“Our partnership with Polygon Companies helps power a key part of our long-term stablecoin infrastructure, which brings bank-grade safety, speed, and security to stablecoins,” Jewel Bank’s founder and chairman, Chance Barnett, was cited as saying in the release. Source
A feasible deal could involve a large minority partner or a buy-out like structure led by more strategic partners, Bernstein said. Source
Marathon CEO Fred Thiel that the assets of bankrupt hosting provider Compute North are not worth looking for at the moment. Bitcoin miners have been having a pretty rough phase this year as they continue to face massive operational challenges amid the falling BTC price. After considering a stake in Compute North’s wind power facility in Texas, Bitcoin mining giant Marathon Digital decided to back out. Earlier, Marathon was planning to have a 50% stake in Compute North in a joint venture with energy provider NextEra Energy. Speaking about the…
According to statistics sourced from data aggregator YCharts, seven digital currency funds issued by asset manager Grayscale Investments are currently at a discount of 34% to 69% to their net asset value, or NAV. Holdings tracked in the analysis include the Grayscale Bitcoin Trust; Ethereum Trust, Ethereum Classic Trust, Litecoin Trust, ZCash Trust, Horizen Trust, Stellar Lumens Trust, and Livepeer Trust. All of the funds track the performance of their namesake cryptocurrencies, with the Grayscale Stellar Lumens Trust having the lowest discount to NAV at 34% and the Grayscale Ethereum…
Compute North, prior to its bankruptcy, served as the biggest hosting provider that Marathon Digital partnered with. American cryptocurrency mining outfit Marathon Digital Holdings Inc (NASDAQ: MARA) is exploring options to acquire its bankrupt sister firm, Compute North Holdings. According to Marathon’s Chief Executive Officer, Fred Thiel, the company has hired restructuring specialists to help estimate the extent of its exposure to Compute North and to explore the firm’s chances of acquiring the distressed firm. Thiel said the company has hired Guggenheim Partners and law firm Weil Gotshal & Manges…
The Bank of Spain is seeking the collaboration of organizations interested in participating in an experimental test on a wholesale central bank digital currency (CBDC). The institution clarified this new program has no relation with the current investigation on a possible digital euro, and has the objective of examining the real possibilities and advantages of using a CBDC in the field. Bank of Spain to Experiment With Its Own CBDC The Bank of Spain has recently revealed it will launch its own experimental program with a wholesale CBDC. A document…
Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits. Law to Regulate Crypto Mining in Kazakhstan, Change Licensing Rules The lower house of Kazakhstan’s parliament, the Mazhilis, has adopted the bill “On Digital Assets of the Republic of Kazakhstan” and four related draft laws which aim to regulate mining, among other crypto activities, local media reported. In accordance with the…
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The digital currency ecosystem has recorded so many mishaps this year that it is now practically impossible for investors not to maintain a skeptical view of stocks across the board. The top crypto stocks are buckling under the weight of bear pressure today as the trend left a somewhat opposite reaction on the price of digital currencies. The shares of American cryptocurrency trading platform Coinbase Global Inc (NASDAQ: COIN) closed Tuesday’s trading session down 7.80% to $42.41. In today’s Pre-Market, the shares have slipped by another 1.39% to $41.82. The…
Animoca wants to be at the forefront of the fusion of Web 3.0 technologies in the music industry. In a daring move into the music Metaverse, blockchain gaming firm Animoca Brands has acquired a majority stake in the L.A.-based music metaverse gaming platform Pixelynx. According to the official announcement, Animoca Brands will carry on with such acquisitions as it looks to integrate the music industry with Web 3.0 technologies. As of publication, however, the financial terms of the acquisition remain undisclosed. Animoca to Maximize the Potential of the Music Industry…