Bitfarms, a company that mines for Bitcoin (BTC), has fulfilled its financial obligations to BlockFi, putting an end to the short-lived commercial agreement that it had with the now-defunct cryptocurrency lender. Bitfarms said on February 9 that it has completed its debt obligations to BlockFi in the sum of $21 million in return for a … Continue reading Bitfarms Settles Debt with BlockFi
At this point, Ethereum co-founder Vitalik Buterin has made at least two significant donations to aid the victims of the earthquake that struck Turkey and Syria a week ago. The earthquake with a magnitude of 7.8 occurred on February 6th. The current death toll is at 33,000, making it one of the worst disasters the … Continue reading Ethereum Co-Founder Vitalik Buterin Donates 50 ETH
Circle is a Boston-based fintech company that provides payments and investment services using blockchain technology. USDC is a stablecoin issued by Circle and Coinbase, pegged to the value of the US dollar at a 1:1 ratio. It is one of the fastest-growing stablecoins, with a market capitalization of over $10 billion as of March 2022. … Continue reading Circle Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off
The Aave decentralized autonomous organization (DAO) has passed a proposal called “Rescue Mission Phase 1 Long Executor” to recover lost tokens for some users who mistakenly sent them to certain token contracts in the past. This proposal authorizes Aave developers to upgrade the smart contracts and send the lost tokens back to their original owners … Continue reading Aave DAO Passes Proposal to Recover Lost Tokens
JPMorgan Chase is poised to acquire the assets of First Republic Bank (FRB), after regulators closed the bank on May 1. JPMorgan and several other banks had submitted bids to acquire the troubled bank’s assets after early efforts to rescue it failed. As part of the purchase and assumption agreement with the FDIC, JPMorgan will … Continue reading JPMorgan to Acquire First Republic Bank Assets
On July 28, 2023, the Kansas Office of the State Bank Commissioner closed Heartland Tri-State Bank of Elkhart, Kansas, appointing the Federal Deposit Insurance Corporation (FDIC) as receiver. This closure marks another chapter in the ongoing banking crisis in the United States, following the recent failures of First Republic, Silicon Valley Bank, and Signature Bank. … Continue reading Kansas Heartland Tri-State Bank Closure Indicates Continued U.S. Banking Crisis
In a recent meeting, China’s Central Political and Legal Affairs Commission has emphasized the need for a systematic, legal, and source-based approach to combat overseas telecom network fraud and related criminal activities. The announcement was made on August 6, 2023, as reported by the Economic Daily. The commission pointed out that fraud groups have been … Continue reading China Targets Overseas Telecom Fraud Leveraging Blockchain, Crypto, Metaverse, and AI
Core Scientific, a significant Bitcoin miner, has provided a comprehensive description of its bankruptcy plan, which has been approved by the court and will enable the firm to emerge from Chapter 11 bankruptcy. The proposal for the reorganization, which is scheduled to go into effect on January 5, 2024, entails considerable changes to both the … Continue reading Core Scientific's Bankruptcy Exit: Financial Revival and Operational Expansion