Circle Internet Financial released a detailed yet unaudited breakdown of its reserve assets for the firm’s USD Coin (USDC), showing $42.1 billion in short-term US government bonds and $13.6 billion in cash. Lately, crypto firms and their finances are under increasing scrutiny in the ongoing crypto credit crisis. Published in the company’s blog post on…
Fidelity Digital, the crypto subsidiary of the global asset management giant Fidelity Investments Inc., will reportedly hire 100 more people to service the growing needs of institutional investors. As Bloomberg reported, Fidelity Digital is planning to increase its staff size by about 70% to handle the growing patronage from big-money crypto investors. Numbering at least…
The cost of mining one Bitcoin (BTC) has fallen to 10-month lows as mining hardware becomes more efficient, and difficulty has dropped 6.7% since its May peak. It could help to reverse the falling profitability trend while lowering power demands on the network. JPMorgan strategists led by Nikolaos Panigirtzoglou, in a note to clients seen…
Cryptocurrency platform OKX has received a provisional virtual-asset license from the Dubai authority. The exchange plans to set up a regional hub in the city, Bloomberg said on Thursday. Crypto exchange OKX said on July 14 that it had been given a provisional virtual assets license by the Dubai Virtual Assets Regulatory Authority (VARA), which…
Celsius Network, a crypto lending services provider, announced on July 13 that it has filed for Chapter 11 bankruptcy. The bankruptcy filing says the platform made “certain poor asset deployment decisions” when the platform grew faster than it anticipated. It also confirms its liabilities outweigh its assets by $1.2 billion. After a series of descending…
Aarma Coin, a crypto project recently launched in Dubai, has announced the launch of its own NFT marketplace, an E-commerce platform with a utility portal. In July 2022, the team plans to launch its Aarma Wallet, with an extensive roadmap ahead. Aarma Coin, a promising cryptocurrency project, was registered in Dubai, UAE, in 2022. With…
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