The Bitcoin mining firm is looking beyond its current troubles into next year to secure the energy it needs to make up a more significant portion of the network’s hash rate.
Celsius lawyers claim users gave up legal rights to their crypto
Lawyers for the bankrupt crypto lender reaffirmed that user funds essentially belonged to the company and not the user, with potentially one major exception.
Australian central bank governor favors private sector crypto technology
Phillip Lowe believes that there are risks in dealing with cryptocurrency that can be mitigated by strong regulations, but the tech should be made by private companies.
Paraguay’s crypto framework one step away from becoming law
Paraguayan lawmakers have deliberated for a year on a comprehensive crypto regulatory framework that includes considerations for businesses and traders.
Nifty News: Old Navy’s BAYC shirts, expensive whisky NFTs, Sandbox publishing
A bottle of very expensive whisky is being auctioned off with an NFT to authenticate true ownership of it, along with artwork made special for the event.
Celsius bankruptcy filings show a company in deep trouble
The bankrupt CeFi crypto lender is about $1.2 billion in deficit, with the majority of its liabilities being customer deposits some believe they may not be required to give back.
Ankr Network’s 2.0 upgrade aims to improve Web3 decentralization
Ankr is one of the largest remote procedure call (RPC) endpoint providers in the crypto space, which are critical for Web3 dApps that connect with blockchains.
Crypto markets need to hit ‘total panic’ before revival: Kevin O’Leary
The millionaire investor thinks that the market bottom will be marked by “total panic,” at which point weak companies with “idiot managers” will be weeded out and the industry can continue to grow.
‘Hypocrisy’: Judge denies SEC motion to keep Hinman docs secret in Ripple case
The SEC has argued that the documents should be protected because Hinman wrote the speech as a “personal errand,” but the judge didn’t buy it.
Liquidators can subpoena 3AC founders despite ‘tricky issues’ with crypto assets
The counsel for liquidators said he didn’t know the current location of Zhu or Davies, alleging the duo have not provided “meaningful cooperation” with the liquidators.
Helium network team resolves consensus error after 4-hour outage
The network downtime affected token transfers and miner rewards, but not devices during the 4-hour outage caused by a failure in the Consensus Group.
Capitulation ongoing but markets not at the bottom yet: Glassnode
While many indicators suggest that the market bottom may be close, time will be the ultimate determinant, according to a new report from Glassnode.
Terra projects band together in migration to Polygon ecosystem
Projects formerly running on the fallen Terra blockchain have collaborated to help each other migrate over to the Polygon layer-two network.
CoinFLEX to begin arbitration for $84 million recovery and open limited withdrawals
CoinFLEX is moving quickly to retrieve as much liquidity as it can from a debacle that has left it $84 million short due to a delinquent account held by an unnamed whale.
What bear market? Consumer confidence higher among crypto owners than normies
The research firm said that the discrepancy is partially explained by the fact that the average crypto owner is “more likely to be wealthier, younger and male” than the average U.S. adult.
Marathon Q2 Bitcoin production down 44% as fleet remains crippled
Marathon had a particularly rough production month in June after 75% of its fleet went down. It’s still uncertain when its mining facilities will be able to come back online.
Crema hacker returns $8M, keeps $1.6M in deal with protocol
The Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty.
Korean startup Uprise lost $20M shorting LUNA
The crypto custodial service and AI trading platform managed to lose nearly all of its customers’ assets by shorting LUNA, the Terra Classic native token.
Voyager Digital files for Chapter 11 bankruptcy, proposes recovery plan
Voyager Digital has joined the growing list of CeFi firms hurting as a result of exposure to Three Arrows Capital and declining crypto asset prices.
MakerDAO voting on collaborating with a traditional bank
The Maker Protocol could extend yet another arm into the traditional finance space if a proposed integration with a Pennsylvania-based bank passes this week.