Shiba Inu coin burn and gaming deals can’t stop its price slide
$30 million worth of SHIB stolen in BitMart hack sparks hunt for the dognapper, as ecosystem developments fail to return Shiba Inu coin to its former glory.
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Bitcoin hashrate recovers six months after China’s crypto ban
Bitcoin’s hashrate has almost fully recovered just six months after China’s crypto ban sent miners fleeing to more hospitable shores. Fast facts Despite the recent price crash, the total Bitcoin hashrate stood at 180.5 million terahashes per second, almost approaching its all-time high of 180.67 million TH/s back in May, according to data from Blockchain.com. The hashrate took…
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Polygon goes deeper into ZK tech by acquiring Mir for $400M
India-based Layer 2 Ethereum scaling platform Polygon has acquired zero-knowledge technology developer Mir for US$400 million as part of Polygon’s continued focus on ZK tech. Fast facts Mir will help Polygon build its new project — Polygon Zero, a highly scalable, Ethereum compatible ZK rollup. A zero knowledge protocol is a cryptographic algorithm that allows…
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India’s crypto bill to impose jail and US$2.65M fines for violations
India’s proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?
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Here comes the crypto derivatives boom
Investment banks’ hunger for a new revenue stream is likely to drive up the popularity and registration of crypto derivatives products.
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Shinhan, Standard banks demo cross-border stablecoin remittance
The transaction, using the Hedera Consensus Service network, bypasses intermediaries, lowering fees.
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Bitcoin price tumbles below $50K as Evergrande defaults
Chinese property giant Evergrande has defaulted on its debt to global investors, credit rating firm Fitch Ratings reported today. Fast facts Fitch has downgraded Evergrande to “Restricted Default” after its deadline to pay interest due on two dollar-denominated bonds passed on Monday. The actual payments were due a month ago and the grace period expired…
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Hong Kong VC firm Chiron Partners raises $50M to back Terra
Hong Kong-based venture capital (VC) firm Chiron Partners announced Wednesday the launch of a US$50 million fund to support the Terra blockchain ecosystem. Fast facts Chiron Partners will use the fund, namely the Chiron Terra Fund I (CTI), to invest in innovative projects built on the Terra ecosystem, such as decentralized finance (DeFi) applications and…