Tag: Million

Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year – Mining Bitcoin News

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Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022 Cryptocurrency mining has become a profitable business for many companies in Russia’s energy-rich regions, and an alternative income source for ordinary Russians. Despite the generally low rates of electricity for commercial purposes, many have been tempted to mint digital coins…

Metaverse Startup Ready Player Me Raises $56 Million in Series B Led by Andreessen Horowitz – Metaverse Bitcoin News

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The AI-generated avatar creation cross-platform for the metaverse, Ready Player Me, has raised $56 million in a Series B funding round led by Andreessen Horowitz (a16z). The startup’s co-founder and CEO Timmu Tõke says the funding will be used to scale the cross-platform metaverse avatar system. Investors Inject Ready Player Me With Fresh Capital, CEO Says ‘Interoperability’ Is the Key to Unlocking the Metaverse On Tuesday, Ready Player Me (RPM), a startup that issues 3D avatars to be leveraged in the metaverse, announced that the firm has raised $56 million…

Hodlnaut Court Filings Highlight a $193 Million Shortfall, Whistleblower Condemns Crypto Lender’s Contradictory Statements – Bitcoin News

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The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the startup. The latest update shows that Hodlnaut experienced a shortfall of around $193 million and this past week the company has laid off roughly 80% of the startup’s workforce. Crypto Lender Says ‘Financial Circumstances Are a Result of Losses Suffered by Hodlnaut’s Hong Kong Subsidiary During the Terrausd Crash’ It seems that Hodlnaut lost close to $200 million and the…

New Galaxy Fund on Path to Raise $100 Million by Year-End

The fund opened with just internal capital during what may end up being the depths of the bear market in the second quarter. The timing could turn out to be propitious, giving the fund the opportunity to put together an early record of outperformance, Portfolio Manager Chris Rhine and Global Head of Asset Management Steve Kurz, told CryptoX. Source FundGalaxyMillionpathRaiseYearEnd CryptoX Portal

New Galaxy Fund on Path to Raise $100 Million by Year End

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How Bitcoin Will Hit $1M By 2030

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Bit Mining Secures $9.3 Million Registered Direct Offering From Institutional Investors – Mining Bitcoin News

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Bit Mining Limited has announced that it has entered a $9.3 million registered direct offering with specific institutional investors. Bit Mining explained that it aims to use the funds from the offering to expand infrastructure and invest in new mining machines. Bit Mining to Use Fresh Capital for Expansion, Mining Rigs, and Improving the Firm’s Working Capital Position The cryptocurrency mining operation Bit Mining Limited (NYSE: BTCM) has announced that it has entered a securities purchase agreement with institutional investors. Bit Mining operates crypto mining facilities, a mining pool, and…

Binance CEO Says Exchange Recovered $450 Million From the Curve Finance Attack – Bitcoin News

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Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from hackers. The decentralized finance (defi) platform Curve saw roughly $570 million siphoned from the application on August 9. Binance Boss Says Exchange Froze 83% of the Curve Finance Hack Funds, Domain Provider Says Exploit Was DNS Cache Poisoning Four days ago, the crypto community was made aware that the Curve Finance front end was exploited. Curve fixed the situation but $570 million was removed from the defi protocol. The attackers, however,…

India Freezes Peter Thiel-Backed Vauld’s Crypto and Bank Assets Worth $46 Million – Regulation Bitcoin News

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India’s Enforcement Directorate (ED) has frozen crypto exchange Vauld’s crypto and bank assets worth about INR 370 crore ($46,439,181). Vauld halted deposits and withdrawals last month. The Indian law enforcement agency is reportedly investigating more than 10 cryptocurrency exchanges. Indian Authority Freezes Another Cryptocurrency Exchange’s Assets The Enforcement Directorate (ED), a law enforcement and economic intelligence agency of the government of India, has frozen the assets of another cryptocurrency exchange. The agency announced Friday that it has conducted searches at various premises of Yellow Tune Technologies in Bangalore and has…

Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil – Exchanges Bitcoin News

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Picpay, a payments and wallet app, is now providing cryptocurrency services to more than 30 million users in Brazil. The company, that had announced this rollout last month, now allows its customers to purchase, hold, and sell digital assets from its platform. The organization partnered with Paxos, the issuer of the pax dollars stablecoin, in order to provide these services. Picpay Launches Crypto Trading Services in Brazil Fintech companies are introducing crypto as a way of getting their customers acquainted with cryptocurrency as an alternative investment opportunity. Picpay,…