Business | ForkLog

ForkLog 9 29.05.2024

Riot Platforms Offers $950 Million Acquisition of Bitfarms

Mining firm Riot Platforms has proposed to the board of directors of rival Bitfarms an offer to purchase all publicly traded shares at a price of $2.30 each. Riot Proposes to Acquire Bitfarms for US$2.30 Per Share to Create the World’s Largest Publicly Listed Bitcoin Miner. Read the full press release here: https://t.co/SnBijrL3i7 For disclaimers, […]

AI translated

ForkLog 26 20.05.2024

Michael Sonnenshein Steps Down as CEO of Grayscale

Barry Silbert, head of Digital Currency Group (DCG), has announced a leadership change at Grayscale Investments. 2/ I want to thank @Sonnenshein— during his 10 years @Grayscale, Michael guided the firm through exponential growth & oversaw its pivotal role in bringing spot bitcoin ETFs to market, leading the way for the broader financial industry. We […]

AI translated

ForkLog 7 14.05.2024

Biden Blocks Chinese Miner from Owning Property Near Air Force Base

U.S. President Joe Biden has prohibited a mining company controlled by Chinese nationals from owning real estate near an Air Force base in Wyoming, according to a statement from the Treasury Department. The President has mandated that MineOne Partners Limited sell the property due to national security concerns. The firm, whose majority shares are held […]

AI translated

ForkLog 40 13.05.2024

Bitfarms Dismisses CEO Amidst $27 Million Lawsuit

The mining firm Bitfarms expedited the dismissal of CEO Geoffrey Morphy following his lawsuit against the company. This was announced in a press release. In March 2024, the company announced a change in CEO. At that time, it was expected that Morphy, who had held the position since December 2022, would continue his duties during […]

AI translated

ForkLog 15 08.05.2024

LocalMonero Exchange Announces Closure

The team behind the P2P exchange LocalMonero has decided to shut down the platform after nearly seven years of operation. Hey everyone, After almost 7 years of operation, we have made the difficult decision to close our platform. The winding-down process begins today, and finishes 6 months from now. Our support will be available for […]

AI translated

ForkLog 12 19.04.2024

Ethereum’s Quarterly Profit Surpasses $365 Million Amid DeFi Surge

In the first quarter, the Ethereum blockchain recorded a net profit of $365.46 million, marking an increase of nearly 200% from the previous period’s $123 million, according to a report by The DeFi Report. Data: The DeFi Report. Analyst Michael Nadeau noted that the network’s transaction fee revenue reached $1.17 billion, a 155% increase compared […]

AI translated

ForkLog 14 11.04.2024

MarginFi’s TVL Drops by $160 Million Following Founder’s Departure

Edgar Pavlovsky, the creator of the Solana-based lending platform MarginFi, has announced his departure from the project, triggering a significant outflow of funds from the protocol. I resigned from mrgn today. From working on marginfi, from the research arm, from it all. It’s a world class team — it really is — but I don’t […]

AI translated

ForkLog 9 05.04.2024

AI Anticipated to Reduce Workforce in Companies, Survey Reveals

Artificial intelligence is expected to lead to a reduction in employee hiring over the next five years, according to a report by Reuters, citing research from the staffing company Adecco Group. A survey of executives from 2000 large companies worldwide indicates that around 40% of top managers foresee a decrease in workforce due to neural […]

AI translated

ForkLog 9 15.03.2024

Binance Spins Off Venture Division into Independent Entity

In early 2024, the cryptocurrency exchange Binance discreetly spun off its venture division, which holds assets worth $10 billion, into a separate business. This was reported by Bloomberg. “We are not part of the Binance group,” confirmed Binance Labs’ Chief Investment Officer Alex Odagu. In November 2023, the exchange settled claims from U.S. authorities by […]

AI translated

ForkLog 8 28.02.2024

Tether CEO Predicts Wall Street’s Growing Investment in Bitcoin ETFs

Bitcoin is set to further integrate into TradFi as interest in Bitcoin-based ETFs grows among institutions and corporations, according to Tether CEO Paolo Ardoino, reports The Block. The executive estimates an increasing number of managers are willing to allocate up to 5% of their assets to digital gold. He predicted that following the attainment of […]

AI translated

ForkLog 15 08.02.2024

Bakkt Warns SEC of Potential Closure

Bakkt has expressed doubts about its ability to continue operations into 2025. This concern was highlighted in the risk section of the institutional crypto platform’s quarterly report to the SEC. “In our estimation, cash and cash equivalents will be insufficient to fund our operations over the next 12 months,” the document states. The organisation attributed […]

AI translated

ForkLog 31 08.02.2024

MicroStrategy Shifts Focus to Bitcoin Development

MicroStrategy is set to position itself as a “Bitcoin and Bitcoin-based product development company,” according to its founder, Michael Saylor. ₿???????: MicroStrategy announces plans to be “world’s first #bitcoin development company”. The company says it will develop #bitcoin blockchain network applications and software. Listen to the founder Michael @Saylor explain at MicroStrategy’s latest Q4 earnings […]

AI translated

#Business