Business | ForkLog

ForkLog 17 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 […]

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ForkLog 59 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 […]

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ForkLog 30 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 […]

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ForkLog 14 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 16 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 18 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 25 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 43 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 20 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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