The market is concerned that Grayscale could be “considered for strategic options in case of catastrophe,” the note said. But DCG, even in the most adverse scenario, would prefer to hold onto Grayscale over Genesis, it said. Greyscale is DCG’s “flagship business and its cash-cow,” generating around $300 million a year in fees, according to Bernstein. Source
“This partnership supports the Celo ecosystem’s mission by providing reliable, easy-to-use tooling for developers to build and scale their dapps on the Celo blockchain,” Cazador told CoinDesk. “We are one step closer to mainstream adoption of web3 and realizing its full potential to transform lives by regenerating global ecologies and empowering local economies.” Source
While the company has no exposure to FTX, the extended Bitcoin bear market is taking a toll on parts of the business. Original
The Hong Kong-based company was once Asia’s largest Bitcoin ATM player. Source
Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has 800 payment corridors across the continent, will ostensibly see the whole region getting a chance to reap “the financially inclusive benefits.” Enabling Faster, Low-Cost Remittances The United States-based technology company, Ripple, announced on Nov. 14 that it had formed a partnership with MSF Africa that is expected to help “streamline…
The turbulent climate of the crypto industry is not putting a full stop to builders in the space. Arkon Energy, an Australian renewable data center infrastructure company, recently raised millions to expand its Bitcoin (BTC) mining operations and acquired another European-based data center. The funding round was completed with $28 million raised by the data center infrastructure company, which uses 100% renewable electricity to mine BTC. Arkon extracts renewable power trapped in electricity markets to sustainably lowers its costs. Arkon CEO Josh Payne said this type of market creates the…
ConsenSys, an Ethereum-software firm that helped engineer the Merge, is co-launching with 18 other firms the Ethereum Climate Platform (ECP) at COP27’s UN Climate Change Global Innovation Hub. (COP27 is short for 27th Conference of the Parties of the UNFCCC. UNFCCC is short for United Nations Framework Convention on Climate Change. COP27 runs Nov. 6-18 in Sharm el-Shiek, Egypt.) Source
Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder Matt Huang took to Twitter to explain the impact cryptocurrency exchange FTX’s collapse has on his company. Paradigm is a San Francisco-based investment firm focused on supporting crypto and Web3 companies and protocols. “We are…
The FTX crisis has escalated into a legal battle between bankrupt crypto exchanges and firms whose assets are stuck on its platform. Before FTX froze assets withdrawal, many crypto firms couldn’t recover their funds from the exchange. As a result, many firms have announced a potential financial crisis if their funds remain unrecovered. Several Users are in a panic due to their funds. However, the latest report revealed that Cherokee Acquisition, a distressed asset investment firm, has given users options to sell their credit claims. But the users can only…
Following the collapse of FTX, law enforcement officials are still dealing with the Terra blockchain fiasco. A new report claims Terraform Labs (TFL) co-founder Daniel Shin’s company Chai Corporation was raided by South Korean investigators. Terraform Labs Co-Founder’s Company Chai Reportedly Raided by South Korean Law Enforcement The Terra blockchain that collapsed last May was a crypto project co-founded by two individuals — Do Kwon and Daniel Shin (Shin Hyun-seung). Similar to the FTX fiasco, Shin was more of a silent partner like FTX’s co-founder Gary Wang. A report from…