The average daily burn recently declined to a record low of 1,206 ETH per day. That’s barely 9% of the record daily burn of 13,269 ETH registered in January. Meanwhile, 13.6 million ETH, amounting to 12% of the circulating supply of 120 million ETH, are locked in the Beacon Chain, according to data tracked by blockchain analytics firm Glassnode. Source
The bitcoin mining company Cleanspark revealed on Wednesday that the company has signed a purchase agreement for 10,000 new Bitmain Antminer S19j Pro mining rigs for $28 million. Cleanspark expects the machines to be delivered to the company’s facilities by the end of October or early November 2022. Cleanspark Inks Deal with Cryptech Solutions — Purchases 10,000 New Antminers Bitcoin miner Cleanspark (Nasdaq: CLSK) has announced it has inked a deal with Cryptech Solutions in order to acquire 10,000 Bitmain Antminer S19j Pro bitcoin mining rigs. The news follows Cleanspark…
The round, led by alternative investment firm Marshall Wace, comes as the crypto market faces what some observers are calling a crypto winter. The total cryptocurrency market cap has slumped to less than $1 trillion from about $3 trillion in November and bitcoin, the largest cryptocurrency, has dropped 59% this year. Firms grappling with lower cryptocurrency prices have been forced to cut costs, with casualties including investment fund Three Arrows Capital and lender Celsius Network. Source
21.co, the new parent firm of exchange-traded products (ETP) provider 21Shares, has become “Switzerland’s largest crypto unicorn,“ the firm announced on Tuesday. It raised $25 million in a funding round led by London-based hedge fund Marshall Wace. The new funding brings the firm’s valuation to $2 billion. 21.co is designed to unite 21Shares with third-party token provider Amun and other upcoming crypto projects aiming to build bridges into the crypto world, 21.co founder Hany Rashwan told Cointelegraph. All crypto ETP products launched by 21Shares will maintain the same nomenclature, Rashwan…
Neill joins from Mastercard, where he was chief risk officer for the company’s new payments platforms division, and head of risk for product and engineering, responsible for covering new payments platforms, digital banking and central bank digital currencies (CBDCs). Source
Following the controversy surrounding Kyle Roche, the attorney and founding partner of the litigation firm Roche Freedman LLP, the two crypto exchange firms Bittrex and Poloniex want the law firm removed from the class-action lawsuit against them. Similar to the attorney representing Tether, the lawyers representing Bittrex and Poloniex argue that “Mr. Roche’s recent statements raise serious concerns.” Poloniex, Bittrex Lawyers Want Roche Freedman LLP Removed From a Lawsuit Against the Exchanges Bittrex and Poloniex want the law firm Roche Freedman LLP removed from a specific class-action lawsuit filed against…
Kyle Roche, an attorney and founding partner of the crypto boutique litigation firm Roche Freedman LLP, recently withdrew from a number of class-action lawsuits initiated by the law firm. The attorney’s withdrawal follows videos that circulated showing the lawyer discussing associations with cryptocurrency companies. After the attorney’s initial filing, the stablecoin issuer Tether is requesting that the litigation firm Roche Freedman be removed from the class action against the company. Tether Wants Law Firm Roche Freedman Removed From Class-Action Lawsuit Elliot Greenfield of Debevoise & Plimpton LLP has written to…
The Macalinao brothers built their reputation in the Solana blockchain community. In early 2021 they created a decentralized exchange for swapping stablecoins called Saber that at its zenith purported to represent $4.15 billion (nearly half) of the crypto value locked up on Solana. Part of the allure of Saber was the interlocking DeFi lego bricks that surrounded it: projects like Sunny, Quarry, Cashio, Goki, and Tribeca. Source
Precious metal markets have shuddered during the last few weeks, as gold’s price per ounce nears a six-week low hovering just under $1,700 per unit. Silver crashed through the $18 range slipping to $17.80 per ounce. While both gold and silver dipped between 0.85% to 0.89% against the U.S. dollar in 24 hours, platinum dropped 2.82% and palladium shed 4.18% against the USD during the last day. Despite Scorching Global Inflation, Gold Hasn’t Been a Safe Haven in 2022 While the entire world is suffering from red-hot inflation, many would…
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