Paxos, a stablecoin issuer, has announced that it will stop producing new Binance USD (BUSD) tokens following the request of the New York Department of Financial Services (NYDFS).
The crypto lender Genesis Global Capital is in danger of going bankrupt. The crypto market is waiting in fear for another dump.
A report from Bloomberg on November 22 states that Genesis has $2.8 billion in unpaid debts on its balance sheet, with over 30% of those loans going to “related parties” such as its parent business Digital Currency Group and its affiliate and lending unit, Genesis Global Trading.
The Bahamian government is rumored to have connections with the FTX hacker’s dump of 50,000 ETH in exchange for BTC
The domino effects do not seem to end with the FTX exchange crisis as this exchange shows evidence of hacker attacks which drained large amounts of ETH in exchange for BTC.
An overview of the FTX crisis. The price of cryptocurrencies plummeted
FTX’s fall is causing a big shake in the crypto market pushing the price of BTC down to below $16k/BTC, a new 2-year low. The…
Do Kwon denied cashing out $67 million worth of Bitcoin
Do Kwon, the co-founder and CEO of Terraform Labs, has recently been the subject of reports in several media that Interpol and the South Korean…
What is cryptocurrency? How does it work?
Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments.
Cryptocurrencies are playing an increasingly important role in the Russia-Ukraine war
Cryptocurrencies have proven to play a new role in the Russia-Ukraine war, with millions of dollars being donated to Ukrainians. Meanwhile, in response to EU…
Warren Buffett’s holding company, Berkshire Hathaway, invests $1 billion in the crypto-friendly digital bank
According to an SEC filing dated February 14, in the fourth quarter of 2021 the Warren Buffett-owned holding company purchased a $ 1 billion stake…
Coinbase QR code Super Bowl ad made history
The Super Bowl is the annual playoff championship game of the National Football League (NFL), which draws a large audience both inside and beyond the…
Bitcoin’s price falls far short of expectations. Kraken’s CEO: “Maybe I’ll stop making predictions”
When being asked if the crypto winter was going back, Kraken’s CEO did not object, but did say that it was a possibility. Jess Powell had…
