Author: Karikari Daniel

Article written by Karikari Daniel

Circle Prepares for Growth with 25% Workforce Expansion in 2023

February 24, 2023 1 min read

Circle, the issuer of the USDC stablecoin, has announced plans to increase its workforce by up to 25% in the coming year, according to a recent report by the Wall Street Journal (WSJ). The decision comes despite Circle canceling its deal to go public due to missed deadlines to submit required files to the Securities and Exchange Commission. Although the merger deal fell through, Circle had reportedly raised around $400

Spotify Explores Blockchain with Token-Based Music Playlists

February 23, 2023 1 min read

Music streaming platform Spotify is piloting a new service called “token-enabled playlists,” which will allow non-fungible token (NFT) holders to connect their wallets and listen to curated music. Currently, the service is only available to token holders within the Fluf, Moonbirds, Kingship, and Overlord communities, with the curated playlists actively updated during the three-month testing period. The playlists can only be accessed by community members via a unique link. The

Charles Hoskinson defends Cardano against “cult” allegations

February 22, 2023 1 min read

Cardano (ADA) founder Charles Hoskinson has recently come under fire for suggesting contingent staking as a solution to help the cryptocurrency industry meet regulatory requirements. Some critics have also referred to the Cardano community as a cult, which Hoskinson has vehemently denied. In a tweet posted on February 21, Hoskinson addressed the attacks on his views and the Cardano community as a whole. He emphasized that contingent staking was only

US regulatory crackdown results in $32 million in digital asset outflows

February 21, 2023 1 min read

The regulatory crackdown in the United States may have given institutional investors the chills, as digital asset investment products experienced the biggest weekly outflow of 2023. The largest outflow of the year, $32 million, was recorded in the last week for digital asset investment products, according to a report by institutional crypto fund manager CoinShares on February 20. The move comes as the Securities and Exchange Commission intensifies what market

Former FTX executive Nishad Singh in talks to plead guilty to fraud charges

February 20, 2023 1 min read

Former FTX executive Nishad Singh is reportedly negotiating a guilty plea deal with Manhattan prosecutors over his involvement in fraud charges related to the cryptocurrency exchange’s collapse last November. Bloomberg reported on Friday that Singh may plead guilty to the charges, putting additional pressure on FTX’s former CEO and founder Sam Bankman-Fried, who pleaded not guilty to an eight-charge indictment related to the bankrupt exchange. The U.S. Securities and Exchange

Binance Shifts $400M from US Partner to CZ-Affiliated Company

February 17, 2023 1 min read

Binance, the world’s largest cryptocurrency exchange, has reportedly accessed a bank account belonging to its U.S. partner without authorization. According to Reuters, the unauthorized access enabled Binance to transfer large sums of money from the U.S. partner’s account to a trading company controlled by its CEO, Changpeng Zhao, also known as CZ. Banking records and internal messages obtained by Reuters show that more than $400 million was transferred from an

Bitcoin Magazine Ukraine Unveils Debut Print Edition

February 16, 2023 1 min read

Bitcoin Magazine Ukraine has announced the release of its first printed publication, “Bitcoin. Freedom. Ukraine.” This marks a significant milestone for the publication as it expands from its online platform to the print media landscape. The magazine’s first issue is dedicated to Bitcoin and its decentralized technology, providing readers with a comprehensive dive into the Bitcoin rabbit hole. The issue will also feature a first-of-its-kind rating of bitcoin owners in

UK FCA to Crack Down on Illegal Crypto ATMs

February 15, 2023 1 min read

The Financial Conduct Authority (FCA) is taking a hard line on unregistered cryptocurrency automated teller machines (ATMs) in the United Kingdom. The FCA and the cyber team at West Yorkshire Police have targeted several sites in and around Leeds city, which are suspected of illegally hosting crypto ATMs. The FCA emphasizes that none of the crypto ATM operators in the United Kingdom have registered with the FCA, and all crypto

GMX on Arbitrum Blockchain Overtakes Ethereum in Daily Fees

February 14, 2023 1 min read

GMX, a decentralized finance (DeFi) exchange, generated over $5 million in fees in a 24-hour period over the weekend, temporarily overtaking the Ethereum blockchain as the largest revenue generator in DeFi. The exchange has accrued over $120 million in total fees since September 2021. The fees are shared between GMX’s two tokens, gmx and glp, with gmx accruing 30% and glp accruing 70% of the generated fees. Some attributed a

3AC and CoinFLEX Unveil Website for Crypto Claims Trading

February 13, 2023 1 min read

A new crypto exchange project by 3AC and CoinFLEX is making waves in the crypto industry with the launch of its official website and waitlist on February 9. The exchange, named “Open Exchange (OPNX),” promises to be the world’s first public marketplace for crypto claims trading and derivatives. The project was born from the aftermath of the collapse of the crypto market and the bankruptcy of 3AC in July. The

US Government Using Banks to Crack Down on Cryptocurrency: Nic Carter

February 10, 2023 1 min read

The U.S. government is reportedly using the banking sector to crack down on the cryptocurrency industry, according to Nic Carter, co-founder of CoinMetrics. In a guest post for PirateWires, Carter claimed that the Biden administration is executing a coordinated plan to discourage banks from dealing with crypto firms, making it increasingly difficult for them to access onshore banking systems due to unfriendly regulations. This follows recent moves by banks to

Voyager Digital Issues Subpoena to FTX, Alameda, and SBF

February 8, 2023 1 min read

Bankrupt crypto lender Voyager Digital has issued subpoenas to several executives from FTX and its sister firm, Alameda Research. The subpoenas requested copies of documents related to communications between FTX, the SEC, and the Department of Justice. Additionally, the subpoena asked for proof of former CEO John Ray’s statements that FTX-Related Entities “used software to conceal the misuse of customer funds” and “did not keep appropriate books and records.” The