Tag: Firm

Metaverse firm, Improbable, changes tact after slashing losses by 85%

Improbable, a London-based metaverse company, has shifted its focus from virtual experiences for video games and defense to becoming a “venture builder” after cutting losses by 85%. In a press release on Tuesday, Sep. 26, the firm said it would focus on the “metaversal experiences” development and venture building, supported by an experimentation arm, Improbable Labs.  In 2022, Improbable reduced its losses by 85%, from £131 million (~$159 million) to £19 million (~$23 million). Over the past year, the company grew its revenue by 2.6x to £78 million (~$95 million). “The focus…

Crypto firm claiming $1.4B in trades on CMC flashes reportedly fake license data

boss

A number of cryptocurrency platforms reporting billions of dollars in daily trades on CoinMarketCap appear to have been misleading their customers about holding certain crypto licenses, an investigation by Cointelegraph has found. Bitspay, a crypto exchange that reports a $1.4 billion daily trading volume on CoinMarketCap, claimed it held a license in Estonia, and is regulated under Estonian law. However, after Cointelegraph reached out with questions about this license, the company swiftly erased its reportedly fake license data. At the time of writing, Bitspay is the fourth-largest crypto exchange by…

Princess Diana’s law firm to file a lawsuit against OneCoin

The British law firm that represented Diana, Princess of Wales, is now going after OneCoin masterminds. Mishcon de Reya, a London-headquartered international law firm, is about to file a class-action lawsuit on behalf of OneCoin investors who suffered losses as a result of the crypto fraud. In a press release published on Monday, Sept. 25, the firm said that a civil claim would be brought in London’s High Court in an effort to “recover for investors the losses they suffered at the hands of those who perpetrated the fraud.” Mishcon…

Crypto investment firm CoinShares opens hedge fund division for US investors

boss

Major European cryptocurrency asset manager CoinShares is launching a hedge fund division in the United States despite the country’s tough crypto regulation climate. CoinShares officially announced the news on Sept. 22, stating that the firm will roll out its offerings for qualified U.S. investors for the first time ever. The new division, called CoinShares Hedge Fund Solutions, is the company’s response to the growing demand for products based on cryptocurrencies like Bitcoin (BTC). For the first time, CoinShares will be making its offerings accessible to qualified U.S. investors through a…

Investment Firm Founder Has An Important Message For Bitcoin Holders

boss

SkyBridge Capital founder Anthony Scaramucci recently shared positive views on the flagship cryptocurrency, Bitcoin, which could provide some comfort to BTC holders as the bear market lingers.  Scaramucci Says HODL Bitcoin According to a report by Business Insider, the investment firm founder advised Bitcoin holders not to sell their BTC as they already made it through the winter. Interestingly, he mentioned that the worst of the bear market is over. Despite this being a bold assertion, there is evidence to suggest that he might be right. There is the likelihood…

Cisco Acquires Cybersecurity Firm Splunk for Massive $28B in Cash

This is Cisco’s largest acquisition till date as the company plans to amp up its cybersecurity division to boost the company’s revenue. In a major announcement on Thursday, September 21, America’s digital communications and technology giant Cisco announced the acquisition of cybersecurity firm Splunk for a staggering $28 billion. The $1578 per share cash deal is Cisco’s largest acquisition to date. Acquisition of Splunk by Cisco On Thursday, Splunk’s shares surged by a 21% increase in value, whereas Cisco’s shares ended the day with a 4% decline. Splunk’s technology is…

Ex-Alameda Employee Claims Firm Triggered 87% Bitcoin Price Plummet In 2021

boss

In a recent disclosure, a former employee of Alameda Research, a trading firm led by Sam Bankman-Fried, has unveiled crucial information regarding the dramatic 87% plummet in Bitcoin (BTC) value during 2021.  The incident, which occurred on October 21, 2021, witnessed BTC’s price on Binance.US nosedive from approximately $65,760 to $8,200 within a short period. Insider Details Of Bitcoin Plunge And Alleged Manual Trading Error The ex-employee, Baradwaj, alleged that the trading firm was directly responsible for the sudden price drop, attributing it to a “manual trading error” rather than…

Former Alameda Employee Accuses Firm of Causing BTC 87% Price Dip in 2021

The ‘honest’ mistake did eventually cost Alameda some millions of dollars. An individual simply identified as Baradwaj has dropped a bombshell of an accusation on his former employer Alameda Research. According to him, Alameda, which was owned by Sam Bankman-Fried, played a prominent role in the downward spiral of Bitcoin (BTC) that saw its prices plunge over 87% on Binance.US within minutes. This was back in 2021. At the time, BTC’s price dipped to as low as $8,200 from around $65,760, albeit in a manner that could not be immediately…