Crypto Biz: Consolidation ramps up among crypto firms

Binance is one of several large cryptocurrency firms named in a series of recent class action lawsuits. If the lawsuits go south for this global company, it could end up costing them billions of dollars.Class action is looking for new membersRoche Cyrulnik Freedman has recently brought eleven class action lawsuits against some of the biggest…

Crypto industry experts are largely unfazed by Tesla’s decision to sell 75% of its Bitcoin (BTC) holdings, saying it’s a fairly typical strategy for companies to improve cash flow during economic slowdowns. On Wednesday, the electric vehicle manufacturer revealed that it had sold 75% of its Bitcoin holdings in Q2, adding $936 million in fiat to…

Harvard lecturer Bruce Schneier said in a report that blockchain is not secure and not really decentralized. 277 Total views 3 Total shares Anti-crypto technology experts urged United States lawmakers to resist the influence of pro-crypto lobbying efforts. Bruce Schneier, a lecturer at Harvard, reportedly said that blockchain advocates's claims are "not true." He added that…

Including the millions it collected in previous rounds, the company has raised approximately $19.4M. 400 Total views 4 Total shares CoinDCX, the largest cryptocurrency exchange in India, continues to aggressively expand its business with a massive new fundraise.According to a Dec. 21 announcement, CoinDCX has raised $13.9 million from industry investors like Coinbase and Polychain in…

Bitcoin is still far from the status of macro assets, but is catching up relentlessly, says Coin Metrics’ State of the Network. 731 Total views 24 Total shares “All facets” of Bitcoin (BTC) trading volume are growing exponentially and can easily match major asset classes, says a new report.Released on June 2, Coin Metrics’ State…

The U.S.-based crypto exchange agreed to pay more than $362,000 as part of a deal “to settle its potential civil liability” related to violating sanctions against Iran. 757 Total views 4 Total shares The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, has announced a settlement with crypto exchange Kraken for “apparent…

Even a nominal investment from insurance firms and pension funds could be significant for Bitcoin. 1548 Total views 13 Total shares MassMutual’s $100 million Bitcoin (BTC) purchase shows that the demand for cryptocurrency will be growing further, according to strategists at major investment bank JPMorgan.In an investor note on Dec. 11, JPMorgan strategists including Nikolaos…

Growing confidence in new metaverse markets appears to be solidifying new investment opportunities across the industry. 464 Total views 34 Total shares Brokerage firm eToro introduced MetaverseLife, a new smart portfolio covering stocks and crypto-assets from within the growing metaverse industry, on Tuesday. The company stated that its goal is to offer a diverse range…

The decentralized GPU network puts unused capacity to work for gaming, AI, smartphones and edge computing.