Bitcoin millionaires ‘drop like flies’ as FTX fallout shakes crypto market Crypto collapse The number of bitcoin millionaires has plunged and scammers have filled their boots in the past year as the market is gripped by a ‘crypto winter’, brought on by soaring inflation and a string of high profile bankruptcies.
Elon Musk’s year in Tweets: Ukraine, buying Twitter, Trump, Bitcoin and blue ticks TWITTER TROUBLE Elon Musk’s time as Twitter CEO has been controversial. Even before his purchase of the social media platform, the business magnate and investor was an avid Twitter user. After a turbulent year online – and off – we have done the painstaking task of trawling through the Tesla billionaire’s feed, for high (and low) points [...]
Crypto exclusive: Nexo users do not have ‘unfettered’ right to withdraw holdings, exchange says Exclusive Crypto exchange Nexo has said its customers do not have the “unfettered” right to withdraw their cryptocurrencies from its platform, as it seeks to defend itself from a High Court lawsuit. Instead, Nexo said its customers only have the right to “request” withdrawals, as the exchange said it retains the right to reject any customer [...]
Nexo sued by investors prevented from withdrawing £107m crypto holdings in full November 21, 2022 A family of fintech entrepreneurs are suing a leading crypto exchange over claims it blocked them from withdrawing funds and then intimidated them into selling them back to the company at a discount. The three crypto investors have filed a High Court lawsuit against London headquartered Nexo over claims it stopped them from withdrawing more [...]
FTX collapse may be ‘best thing ever to happen to crypto’, argues Scotcoin chief November 14, 2022 As the crypto space is rocked by the aftermath of last week’s FTX collapse, exchanges are rushing to calm investors’ fears. FTX and Alameda have now filed for chapter 11 in the United States – and about time, according to Temple Melville, the CEO of the Scotcoin Project Community Interest Company. He told City A.M. [...]
Crypto-friendly Rishi Sunak means a major boost for Bitcoin Britain October 27, 2022 Rishi Sunak has become the UK’s third prime minister in three months. The new Tory leader is an interesting one from a crypto point of view. As finance minister, Sunak famously ushered in the Financial Services and Markets Bill earlier this year, aiming to bring stablecoins into the UK payments system. He said at the [...]
Shares tank 15 per cent for Argo Blockchain as it pens new crypto mining agreement October 7, 2022 Shares plunged nearly 15 per cent for Argo Blockchain after the cryptocurrency mining giant penned an agreement with an undisclosed party to host and operate mining machines at its Helios facility in Texas. Up to 32 megawatts of power capacity will be provided by the company, which is roughly enough to power over 10,000 mining machines. In [...]
Criminals turn to cross-blockchain tools to hide billions in cryptocurrencies October 4, 2022 Criminals are using complex new blockchain technologies to hide and launder billions in ill gotten gains. At least $4bn (£3.6bn) worth of illicit crypto-assets has been laundered via various “cross-chain” technologies, that let both legitimate and illegitimate users move funds between blockchains, analytics firm Elliptic said. Decentralised exchanges (DEXs), cross-chain bridges, and coin-swap services are [...]
Digital gold or fool’s gold: is crypto really a hedge against equity risk? September 14, 2022 | City Talk Crypto enthusiasts often claim that digital coins and tokens are uncorrelated with equities and can provide a safe haven amid stock market crashes. The assumption is that cryptoassets will act like “digital gold,” serving as a hedge against equity risk and helping investors ride out such downturns. Such bold claims beg for examination, especially amid [...]
Mastercard strikes deal with Binance to launch crypto payments card August 24, 2022 Mastercard is set to launch a cryptocurrencies payments card, after striking a deal with Binance, the world’s largest crypto exchange. The crypto debit card will let users pay for everyday purchases using various cryptocurrencies, including Bitcoin, that they have stored in their Binance accounts. The payments card, which converts cryptocurrencies into fiat currency, is set [...]