Tag: Report

Bitcoin miners hedging with recent sell-offs: Bitfinex report

Bitcoin (BTC) mining companies are employing derisking strategies by offloading BTC to exchanges, according to a market report from Bitfinex. The cryptocurrency trading platform’s latest newsletter addresses the Bitcoin mining sector at length, highlighting a recent surge in miners selling large volumes of BTC to exchanges. This has led to a corresponding increase in the value of shares in Bitcoin mining companies as institutional interest in BTC picks up in 2023. The report notes that Poolin has accounted for the highest amount of BTC sold to the market in recent…

Polychain Capital, Coinfund raise $350M for new crypto funds: Report

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Over $350 million has been raised by crypto venture capital firms Polychain Capital and Coinfund, whirespective reported raises of $200 million for a new investment fund and $152 million for a seed fund. A July 18 Forbes report said Polychain’s $200 million sum was raised in the “first close” of its fourth investment fund, according to sources familiar with the matter. The close means Polychain has now signed agreements with investors and can begin issuing funding to startups and projects. Despite the significant raise, Polychain still intends to raise $400…

Coinbase CEO will meet with US lawmakers to discuss crypto legislation: Report

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Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is reportedly planning to meet with members of Congress to discuss digital asset legislation and related issues. According to a July 17 Bloomberg report, Armstrong has a scheduled meeting with the New Democrat Coalition, a group of roughly 100 Democrats in the House of Representatives focused on advancing “innovative, inclusive, and forward-looking policies.” The Coinbase CEO will reportedly speak with the lawmakers on digital asset legislation as well as how the technology could potentially impact national security, privacy and the…

Venture Capital Funding to Web3 Plummets 76%, Crunchbase Report Shows

Web3 was defined by Crunchbase as cryptocurrency and blockchain startups, which have been hit hard by the ongoing crypto winter. While VC funding has slowed overall, with Crunchbase reporting an 18% drop across all sectors in the second quarter of 2023, crypto-related funding has had a much steeper decline. Meanwhile artificial-intelligence (AI) startups have become the new shiny object for investors, seeing $25 billion in funding in the first half of 2023. Source

Nearly one-third of bitcoin’s circulating supply possibly lost: report

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Recent data from blockchain analytics company IntoTheBlock indicates that approximately 29% of the total Bitcoin supply, which has remained stagnant for over five years, might be lost forever. Fresh data unveiled by the blockchain analytics firm, IntoTheBlock, reveals that close to 29% of Bitcoin’s total circulating supply might be lost forever, showing no signs of movement for over five years. This highlights an inherent attribute of Bitcoin (BTC) – its scarcity – as only 21 million…

Binance cuts back on employee benefits, citing ‘decline in profit’: Report

Global cryptocurrency exchange Binance reportedly cut back on certain benefits to its employees in June amid reevaluation efforts at the firm. According to a July 17 report from The Wall Street Journal, Binance said it had stopped offering reimbursement to employees for certain expenses including use of mobile phones, fitness, and working from home. The crypto exchange reportedly cited the “current market environment and regulatory climate” which lead to a “decline in profit”, suggesting more cost-cutting measures may be needed. The report followed one suggesting Binance had let go of…

Binance cuts back on employee benefits, citing ‘decline in profit’: Report

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Global cryptocurrency exchange Binance reportedly cut back on certain benefits to its employees in June amid reevaluation efforts at the firm. According to a July 17 report from The Wall Street Journal, Binance said it had stopped offering reimbursement to employees for certain expenses, including the use of mobile phones, fitness and working from home. The crypto exchange reportedly cited the “current market environment and regulatory climate,” which led to a decline in profit, suggesting more cost-cutting measures may be needed. The report followed one suggesting Binance had let go…

Ripple CLO says court ruling could encourage banks to adopt XRP: Report

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Stu Alderoty, the chief legal officer for Ripple Labs, has reportedly said United States-based banks may turn to XRP for cross-border transactions following a recent court ruling. According to a July 17 CNBC report, Alderoty expressed confidence that U.S. banks and financial institutions could begin exploring XRP for use in cross-border payments. The Ripple CLO reportedly made the statement less than 24 hours after a federal judge in the firm’s case against the U.S. Securities and Exchange Commission (SEC) ruled the XRP token was not necessarily a security. “I think…

AI systems used in deadly military operations in Israel: Report

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As tensions rise in the occupied territories and with Iran, the Israel Defense Forces are reportedly utilizing artificial intelligence (AI) to choose targets for air strikes and manage logistics during wartime. According to a Bloomberg report, officials in the Israeli military confirmed the use of an AI recommendation system by the military. This system reportedly analyzes vast amounts of data to assist in target selection for air strikes. Additionally, the Fire Factory, another AI model, reportedly swiftly assembles subsequent raids by calculating munition loads, prioritizing and assigning targets and proposing…

US ‘dominates’ crypto startup funding in Q2: Report

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Despite facing regulatory scrutiny in the United States, crypto firms continue to innovate, with nearly half of all capital investments flowing towards U.S. crypto businesses, according to a recent report. Published by crypto investment firm Galaxy Digital on July 14, the report stated that US-based crypto start-ups had a significant share of interest from venture capital firms. “US-based crypto startups accounted for more than 43% of all deals completed and raised more than 45% of the capital invested by VC firms.” This was followed by the United Kingdom claiming 7.7%…