Binance cited allegations of the mishandling of consumer funds and an investigation from regulators as reasons for exiting the agreement. On Nov. 9, less than 48 hours after Changpeng “CZ” Zhao, CEO of cryptocurrency exchange Binance, announced his intentions to bail out troubled competitor FTX, the firm stated that it would not be pursuing the…
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The call for a more detailed disclosure of liquidity through the use of “Proof-of-Reserves” has been backed by many high-profile industry figures. Following the liquidity crisis and acquisition of cryptocurrency exchange FTX, Binance CEO Changpeng “CZ” Zhao said his exchange will soon start a Proof-of-Reserves audit system to allow verification of its digital asset holdings.…
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After all the speculation surrounding the crypto exchanges Binance and FTX, Binance CEO Changpeng Zhao (CZ) revealed that his company is set to acquire FTX. CZ detailed that FTX asked for help and noted there is a “significant liquidity crunch.” FTX CEO Sam Bankman-Fried has confirmed the acquisition will take place. Binance Set to Acquire…
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After Elon Musk signaled his intention to continue the deal to buy the social media platform earlier in October, reports are emerging that the acquisition is almost over. Crypto-friendly billionaire Elon Musk is set to finalize the acquisition of social media platform Twitter by Friday, Oct. 28 which brings to a close the protracted Musk-Twitter…
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On October 11, the publicly-listed bitcoin miner Cleanspark announced that it has completed the acquisition of Mawson Infrastructure Group’s Georgia-based bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hashrate of over 4.7 exahash per second (EH/s). Cleanspark Hashrate Moves Closer to 5 Exahash, Firm…
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According to reports, Tesla’s Elon Musk now plans to purchase Twitter Inc. for the original asking price of $54.20 a share. Twitter’s shares surged following the news and climbed nearly 20% higher and trading was halted twice so far. Report Claims Tesla’s Elon Musk Will Purchase Twitter at the Original Asking Price It seems Elon…
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California-based online payments company Bolt is pulling out of an agreement to buy crypto provider Wyre. The news of the scrapped deal, which was agreed to earlier this year, comes amid plunging valuations in the crypto and fintech sectors. Bolt Gives Up Plan for $1.5 Billion Wyre Acquisition Bolt Financial, a U.S. technology company headquartered…
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Singapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months. The decision comes as the troubled crypto lending platform seeks acquisition by rival Nexo. Vauld to Have 3 Months for Restructuring, Due Diligence by Nexo The Singapore High Court has granted the…
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The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading. SCB Postpones Acquisition of Thai Crypto Exchange Bitkub The parent company of Siam Commercial Bank, SCB X,…
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It’s unclear whether the potential lawsuit will eventually see Musk purchasing the platform at the previously agreed price, at a new price, or not at all. Social media platform Twitter is reportedly looking to file a lawsuit as early as this week against Telsa CEO Elon Musk after he announced his intention to pull out…
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