This is especially true if they can leverage this with investors to juice a funding round. At one time, China was home to nearly 35,000 blockchain companies, according to publicly available corporate registration data. Of course many were firms jumping in by adding blockchain to their name to access development subsidies, as well as out-and-out … Read more
“Bitcoin price action remains weak, with some volatility seen on both sides, which is typical in pauses between trend continuations,” Joe DiPasquale, CEO of crypto asset manager BitBull Capital, wrote in an email to CoinDesk. “Currently, we expect BTC to see more downside action but we are also keenly watching the market’s reactions to assess … Read more
While Three Arrows Capital used its tens of billions of dollars of assets under management to invest in new projects and take large market positions, it also operated an over-the-counter trading desk called Tai Ping Shan (TPS) Capital. The entity was once described on LinkedIn as “the official OTC desk of Three Arrows Capital,” according … Read more
“This is a place where common sense has a really important role to play. You’ve got a situation now in which you have certain kinds of exchange traded funds, one that is focused on bitcoin futures, and the SEC has approved that, the SEC is given it the seal of approval,” he said. “In order … Read more
Sunny Aggarwal, the co-founder of the Cosmos-based Osmosis exchange, explained to CoinDesk, “Almost every rollup platform right now is all single operator – whether it’s Arbitrum, Optimism or StarkWare.” In other words, one company or computer, rather than a distributed network of node operators, is responsible for bundling up the transactions that eventually get passed … Read more
“Compass Mining was created to make mining easy and accessible,” said the statement. “The company recognizes that there have been multiple setbacks and disappointments that have detracted from that objective. Through this restructuring, the company is wholly focused on regaining the goodwill of the company’s stakeholders and the community, as well as delivering on the … Read more
According to Yusko, the FTX credit line proposal had a catch for BlockFi’s existing shareholders: It gave FTX the option to buy BlockFi “at essentially zero price.” If FTX were to exercise said option, it would effectively wipe out all of BlockFi’s existing equity shareholders, including management and employees with stock options, as well as … Read more
Goldman Sachs appears to be gauging interest and soliciting commitments from Web3 crypto funds, funds specializing in distressed assets and traditional financial institutions with ample cash on hand, according to a person familiar with the situation. The assets, most likely cryptocurrencies having to be sold on the cheap, would then likely be managed by participants … Read more
In contrast with exchanges Coinbase and Gemini, the derivatives platform plans to increase its staff. Bitget, a Singapore-based crypto derivatives exchange, plans to double its workforce over the next six months, just as other crypto firms are cutting back. The exchange plans to reach 1,000 employees by the end of the year, it said in … Read more
Aspen Creek Digital will also host miners from Galaxy Digital at its new data center in western Colorado. Despite the bear market for crypto, Aspen Creek Digital Corp., a new bitcoin miner, has started mining at a six-megawatts solar-powered facility in the western part of Colorado.Aspen Creek was founded in January, and its mining operation … Read more
