Tag: Million

Nigerian Mobility Fintech Secures $20 Million From British Development Finance Institution – Fintech Bitcoin News

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A Nigerian fintech, Moove, recently secured a $20 million investment from British International Investment (BII). Moove said the funds will be used to democratize access to vehicle ownership in Africa. Credit Extended Based on Drivers’ Performance and Revenue Analytics The British development finance institution (DFI), British International Investment (BII), recently said it had invested $20 million in the Nigerian mobility fintech Moove. According to a statement released by the institution (formerly CDC Group), the 4-year structured credit investment is a reflection of BII’s “focus on mobilizing capital to build self-sufficiency…

Insurance Company Sued for Refusing to Cover $7.5 Million Bitcoin Ransom Payment – Featured Bitcoin News

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A British jeweler has sued its insurance company for refusing to cover a bitcoin ransom payment of $7.5 million. The jeweler paid the hackers to prevent sensitive customer data from being published. Insurance Company Faces Lawsuit for Refusing to Cover Bitcoin Ransom Payment A luxury British Jeweler, Graff, has sued its insurer, The Travelers Companies, for refusing to cover a ransom bitcoin payment, Bloomberg reported last week. The jeweler paid a bitcoin ransom of $7.5 million to the Russian hacking gang Conti after the group threatened to leak data of…

Rebase Token Economy Dropped From $8 Billion to $577 Million in 7 Months – Markets and Prices Bitcoin News

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Seven months ago, the top rebase crypto tokens by market capitalization were collectively worth $8.03 billion and since then, the entire rebase token economy has lost more than 92%, dropping to $577 million. Olympus has dropped 99% since the asset’s all-time high (ATH), klima dao shed 99.9%, and wonderland is down 99.8% from its ATH. Elastic Rebase Tokens Fall Short of Expectations, Sliding 92% Since November 2021 Last year when the bull run started, rebase tokens were becoming extremely popular and their fiat values jumped a great deal toward the…

CoinFLEX to begin arbitration for $84 million recovery and open limited withdrawals

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Crypto investment platform CoinFLEX is moving forward with its plan to reclaim $84 million in funds by starting arbitration procedures in Hong Kong against an individual account holder. Co-Founders Sudhu Arumugam and Mark Lamb acknowledged in their July 9 announcement that the judgment would provide access to the individual’s “worldwide assets” and that their lawyers were “very confident” they could enforce the award. “We have commenced arbitration in HKIAC for the recovery of this $84m as the individual had a legal obligation under the agreement to pay and has refused…

Ethereum Devs Delay Difficulty Bomb — ETH 2.0 Contract Surpasses 13 Million Ether Deposits – Technology Bitcoin News

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On June 30, Ethereum developers delayed the network’s difficulty bomb via the Gray Glacier update, which means The Merge won’t happen at least until September 2022. Meanwhile, there’s now more than 13 million ethereum locked into the Beacon Chain worth $15.8 billion using today’s prices. More Than 13 Million Ether Worth $15.8 Billion Deposited Into the Ethereum 2.0 Contract This week the ETH 2.0 contract has seen a total of more than 13 million ETH deposited and there are now 406,640 validators. In time, the Ethereum (ETH) blockchain is expected…

Cardano ‘sharks’ scoop up 79.1 million ADA ahead of Vasil hard fork

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The decline in Cardano (ADA) price this year has prompted some of its richest investors to accumulate the token. Cardano sharks in buying spree Notably, addresses holding between 10,000 and 100,000 ADA, also called “sharks,” have added 79.1 million tokens (~ $37.7 million as of July 9) to their reserves since June 9, according to data from Santiment. Cardano shark addresses. Source: Santiment Meanwhile, Cardano “whales” that hold between 100,000 and 1 million ADA have stopped selling. Holding a larger amount of ADA makes sharks and whales powerful enough to…

Blockchain.com CEO Reveals Company Lost $270 Million From 3AC Exposure – Bitcoin News

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According to a report published on July 8, the cryptocurrency firm Blockchain.com lost $270 million from exposure to the crypto hedge fund Three Arrows Capital (3AC). The news was shared in a recent letter to shareholders written by the company’s CEO Peter Smith. The Blockchain.com executive stressed that the firm “remains liquid, solvent and our customers will not be impacted.” Blockchain.com Lost $270 Million From 3AC Exposure — CEO Says Company ‘Remains Liquid and Solvent’ Another crypto company has revealed losses stemming from being exposed to Three Arrows Capital Ltd.…

Crypto Traders Lose $280 Million Following Bitcoin’s Break Above $22,000

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As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery. More Than 65,000 Traders Rekt As of Friday morning, data from Coinglass shows that more…

Total BAYC thefts crack $18.5 million, “Ape Now, Pay Later” loans come for NFTs and more

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A Dune analytics platform user has found that more than $18.5 million worth of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) Nonfungible tokens (NFTs) have been marked as stolen or flagged for suspicious activity on Opensea to date.  According to data from Dune, a user known as “Beetle” discovered that 130 BAYC and 268 MAYC NFTs were reported for suspicious activity, alongside 153 Azuki’s, 202 CloneX and 70 Moonbirds. The total market worth of stolen NFTs from these notable collections amounts to just over $25 million.…

Discussion Platform Reddit Introduces Blockchain-Backed Collectible Avatars to 52 Million Users – Blockchain Bitcoin News

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The social media and discussion website Reddit has announced the launch of blockchain-backed collectible avatars. The collectible avatars are stored via the Polygon blockchain as the chain was chosen for its “low-cost transactions and sustainability commitments.” Reddit’s Polygon-Backed Digital Avatars Will Soon Be Available to the General Public On July 7, 2022, the staff at Reddit announced the launch of blockchain-backed Reddit avatars that are stored on the Polygon network. It’s not Reddit’s first rodeo with blockchain technology as the social media and discussion platform was working with Arbitrum’s layer…