Crypto miner Hut 8 said it has secured a $50 million credit facility with Coinbase Credit. The North American crypto miner said in a statement that it plans to utilize the loan funds for “general corporate purposes.” Thus, giving it more leeway financially and allowing it to better manage its
June 27, 2023 2 mins read
According to reports, Chinese IT giant Alibaba Cloud has partnered with the non-profit NEAR Foundation which developed the decentralized platform NEAR Protocol to promote Web3 throughout Asia and the Middle East. The native token of the ecosystem, NEAR, had its value increase by more than 13 percent following the announcement.
June 26, 2023 2 mins read
Prosecutors in Switzerland were urged by the US Securities and Exchange Commission (SEC) and the New York Federal Prosecutors Office to seize cryptocurrency and fiat cash held by digital asset bank Sygnum on behalf of Terraform Labs and its co-founder Do Kwon. Dentons, the elite legal firm representing Terraform Labs
June 26, 2023 2 mins read
CryptoPunks, which launched six years ago and sparked the NFT art trend while also serving as a blueprint for several subsequent other initiatives, is publishing its own official book. Yuga Labs, the owner of the CryptoPunks IP, has announced a new collaboration with Zak Group, the design company behind Nike’s
June 24, 2023 1 min read
South Korean telecom giant KT, previously known as Korea Telecom, has announced its intention to spend $5.3 billion (7 trillion won) in AI service research and development spanning over the next five years. Thus, solidifying its position as a forerunner in the area amid the AI industry’s fast expansion. KT
June 24, 2023 2 mins read
South Korean cryptocurrency investment platform Haru Invest reportedly fired off more than 100 employees. On June 23 the layoffs will be formalized. Several days after suspending deposits and withdrawals owing to a problem with one of its service suppliers. The firm made this decision. Recent reports state that Haru Invest
June 22, 2023 1 min read
The MakerDAO team, creators of the DAI stablecoin, recently announced the successful completion of a $700 million USD Treasury bond purchase. The project said in a press statement that it now has a total bond allocation of $1.2 billion. MakerDAO has already proposed raising the debt cap for MIP65 from
June 22, 2023 1 min read
On Wednesday, Bitcoin and Ethereum values touched their highest point in six weeks, marking a general resurgence in the cryptocurrency market. In the previous day, the price of Bitcoin has increased by 8% to over $29,000, while the price of Ethereum has increased by 6% to over $1800. Meanwhile, in
June 21, 2023 1 min read
Despite the electric vehicle (EV) titan reaching eight-month highs and up over 28% in June, the Cathie Wood-led Ark Invest business cut large Tesla stock holdings on Tuesday. The investment management business received $8.6 million in exchange for selling 31,500 of Elon Musk’s Tesla shares. Ark Invest, led by Cathie
June 21, 2023 1 min read
Joseph Tsai has been named the next Chairman of Alibaba Group, a Chinese technology corporation specializing in e-commerce, succeeding Daniel Zhang. The Taiwanese-Canadian business mogul is worth billions of dollars. And his name has been attached to a number of other cryptocurrency and digital asset-related endeavors. Blue Pool Capital, the
June 20, 2023 1 min read
