Tag: Firm

Coinbase Entices Users to Switch From USDT to USDC, Crypto Firm Says Recent Events ‘Put Some Stablecoins to the Test’ – Bitcoin News

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Coinbase, one of the largest cryptocurrency firms in the industry, has published a blog post that tells users to “switch to the trusted and reputable digital dollar,” referring to the stablecoin asset usd coin. The company’s blog post specifically mentions switching the stablecoin asset tether over to usd coin, and the firm is offering “zero fees” to swap these two tokens. Coinbase Offers Users Zero Fees to Switch From Tether to Usd Coin, Crypto Community Questions Motive On Thursday, Dec. 8, 2022, Coinbase shared a new blog post and tweeted…

Kenya-Based Bitcoin Mining Company Raises $2 Million in Seed Investment Led by Jack Dorsey-Owned Firm – Mining Bitcoin News

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Gridless, a bitcoin mining company operating from Kenya, recently raised $2 million in seed investment from Block, a digital payments company owned by Twitter founder Jack Dorsey, and Stillmark. The bitcoin mining firm is reportedly planning to use the capital raised to fund its expansion into other African countries. Using Revenue Generated From BTC Sales to Subsidize the Cost of Power A Jack Dorsey-owned digital payments firm, Block, and Stillmark, a bitcoin-focused venture firm, are reported to have led a $2 million seed investment in African crypto mining company Gridless.…

Crypto Trading Firm Amber Group Ditches $25M Chelsea Sponsorship Deal Amid Layoffs: Report

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US Justice Dept Arrests Blockchain Company Official on Charges He Defrauded Firm of More Than $1M

According to the indictment, in 2018, Thapa agreed to receive and hold $1 million of his company’s money in his personal bank account while the firm explored other banking options. Thapa soon began using the funds on personal expenses such as nightclubs, travel and clothing, despite re-assuring the company that he was only holding the money “for safekeeping.” Source link

Digital Entertainment Firm Animoca Brands Acquires Majority Stake in Pixelynx

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…

Galaxy Digital to Acquire Israeli Custody Firm GK8 from Celsius Network

Amongst other things, GK8 will help solidify GalaxyOne, the bigger company’s trading platform. Cryptocurrency financial services firm, Galaxy Digital Holdings Ltd (TSE: GLXY) has been selected as the winning bidder for Celsius Network’s owned custody outfit, GK8. As announced by the company, the acquisition is a part of the divestment agenda of the bankrupt crypto lender and it is subject to regulatory approval. GK8 provides a secure institutional digital asset self-custody platform that enables users to carry out transactions offline, a provision that guarantees protection for its users from cyberattacks.…

Audit firm Mazars to verify KuCoin’s proof of reserves

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Crypto exchange KuCoin hired the international accounting firm Mazars for a third-party audit of its proof of reserves (PoR).  According to an announcement on Dec. 5, the verification will provide the exchange customers additional transparency and reporting on whether their in-scope assets are collateralized, along with details on main, trade, margin, robot and contract accounts for Bitcoin (BTC) and Ether (ETH), as well as for the stablecoins Tether (USDT) and USD Coin (USDC). The report should be available on KuCoin’s official website within a few weeks. CEO of KuCoin Johnny Lyu…