Tag: Report

Core Scientific may consider bankruptcy following uncertain financial condition: Report

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Bitcoin mining firm Core Scientific is reportedly considering a potential bankruptcy amid a group of its convertible bondholders consulting restructuring lawyers. According to a Nov. 1 report from Bloomberg Law, the Core Scientific bondholders worked with legal firm Paul Hastings following a United States Securities and Exchange Commission filing suggesting financial distress. The Oct. 26 filing indicated that the mining company was unable to meet its financial obligations in late October and early November, citing the low price of Bitcoin (BTC), rising costs of electricity, an increase in the global…

US Tether Bank Fraud Investigation Changes Hands Within the DOJ: Report

Responding in a blog post published Monday, Tether said it is in open dialogue with law enforcement agencies, “helping the department … with some of the biggest cybercrime and national security cases in the country” and added that “Tether executives have had no interaction with the DOJ in connection with any investigation for well over a year and the DOJ does not appear to be actively investigating Tether.” Source

Crypto Exchange Binance Wants To Collaborate With Elon Musk on Running Twitter: Report

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The world’s largest crypto exchange by volume is reportedly creating a new team to help tech billionaire Elon Musk incorporate blockchain technology into Twitter’s business model. According to a new report by Reuters, Binance is planning to help the business magnate determine how crypto assets could be integrated into Twitter. Binance pledged to invest $500 million into Twitter earlier this year when the exchange heard about Musk’s plans to acquire it. Binance’s team will reportedly look into finding crypto-based solutions to stifle the many issues Twitter has had over the…

Crypto Exchange FTX Plans To Develop a Stablecoin, Says CEO Sam Bankman-Fried: Report

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The Bahamas-based crypto exchange FTX could soon develop its own stablecoin, according to the firm’s chief executive, Sam Bankman-Fried. In a new interview with European Web3 media company The Big Whale, Bankman-Fried teases the possibility that FTX could make moves on issuing a stablecoin soon. “We’ve held off on doing it because I think to some extent we think that collaboration on that could be really powerful, and with us trying to find the partners that we’d be really excited to work with there. But I think you’ll probably be…

October sees lowest-ever daily trading volume for crypto products: Report

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As the crypto market shows signs of a gradual recovery, with Bitcoin (BTC) holding above the psychologically important $20,000 level after its initial crash to $17,600 in June, this month still sets a record low for an average daily aggregate product volume across all digital asset investment products.  According to the report from CryptoCompare, published on Oct. 27, the average daily trading volume of institutional crypto products had fallen 34.1% — to $61.3 million in October. Almost all the products covered in the report recorded a large decline in average…

Fidelity report shows resilience to crypto winter, huge adoption gap among investors

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Fidelity Digital Assets released its annual study on institutional investment in digital assets on Oct. 27. Digital asset fundamentals remain strong despite headwinds, the study concludes, but adoption remains highly uneven among different types of investors.  In its survey of 1,052 institutional investors in Asia, Europe and the United States, Fidelity found digital asset adoption was up in the U.S. and Europe by 9% and 11%, respectively, to 42% and 67%. Asia experienced a slight decline in adoption but remained the leader at 69% regardless. One of the biggest jumps…