Tag: Firm

Swan Bitcoin sues former employees for stealing trade secrets to launch rival mining firm

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Swan Bitcoin has filed a lawsuit against some of the former employees of its mining venture for allegedly stealing proprietary software and trade secrets to launch a competing firm, Proton Management. In a Sept. 25 lawsuit filed with a Los Angeles federal court, Swan alleged that six of its former staffers conspired to “harm Swan’s ability to compete in the market” by stealing what the filing dubbed as “crown jewels” from its mining business. Founded in 2019, Swan Bitcoin offers financial services for investors and branched out to the mining…

Ugandan Fintech Firm Gets Funding From Dutch Impact Investor

Ugandan fintech firm Agent Banking Company (ABC) receives undisclosed investment from Dutch impact investor Goodwell Investments. The funding, part of Goodwell’s $167M African startup fund, will expand ABC’s customer base, agent coverage, and services. CEO Richard Jabel says the investment will enhance financial inclusion and services accessibility via mobile phones, agents, and merchants. Affordable Financial […] Source CryptoX Portal

Singapore-Based Crypto Exchange BingX Suffers $52,000,000 Hack: Blockchain Security Firm

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New data from prominent blockchain security firm Cyvers reveals that a Singapore-based crypto exchange lost $52 million after being hacked. In a new post, Cyvers says that BingX’s hot wallet suffered a multimillion-dollar exploit affecting multiple blockchains, including Ethereum (ETH), Avalanche (AVAX), BNB, Optimism (OP), and Polygon (POL), Base, and Arbitrum (ARB). “Our system has flagged multiple suspicious transactions linked to BingX across several blockchains. Estimated losses have now exceeded $52 million, with most of the stolen assets currently being swapped.” According to cybersecurity firm Peckshield, the hacker made away…

Nigerian Think Tank, Japanese Tech Firm Partner on Blockchain Research

The Nigerian Institute of Social and Economic Research (NISER) partnered with Soramitsu, a Japanese tech firm, to improve NISER’s research faculty’s knowledge of blockchain technology. Soramitsu will focus on specific areas like SORA, central bank digital currencies (CBDCs), and Hyperledger Iroha. This partnership aims to create a knowledge base and support Nigeria’s development through research […] Source CryptoX Portal

Doors Open at Prometheum as Much-Disputed U.S. Firm Tests Crypto Tokens as Securities

The business’ survival represents one of a handful of crucial industry tests, which would also include the outcome of a number of federal court battles. In Prometheum’s case, if the SEC accepts its business model, that could prove it’s possible to run a crypto platform under current laws, as argued by SEC Chair Gary Gensler. But if the SEC puts a stop to it, it counters the years-old argument from the agency that digital assets businesses need only comply with the laws to satisfy the agency. Source

Second U.S. Firm tZero Said to Become Crypto Broker Dealer Under SEC Oversight

The company – backed by Overstock and New York Stock Exchange parent Intercontinental Exchange (ICE) – said that as soon as early next year, it’ll start opening services for assets including private securities, securitized real estate, art and sports assets. It’ll start with the “full digitization of tZERO’s Series-A preferred equity security,” TZROP, the company said. Source

Crypto Research Firm Identifies Why The Bitcoin Price Could Crash To $45,000

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Este artículo también está disponible en español. 10x Research, a digital asset research platform for traders and institutions, has unveiled a foreboding forecast for the price of Bitcoin (BTC). Highlighting current market conditions and Bitcoin’s recent price dynamics, the research firm projects a massive price crash to $45,000 soon. Bitcoin $45,000 Price Crash Incoming 10x Research has released a report outlining several market factors, which, when combined, paint a picture of a potential price decline to new lows for Bitcoin. While the broader crypto market undergoes a period of correction and volatility,…