Tag: Blockchain

Former Binance CEO Changpeng Zhao Awaits Sentencing In Seattle

In a recent development, Changpeng “CZ” Zhao, ex-CEO of the crypto exchange Binance, is currently marooned in the United States. He awaits sentencing in Seattle, facing charges related to violations of US anti-money laundering laws and sanctions, following his resignation amidst these legal issues. Zhao is now prohibited from leaving the US. However, the silver […]

Bitcoin In Exchange Wallets Skyrockets By $1.16B Monthly, Signalling Potential Market Pause

Centralized cryptocurrency exchanges are witnessing a surge in Bitcoin (BTC) deposits, with the pace accelerating to $1.16 billion monthly, the fastest since May. As reported by CoinDesk on Sunday, blockchain analytics firm Glassnode discovered that the balance of Bitcoin held in exchange wallets has risen to 31,382.43 BTC ($1.16 billion), taking the total exchange wallet […]

How the Ordinals-inspired POLS token triggered a 1000% surge in Polygon’s gas fees

The Polygon network gas fees have surged by 1000%, peaking at $0.10, during a rush to mint a new Ordinals-inspired token named POLS. The Ethereum layer-2 Polygon (MATIC) network experienced a sudden surge in user activity due to the minting of POLS tokens, causing gas fees to spike dramatically. On Wednesday, Polygon founder Sandeep Nailwal […]

Binance and Gulf Energy join forces to penetrate Thai crypto market

Leading cryptocurrency exchange, Binance, is gearing up to launch its operations in Thailand through a partnership with Gulf Energy. The joint venture, named Gulf Binance, has received approval from Thailand’s Securities and Exchange Commission (SEC) to commence operations. This follows a translated filing to the Stock Exchange of Thailand by Gulf Energy Development. Gulf Binance […]

Ava Labs trims workforce by 12% to bolster expansion efforts

Ava Labs, the organization behind the Avalanche Blockchain, has announced a 12% reduction in its workforce in a bid to reallocate resources for expansion. This move has impacted around 40 employees, with many from the marketing team. The company’s founder and CEO, Emin Gün Sirer, confirmed the layoffs on November 7. The decision was made […]

“On-Chain Is The New Online” says Coinbase CEO as company smashes revenue expectations

Coinbase’s Q3 earnings have beaten expectations, with CEO Brian Armstrong drawing parallels between the evolution of blockchain technology and the internet’s transformative impact. Armstrong believes crypto companies can become the tech giants of tomorrow, as on-chain technology becomes as significant as the internet. In the earnings call, Armstrong said that just as the internet transformed […]

Coinbase beats Wall Street predictions despite posting $2.2 Million Q3 loss

Cryptocurrency exchange, Coinbase, reported a Q3 loss of $2.2 million, surpassing Wall Street predictions for the third time this year. The firm’s shares fell during after-hours trading on Thursday despite better-than-expected financial results. On a per-share basis, Coinbase reported a loss of $0.01 on $674 million in revenue, whereas analysts had predicted a loss of […]

Blockchain explorer SnowTrace to shut down amid Etherscan fee controversy

The popular blockchain explorer tool for Avalanche, SnowTrace, is set to shut down its website, stirring up controversy over Etherscan’s annual subscription fees. SnowTrace, powered by Etherscan’s Explorer-as-a-Service (EaaS) toolkit, will cease operations on November 30. The SnowTrace team has urged users to save backup information such as private name tags and contact verification details […]

Neon Machine bags $20M to boost development of blockchain-based ‘Shrapnel’

Web3 gaming developer, Neon Machine, has successfully raised $20 million in a Series A funding round to expedite the development of its upcoming game, ‘Shrapnel’. This funding round follows a seed round of $10.5 million completed in June 2021. The Series A round was led by Polychain Capital and included contributions from Griffin Gaming Partners, […]