Business | ForkLog

ForkLog 8 29.09.2024

Fed Rate Cut Impacts Stablecoin Issuers’ Earnings

Companies behind the five leading stablecoins by market capitalization are set to lose approximately $625 million in annual revenue due to the Federal Reserve’s September decision to cut the key rate by 50 basis points, according to calculations by CCData. /2 The top 5 centralised stablecoins hold US Treasury Bills of nearly $125bn, accounting for […]

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ForkLog 84 20.09.2024

Tether Faces Renewed Criticism Over Transparency and Business Structure

Concerns about Tether’s transparency and business structure evoke memories of the FTX collapse, according to a thread by Cyber Capital founder Justin Bons. 2/17) The potential for collapse here is greater than Terra Luna! Making it one of the biggest existential threats to crypto as a whole As we have to trust they hold $118B […]

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ForkLog 15 17.09.2024

Crypto Industry Faces Crisis, Lacks ‘Dopamine’ for Developers and Traders

The crypto industry, once a source of excitement for developers and traders, is now in crisis, unable to provide the ‘dopamine’ it once did. This is the conclusion of Ki Young Ju, CEO of CryptoQuant. Crypto Industry is in Crisis. In the past, the crypto industry itself was like a game. A game abstracts the […]

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ForkLog 11 14.09.2024

Circle to Relocate Headquarters to New York

Circle Internet Financial, the issuer of the USDC stablecoin, will relocate its global headquarters from Boston to New York. This was announced by the company’s founder and CEO, Jeremy Allaire. BREAKING NEWS: @circle has announced that we are moving our Global HQ to New York City, building out a flagship space on one of the […]

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ForkLog 28 12.09.2024

CleanSpark to Boost Hashrate by 5 EH/s with Acquisition of Seven Tennessee Sites

CleanSpark is set to take control of seven mining facilities in Knoxville, Tennessee, with an available capacity of 85 MW. The deal is valued at $27.5 million. Hopefully this news will Knox-ville your socks off. ? We’ve entered into definitive agreements to acquire 7 #Bitcoin mining facilities and certain associated land in the Knoxville, Tennessee, […]

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ForkLog 11 11.09.2024

Core Scientific Bets on AI Computing for Exponential Growth

The value of Core Scientific could grow “exponentially” over the next few years due to its potential in AI computing. This was stated by the CEO of the mining company, Adam Sullivan, in an interview with Bernstein analysts, as reported by The Block. However, the results will depend on the firm’s ability to expand beyond […]

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ForkLog 10 06.09.2024

Ethereum Foundation’s Financial Cushion Evaluated by Expert

The Ethereum Foundation (EF) possesses sufficient funds to operate for approximately 10 years, based on the current ETH exchange rate. This assessment was provided by Ethereum researcher Justin Drake. During an AMA session on Reddit, the expert revealed that the Swiss-registered non-profit organization will soon release a financial report. Source: Reddit. The EF’s main wallet […]

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ForkLog 10 06.09.2024

Bitriver Assesses Energy Consumption by Russian Miners

Electricity consumption by miners based in Russia has exceeded 2.5 GW, according to estimates by Bitriver CEO Igor Runets, reports TASS. The executive explained that this figure includes illegal grey cryptocurrency mining. “Such players connect to communal power grids at residential rates, which are not designed for the consumption profile typical of mining. Moreover, this […]

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ForkLog 32 05.09.2024

Binance Permanently Removes Changpeng Zhao from Management

The cryptocurrency exchange Binance has permanently removed former CEO Changpeng Zhao (CZ) from management. This was reported by Axios, citing the current head of the company, Richard Teng. The entrepreneur’s plea agreement with the U.S. Department of Justice mentioned a three-year term. CZ is serving a four-month prison sentence for charges related to money laundering […]

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ForkLog 31 05.09.2024

Worldcoin Aims for Global Biometric Verification Expansion

Worldcoin’s primary objective is to expand biometric verification using iris-scanning orbs globally. This was stated by Alex Blania, CEO of Tools for Humanity, the company behind the project, as reported by The Block. “Projects like PayPal or Facebook, which emerged over the past couple of decades, became useful after reaching a certain scale. All we […]

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ForkLog 11 04.09.2024

Former Mt.Gox CEO Announces Launch of New Bitcoin Exchange

Mark Karpeles, the former owner and head of the Mt.Gox exchange, has announced the launch of a cryptocurrency platform named EllipX in Poland this September, with a focus on “transparency” and user convenience. This was reported by The Block. Karpeles will serve as the CTO of EllipX. The platform’s team is concentrated on complying with […]

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ForkLog 7 29.08.2024

Brave Browser Cuts Workforce by 14%

The crypto-friendly startup Brave Software has reduced its workforce by 27 employees, approximately 14% of its staff. This marks the second round of layoffs in the past 10 months, reports TechCrunch. The company confirmed the layoffs but did not specify the reasons behind them. According to PitchBook estimates, Brave employs 190 people. The previous round […]

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