdom’s National Crime Agency (NCA) plans to form a specialized cryptocurrency and virtual assets team to counter the issue. The NCA posted a job opening on Nov. 4, looking to hire six individuals to create a new team focused on crypto crimes — which will either fall under the National Cyber Crime Unit (NCCU) or the Digital Asset Team. The responsibilities include: “The role will support existing and new investigations where specialist cryptocurrency experience is required…