Business | ForkLog

ForkLog 21 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 18 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 12 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 41 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 44 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 38 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 14 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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ForkLog 24 19.08.2024

Bitwise Acquires London-Based ETC Group

Digital asset management firm Bitwise has announced the acquisition of London-based cryptocurrency exchange-traded product (ETP) issuer ETC Group. We’re excited to share that Bitwise has acquired ETC Group, the London-based digital asset manager and creator of Europe’s largest physical Bitcoin ETP (BTCE). The acquisition deepens our industry-leading suite of crypto products and brings Bitwise clients […]

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ForkLog 8 05.08.2024

Investors and Market Maker Caught Off Guard by ZKX Closure

The closure of the ZKX protocol on StarkNet left investors and a market maker criticizing the project’s management, accusing the leadership of secrecy. When ZKX shut down, as investors, we got zero heads-up. The team claimed they ran out of money, refused to provide any financial or spending details, and wouldn’t communicate with us. ZKX […]

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ForkLog 23 31.07.2024

ZKX Protocol Shuts Down 45 Days After Airdrop

The trading protocol ZKX, built on StarkNet, has announced its closure due to economic difficulties. This was revealed by the project’s founder, Eduard Jubany Tur. Important Statement 30.07.24 With much regret, we have to announce the discontinuation of the ZKX protocol. Despite our best efforts, we have been unable to find an economically viable path […]

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ForkLog 16 29.07.2024

Cantor Fitzgerald Ventures into Bitcoin-Backed Lending

Cantor Fitzgerald is set to launch a fiat lending business secured by bitcoin. This was announced by the CEO of the financial group, Howard Lutnick, as reported by The Block. The initial limit will be $2 billion, with plans to double it in the future. Clients of the company will effectively be able to leverage […]

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ForkLog 19 25.07.2024

Bitfarms Adopts New Poison Pill Defence Against Riot

Bitcoin miner Bitfarms has approved a new shareholder rights protection strategy to prevent a hostile takeover by competitor Riot Platforms. On June 24, the Ontario Capital Markets Tribunal ruled in favour of Riot, ordering Bitfarms to immediately cease its previous plan. The initiative adopted in June, known as a “poison pill“, proposed that if an […]

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