Stocks have overtaken fundamentals and could soon fall back, QCP said.
CoinDesk
Bitcoin Mining Firm Iris Energy Might Fail To Pay Off Its Loans
Several unfortunate cases are springing up in the Bitcoin and crypto ecosystem. The main reason for these adverse events comes down to the current bearish trend of the cryptocurrency market. Regardless of experts’ optimistic predictions, investors are still skeptical about future investments.
Some crypto firms seek ways to sustain their staff and clients. Others are ensuring they don’t run out of funds before the end of 2022. One example of such companies is the Bitcoin miner Iris Energy.
Iris Energy is a Bitcoin mining firm based on its data center infrastructure. It aims to power operations by accessing under-utilized or abundant renewable energy.
Portland Trail Blazers Cut Jersey Patch Partner Deal With Staking Firm StormX
Amidst CeFi chaos, it’s been a relatively quiet year for Seattle-based staking platform, StormX. Despite signing a multi-year deal jersey patch sponsorship with the NBA’s Portland Trail Blazers last year, that deal has come to a close according to the team on Friday. StormX is yet to comment on the matter.
Let’s review the brief details that we’re hearing through the wire in the last 24 hours regarding the matter, and how things got to this point.
StormX: Past And Present
Crypto Firm Hydrogen Tech Faces SEC Charges For Selling Unregistered Securities
The cryptosphere has one of its entities running into some major issues with the regulators.
The U.S. Securities and Exchange Commission has been quite busy these days going after companies. This time, it has its whip readied against crypto firm Hydrogen, who it accuses of selling unregistered securities.
Hydrogen’s market maker Moonwalkers Trading and its CEO Tyler Ostern and Michael Ross Kane, former Hydrogen CEO, are included in the charges for alleged manipulation of crypto assets.
According to the press release on September 28:
Crypto Trading Firm Wintermute Has Suffered $160 Million Hack
Crypto trading platform Wintermute has just lost $ 160 million in a hack which concerns its decentralised finance (DeFi) operation.
This news was confirmed through a tweet from the company’s founder and CEO, Evgeny Gaevoy.
This makes Wintermute the latest firm within the industry to have suffered a hack. A series of tweets by Gaevoy has revealed that the prominent trading firm’s decentralised financial operations have been breached.
He also clarified that the centralised finance and over-the-counter verticals had not been compromised in the hack.
World’s Largest Bitcoin ATM Firm To Go Public On The Nasdaq
Bitcoin Depot is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $ 855 million SPAC deal.
- Bitcoin Depot is set to become a publicly-traded company on the Nasdaq under ticker symbol BTM.
- The bitcoin ATM firm currently operates over 7,000 ATMs across the U.S.
- The company will list through a SPAC deal worth $ 855 million with GSRM.
Bitcoin Depot, the world’s largest provider of bitcoin ATMs according to data from Coin ATM Radar, will go public on the Nasdaq through an $ 885 million deal with a special-purpose acquisition company (SPAC), according to a Thursday press release.
Polygon Founder’s Crypto VC Firm Raises $50M Fund
Symbolic Capital plans to back early-stage Web3 projects
CoinDesk
BBC Chairman Buys Share In Crypto Firm Despite Crypto Winter
A recent report connected the BBC Chairman, Richard Sharp, to a crypto company founded by a Russian oligarch. Sharp, a former banker, is said to have invested in cryptocurrency business using a foreign firm. The said firm was founded by one of the Russian oligarchs and was recently sanctioned due to the Russian-Ukraine war.
The Guardian reported Sharp’s investment in Atomyze, a Swiss crypto firm, in 2019. According to the report, the chair of the British Broadcasting Corporation used a firm known as ABCP GP Ltd for his investment.
Fintech Firm Revolut Unfazed By Bear Market, Hires 20% More Crypto Talent
Fintech company Revolut continues its cryptocurrency campaign with intentions to boost its digital currency team by 20%, undeterred by the bear market’s continuous fragility.
Across the next six months, the British fintech startup wants to expand its crypto-focused employees in the United States, the United Kingdom, and Europe.
The fintech company is seeking 13 posts connected to cryptoassets, including computer programmers and financial compliance and crime prevention specialists.
UK Fintech Revolut On Hiring Spree
Revolut has 230 vacant roles across multiple divisions and works as a cryptocurrency trading platform that trades more than 80 coins.
Crypto Intelligence Firm Messari Acquires Web3’s Version of Crunchbase
Dove Metrics, a provider of crypto fundraising data, was picked up for undisclosed financial terms.
CoinDesk
Chicago Based Brokerage Firm M1 Finance To Render Crypto Trading Services
The bear market has left a sour taste for crypto investors, and most are worrying about the current trend in the market. Many firms are also fighting to sustain operations amid issues of insolvency, liquidity shortage, and compulsory workforce downsizing.
