“We’ve quite well known for crypto insurance, but this is to do with our disaster recovery piece,” said Oliver Cummings, Coincover’s director of strategy and partnerships. “It’s where we become a third party within Fireblocks and its client relationships. It’s almost like a break-glass solution so if something happens to the client, or to Fireblocks, we could recover that wallet for the customer.” Source
“Today, nearly 50% of young investors hold cryptocurrency, and over 80% have stated they are interested in investing in alternative assets,” said Patel. “With Arch, individuals can use crypto assets as collateral for loans, granting the ability to access capital to make other investments or make other large purchases to accelerate their financial journeys.” Source
Some of these ecosystems that seem to be drawing more attention are communities on the Solana, Polygon, Cosmos, and Polkadot blockchains. Each community grew their total developers respectively by 83%, 40%, 25%, and 2%, in 2022, according to the report. Source
SkyBridge Capital founder Anthony Scaramucci is investing in a crypto company founded by the former president of FTX US. According to an email to Bloomberg, Scaramucci said he would be investing his own personal funds to support ex-FTX US president Brett Harrison’s new venture, which became known just three weeks after the collapse of crypto exchange FTX. It is understood that the crypto software company — which doesn’t yet have a name — will enable crypto traders to create algorithmic-based strategies to access different markets — both centralized and decentralized. It…
The New York City-headquartered Ethereum studio currently has about 900 employees. The planned cuts are understood to be in the process of being finalized, and the exact number is not known at this point, said the source, and later confirmed by the company. Source
“Because of the current market situation,” new entrants to the crypto market are “kind of hesitant,” Wang said; they either start with small trades as a test, or they open an account and wait for their preferred market conditions. So Metalpha is focusing on existing clients, mostly from the crypto space who are “very hungry for hedging solutions because they lost a lot of money [in this bear market]. Some of them are afraid that if the market continues to behave like this, they need to protect themselves,” he said.…
A New York-based law firm says it has begun an investigation into whether Bitcoin miner Core Scientific and its leadership potentially engaged in “securities fraud and other unlawful business practices” which led to its stock price falling on several occasions. According to securities class action firm Pomerantz LLP, the investigation was prompted by a report from Culper Research in 2022, which alleged that Core Scientific had “wildly oversold” its mining and hosting businesses in 2021 and also waived a 180-day lockup period of over 282 million shares, making them “free to be…
The firm had originally said on Sept. 13: “In practice, PoolinWallet will offer IOU-token to token single-direction swap in the Trade function, allowing users to trade their IOUBTC to BTC, IOUETH to ETH, IOUUSDT to either USDT or USDC, IOULTC to LTC, IOUZEC to ZEC, IOUDoge to Doge, quarterly. Also, PoolinWallet is likely to increase the frequency and amount of redeem as long as the liquidity becomes available, meanwhile, users could withdraw their IOU tokens and trade on chain or even with third parties (if available) freely.” Source
Renowned crypto firm Arcane Research has issued a warning to Bitcoin (BTC) and Ethereum (ETH) investors in light of the escalating events surrounding Digital Currency Group (DCG), Genesis, and Grayscale. In an article by analyst Vetle Lunde, the firm warns: Investors should pay attention to the ongoing financial distress related to Digital Currency Group (DCG) as the outcome could severely impact crypto markets. In the reasoning behind the warning, Arcane Research states that if DCG goes bankrupt, it could be forced to liquidate its assets. “This could force DCG into…
Institutional cryptocurrency infrastructure firm Securrency has hired asset management giant State Street’s head of digital Nadine Chakar as its new CEO. Source