Core Scientific Records $862m Loss in Q2, follows by 10 % Workforce Laid off

Core Scientific, a large publicly traded cryptocurrency mining company in North America, announced its second quarter 2022 update and said it was laying off 10% of its workforce as it reported an $862 million quarterly loss due to impairments such as goodwill and digital assets. The loss was primarily attributed to an $840 million impairment … Read more

MakerDAO Intends to Depeg DAI from USDC

Announcing through Discord, MakerDAO’s founder Rune Christensen revealed that the DeFi protocol might consider depegging its native token DAI from stablecoin USD Coin (USDC). Christensen pointed out: “Will be discussing it at tonight’s call but I think we should seriously consider preparing to depeg from USD … it is almost inevitable that it will … Read more

Bullish Sentiment Restores in Crypto Derivatives Markets, Surged to $3.12 Trillion in July

Investors in the cryptocurrency ecosystem have increased their exposure to derivatives markets, with trading volume on central exchanges rising to $3.12 trillion in July, up 13% from the previous month, according to researcher CryptoCompare.   Derivatives trading volume on major exchanges hit the $245 billion mark on July 29, up 9.7% from its daily high … Read more

Maven 11 Launches $30m Loan Pool on Defi Lending Protocol Maple Finance

Defi lending protocol Maple Finance has launched a $30 million liquidity pool backed by Netherlands-based crypto-native investment firm Maven 11. Maven 11 announced that the launch of the loan pool is designed to help institutional businesses seek income opportunities. A $30 million pool of funds funded by institutional lenders will provide liquidity to borrowers used … Read more

Coinbase Is Under SEC Scrutiny for Staking Programs

Cryptocurrency exchange Coinbase released its second-quarter earnings Tuesday and published its letter to shareholders. In its quarterly form 10-Q filing, US-based Coinbase disclosed that it is under the U.S. Securities and Exchange Commission’s (SEC) scrutiny over its staking programs that allow customers to earn rewards for holding cryptocurrencies. According to the filing, Coinbase “has received investigative subpoenas and … Read more

Ansible Labs Completes $7M Seed Funding Led by Archetype

Blockchain payments platform Ansible Labs on Wednesday announced the completion of a $7 million seed round of funding led by crypto venture capital firm Archetype. According to Ansible Labs, other participants in the financing round include Castle Island Ventures, A* Partners, Arca, Soma Capital, Plural VC and Eniac Ventures. This round of financing will be used for recruitment, liquidity … Read more

US CFTC Approves Clear Markets For Operating Crypto Derivatives

The U.S. Commodity and Futures Trading Commission (CFTC) confirmed it has approved the U.S. subsidiary of electronic trading platform developer Clear Markets to offer physically settled crypto derivatives, according to the firm’s shareholder SBI Holdings. SBI Holdings acquired a 12% stake in Clear Markets in August 2018 and plans to increase its stake in the … Read more

The Sandbox Expands Footprints in Hong Kong for Alpha Season 3

Decentralized virtual gaming developer The Sandbox, a subsidiary of Animoca Brands, announced Thursday to roll out the first-ever pop-up atelier in Hong Kong for the upcoming seasonal events. To facilitate the experience in the Metaverse, the leading virtual real estate developer is actively establishing a virtual platform for global users. By offering a virtual land … Read more

Crypto Broker Genesis Says Lending Business Declined in Q2

Genesis, a global institutional digital asset trading, lending, derivatives, custody and prime brokerage services company, on Wednesday, published its Q2 earning report with some interesting insight into crypto markets. The report shows that crypto lending output at the company declined while OTC trading rocketed higher. Genesis said it issued new loans worth $40 billion in … Read more