Tag: Bitcoin

As the bear market continues, crypto investment products are experiencing last week their biggest outflows in three months. A new CoinShares report suggests that investors continue to feel bearish following the FTX crash. On Nov. 28, digital asset investment firm CoinShares revealed in a new report that investors took $23 million out of the crypto…

Recently announced, Binance’s Proof-of-Reserves system met criticism from Kraken’s CEO Jesse Powell. Soon, Binance CEO responded on Twitter to Powell’s remarks. Last week, Binance published its Proof-of-Reserves (PoS) system for the company’s Bitcoin (BTC) holdings. The new system initially works with the crypto exchange’s BTC holdings but will later be expanded to include other tokens…

The Middle East, where crypto use is growing fastest, offers the starkest contrasts between cryptocurrency’s origins as anti-government money and the growing desire of governments to use the technology to modernize markets and monitor financial activity – writes Ben Schreckinger on POLITICO. At high-powered business gatherings this week, government officials and executives here highlighted their…

Core Scientific, the largest US mining company in terms of computing power, revealed its loss for the first nine months of the year reached over $1.7 billion. The firm posts a $435 million loss in Q3 amid bankruptcy looms.   The Texas-based Bitcoin mining company is one of the hardest hit miners, with low Bitcoin…

Grayscale Investments won’t show proof of reserves, citing “security concerns” after Bitcoin and Ether products fall to new all-time lows. Meanwhile, Coinbase testified to the security of Grayscale’s digital assets products held in Coinbase Custody, the WSJ reported. Crypto firms are under pressure now to share information about the health of their reserves after FTX…

Bitcoin and other crypto assets have Islamic scholars racking their brains as they attempt to discern how this new technology fits into Islamic finance, a concept that already dates back 1,400 years – studies Alex Lielacher on CryptoNews. Read on to discover the opinions of various Islamic scholars and an answer to the question: Is…