But even with all these issues, innovations and developments keep emerging, proving that the industry is not dead. One recent notable development is the plan to create accounts and trading services by M1 Finance.
The online brokerage company plans to expand its operations by including these two services. According to the team, the launch will likely occur in some weeks. M1 Finance has been operating since 2015, and according to them, the firm now has above $ 5 billion AUM (assets under management).
Blockchain Gaming Stands Firm As Crypto Market Staggers
Investments in blockchain initiatives have been patchy, but GameFi is one industry that is sustaining development despite the market’s decline.
The blockchain gaming industry has quietly weathered the storm better than other market segments, despite the fact that the majority of investors are focused on the most recent scandals involving centralized finance (CeFi) and decentralized finances (DeFi)
Blockchain Gaming Triumphs
The blockchain gaming sector has grown by 2,000% since the first quarter of 2021, according to a recent data by DappRader and BGA Games, and it now accounts for more than half of all blockchain activity.
South African Firm Raises $150 Million To Introduce Crypto Water Tokens Dubbed H2ON
H2O Securities, an infrastructural firm based in South Africa, generated $ 150 million to introduce crypto water tokens. The company landed the funds from the investment of GEM Digital, a global investment company.
According to the operational plans of H2O Securities, funds from the water token launch are solely for infrastructural purposes. The company would use it to facilitate water supplies to places that lack adequate fresh water. The launch of this token marks the world’s first cryptocurrency water token to exist.
Related Reading | NFT Volume Down 93% Since January, Is This The Beginning Of The End?
Japan’s Largest Bitcoin Lightning Community Partners With Top Tokyo Real Estate Firm
Japan’s largest Lightning Network community Diamond Hands is partnering with a top real estate firm in Tokyo for a joint-research project to further adoption.
- The largest Lightning community in Japan, Diamond Hands, is partnering with one of the largest real estate firms, Open House Group, in Tokyo for a joint-research project.
- Open House will research leveraging the Bitcoin Lightning Network for real estate transactions in the region.
- The real estate company will also look to build out infrastructure practices for businesses in the area looking to adopt the Lightning Network.
Libra’s Dirty Secret: Blockchain Firm Claims Facebook Stole its Crypto Model
By CCN Markets: Blockchain company Hedera took an ad out in this morning’s Wall Street Journal thanking Facebook for flattering them with their copycat governance model. The ad reads: “Thank you Facebook Libra. Imitation is the sincerest form of flattery.” Facebook: Stealing Logos and Governance Models Since 2018 The move brings to mind Apple’s 1981 Wall Street Journal jab at IBM: It then features a classic Facebook “thumbs-up” like symbol. Hedera is a company built on the Hashgraph distributed ledger technology – the relationship is similar to Charles Hoskinson’s IOHK and Cardano. Interested readers can sign up for a testnet
‘Big Four’ Firm PwC Unveils Tool to Audit Clients’ Cryptocurrency Transactions
By CCN Markets: Big Four accounting firm PricewaterhouseCoopers (PwC) is expanding into the cryptocurrency audit business with the launch of a new solution. The firm is expanding its “Halo” suite of auditing tools to provide audit and assurance services to those clients that deal in crypto. According to PwC’s press release: “PwC can currently use this tool to provide assurance services to clients transacting in Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, ERC20 – OAX token, and Ripple (XRP).” PwC is enabling cryptocurrency adoption PwC’s crypto solution is proof that we are moving toward mainstream adoption of digital
Bitfury, Tech Firm Mphasis Plan Blockchain Disruption in Trade Finance
Blackstone-owned IT firm Mphasis has partnered with blockchain tech firm Bitfury to automate and tokenize trade finance processes.
CoinDesk
Facebook (FB) Quietly Registers Swiss Firm for Its Libra Crypto Platform
Facebook (FB) has quietly been making significant strides on its internal cryptocurrency initiative, with the latest move taking place earlier this month in Europe. According to a recent report by Reuters, the new fintech firm, Libra Networks, was registered in Geneva on May 2 as a subsidiary of Facebook Global Holdings. Reuters notes the filing shows […]
SludgeFeed
ConsenSys Ventures Managing Partner Kavita Gupta Leaves the Firm
Kavita Gupta, the managing partner of ConsenSys Ventures, the venture arm of ConsenSys originally bankrolled with $ 50 million by Joseph Lubin, has reportedly left the firm. Gupta was tagged to lead the Ethereum-focused fund when it launched in 2017 and, over her tenure, has invested in startups ranging from BlockFi to Tenta Browser. I guess […]
SludgeFeed
We.Trade Co-Founder Mancone Is Leaving the Enterprise Blockchain Firm
Roberto Mancone is leaving we.trade, the live trade finance blockchain platform which he helped grow into a legal entity comprising 14 banks.
CoinDesk
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