Business | ForkLog

ForkLog 13 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 […]

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ForkLog 18 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 […]

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ForkLog 11 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 […]

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ForkLog 14 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 […]

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ForkLog 12 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 […]

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ForkLog 24 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 […]

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ForkLog 42 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 […]

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ForkLog 21 02.02.2024

OPNX Exchange Founded by 3AC Creators Announces Closure

The OPNX exchange, established by the founders of the bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC), has announced its closure. OPNX shutting down pic.twitter.com/BIRBX3uiBV — Cole (@cole0x) February 1, 2024 The platform has requested users to close all positions by February 7 and withdraw funds within two weeks. “We are deeply grateful to every […]

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ForkLog 16 01.02.2024

Celsius Network to Distribute $3 Billion in Restructuring Plan

The bankrupt lending platform Celsius will distribute $3 billion to creditors under an approved restructuring plan. This decision was supported by 98% of account holders and confirmed by the Southern District of New York court. Recipients can expect assets in cryptocurrencies, fiat, and common stock of the new Bitcoin mining company Ionic Digital. The latter […]

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ForkLog 30 17.01.2024

Bankruptcy Court Approves Core Scientific’s Reorganization Plan

The bankruptcy court has approved the reorganization plan of the mining company Core Scientific, with a relisting of shares on the Nasdaq by the end of January. In December, the firm indicated mid-to-late January 2024 as the timeline for implementing the initiative. As a result, the company’s shareholders will receive approximately 60% of the new […]

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ForkLog 21 11.01.2024

NEAR Foundation to Reduce Workforce by 40%

The non-profit NEAR Foundation, responsible for the development of the eponymous ecosystem, will lay off approximately 40% of its staff as part of a reorganization. “Together with the NEAR Foundation board, we conducted a thorough analysis of our activities. During this process, we received feedback that the foundation was not always as effective as it […]

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ForkLog 13 29.12.2023

BIT Mining Finds Buyer for BTC.com Mining Pool for $5 Million

BIT Mining Limited, listed on the New York Stock Exchange, announced the sale of the BTC.com mining pool.

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