Tag: 77M

Pyth’s Blazing $77M Token Airdrop Cements Status as Chainlink Challenger

Pyth Network’s exceptional refresh rate speed sets it apart and significantly adds to its appeal, surpassing that of its competitor – Chainlink. Pyth Network, a decentralized finance (DeFi) oracle service competing with Chainlink, made headlines this week with a remarkable token airdrop valued at an astounding $77 million. The distribution of 250 million PYTH tokens to early Pyth users increased the protocol’s market capitalization beyond $765 million, highlighting the project’s growing importance. Today marks the launch of the Pyth Network’s permissionless mainnet, ushering in a new era of token-led governance…

Core Scientific seals $77M Bitmain deal for 27K Bitcoin mining rigs

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Cryptocurrency mining hardware maker Bitmain and bankrupt crypto mining firm Core Scientific have agreed on a combination of equity and cash to finalize the deal on expanding mining facilities.   The deal between the two mining companies will see Bitmain supply 27,000 Bitcoin (BTC) mining rigs for $23 million in cash, along with $53.9 million worth of common stock of the bankrupt firm. Apart from the mining hardware purchase deal, Bitmain and Core Scientific have signed a new hosting arrangement to assist Bitmain’s mining operations. The deal was finalized in August when…

Bankrupt Core Scientific to Buy 27K Bitmain Servers for $77M in Cash and Stock

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Michael Novogratz Tells CNBC He Does Not Expect to Recover $77M Exposure Linked to FTX

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Galaxy Digital discloses $77M exposure to FTX, $48M likely locked in withdrawals

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In its latest quarterly earnings call on Nov. 9, blockchain financial services firm Galaxy Digital disclosed that it had an exposure of $76.8 million consisting of cash and digital assets to troubled cryptocurrency exchange FTX. Of this amount, Galaxy Digital said that $47.5 million are currently in the withdrawal process. The day prior, FTX announced it had halted all withdrawals after the combination of a consumer bank run and a devastating price decline in its native FTT token, which the exchange uses for collateral, led to a liquidity crisis.  Despite…

Once-hacked for $77M, Beanstalk’s algo stablecoin protocol relaunches

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Ethereum-based algorithmic stablecoin project Beanstalk Farms has relaunched its protocol just under four months after going offline after suffering a devastating $77 million governance exploit. The protocol and its governance have been paused since April following the governance exploit and flash loan attack, but were relaunched as of Aug. 6 in an event called the “Replant.” In an announcement shared with Cointelegraph, Beanstalk said it has come out of the ordeal stronger than ever, likely in reference to protocol’s governance and security. “Beanstalk has come out on the other end…

Crypto Exchange AscendEX Hacked, Losses Estimated At $77M

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Cryptocurrency exchange AscendEX suffered a hack for an estimated $77 million following a breach of one its hot wallets. On Sunday, AscendEX announced via Twitter that it had identified a number of unauthorized transactions from one of its hot wallets on Saturday. Assets not affected have been transferred to cold wallets while the investigation is carried out, the exchange added. Blockchain analytics firm PeckShield estimated that the stolen funds amounted to $77 million spread across three chains: Ethereum ($60 million), Binance Smart Chain ($9.2 million) and Polygon ($8.5 million). The…