MicroStrategy, the software firm better known in recent years for its bet on bitcoin, reported a net loss of $249.7 million for the fourth quarter of 2022 compared to a loss of $90 million in the same...
Tag: The Block
‘Crypto Voldemort’ Charlie Munger calls for U.S. ban, again
Charlie Munger, vice chairman of Berkshire Hathaway and longtime crypto critic, used an op-ed in the Wall Street Journal published late Tuesday to call for a ban on cryptocurrencies in the U.S. Munger...
Judge approves Core Scientific’s $70 million loan from B. Riley
Bankrupt bitcoin miner Core Scientific got the green light from a bankruptcy judge to move forward with a $70 million debtor-in-possession (DIP) loan from B. Riley. Representatives of the compan...
Uniswap temperature check spurs feverish backroom maneuvering among crypto VC heavyweights
A community “temperature check” vote to see which cross-chain bridge would be utilized for decentralized exchange Uniswap’s third iteration swung decidedly in favor of Wormhole. But ...
Highlights from the court report detailing Celsius’ Ponzi-like downfall
Celsius Networks used to promise customers ”financial freedom” with a ”community first” company that sold products safer than a bank. ”We are Celsius. We dream big,”...
MicroStrategy expected to report profit despite down quarter for crypto: Preview
MicroStrategy reports fourth quarter results Thursday with the company expected to turn a profit after several down quarters even as revenue comes in slightly lower than a year earlier. The sof...
Coinbase loses Bison Trail co-founders: Sources
The co-founders of Bison Trails left Coinbase today, according to three people familiar with the situation. Joe Lallouz and Aaron Henshaw created Bison Trails to run infrastructure on multiple b...
FTX-linked Alameda Research sues Voyager Digital for over $445M
Troubled crypto trading firm Alameda Research is suing failed crypto lender Voyager Digital for more than $445 million, seeking to recover loan repayments that it made after Voyager filed for bankrupt...
Secret Labs and Secret Foundation battle it out openly
Guy Zyskind, founder and CEO of Secret Labs, raised a number of questions around the past operations of the Secret Foundation and its founder Tor Bair. Both entities support the Secret Network, a priv...
What the FTX creditor matrix does — and doesn’t — tell us about the exchange’s bankruptcy
FTX filed a massive creditor matrix in bankruptcy court this week, naming law firms, luxury restaurants, media outlets and state government agencies as creditors that may be owed money by the troubled...
BH Digital didn’t just get Dragonfly’s head of liquid strategies, it got the whole team
Brevan Howard Digital didn’t just hire Dragonfly’s head of liquid strategies — it scooped up the whole team. The firm said on Thursday that Dragonfly’s Kevin Hu, a former general partner...
Bitcoin miner Gryphon going public via deal to buy cannabis software company Akerna
Gryphon Digital Mining is going public in a deal to buy Akerna Corp. in an all-stock transaction. Privately-held Gryphon, which claims to be a carbon neutral bitcoin miner, will buy the publicly...
FTX debtors, Bahamian liquidators object to U.S. Trustee’s examiner request
Allowing an examiner to investigate the FTX bankruptcy would “come at an enormous cost” and “provide no benefit” to creditors, lawyers for the troubled crypto exchange said in a court filing. T...
Digital Currency Group’s Luno cuts 35% of staff
Luno, the crypto exchange owned by Digital Currency Group, reduced its workforce by 35%. The London-based firm told employees about the layoffs earlier today. Luno had a total headcount of 960, ...
More turbulent times ahead for bitcoin miners, Galaxy Digital says
Fixed-rate contracts from hosting providers could be a thing of the past as the bitcoin mining hosting landscape transforms in 2023, Galaxy Digital said in a recent report. Hosting providers pro...
Celsius lawyer says Earn account customers entitled to a ‘significant return’
Celsius Earn account customers will be “entitled to a significant return,” a representative for crypto lending firm Celsius told a bankruptcy court on Tuesday. “The Earn customers we think are...
Wilshire to partner with FalconX as preferred digital asset index provider
Wilshire, the financial services firm, announced a partnership with crypto prime broker FalconX to provide institutional investors with access to the OTC crypto derivatives market. The firm, whi...
Blockchain.com’s Chief Compliance Officer joins crypto exchange Kraken
Crypto exchange giant Kraken has hired C.J. Rinaldi as its chief compliance officer. Rinaldi joins Kraken after working at the crypto services firm Blockchain.com as its chief compliance office...
Silvergate shoots up 11%, Coinbase dips and MicroStrategy trades flat
Silvergate shares soared after the open, and Coinbase traded down as the Nasdaq 100 was higher. Shares in the crypto-friendly bank were up 11% to $15.25 by 11:30 a.m. EST, according to Nasdaq d...
Bitcoin resistance at $25,000 will be key gauge of rally’s momentum, B2C2 says
Bitcoin was little changed Monday after reaching its highest point above $23,000 since August over the weekend. While the recent rally has outpaced traditional equities, some are wondering how long th...
bitcoin climbs, Coinbase stock shrugs off Moody’s downgrade
The past week has seen crypto prices continue their upward trajectory, with bitcoin rising 16.8% and jumping over the $23,000 mark going into the weekend. Bitcoin was trading at $23,262 as of 2 ...
SEC charges Avraham Eisenberg for $116 million Mango Markets exploit
The U.S. Securities and Exchange Commission charged Avraham Eisenberg, who is known as Mango Avi, with orchestrating an attack on Mango Markets and draining $116 million from the crypto trading platfo...
CleanSpark moves ahead with 50-megawatt expansion at recently acquired site
Bitcoin miner CleanSpark is moving forward with the expansion of its recently acquired site in Georgia, charging ahead even as the mining industry reels from months of tough economic conditions. ...
‘Wtf is Bitzlato?’ Crypto Twitter rolls eyes at DOJ’s big arrest
The U.S. Department of Justice got schooled in how not to manage expectations on Crypto Twitter Wednesday morning after it teased the announcement of an “international crypto enforcement action&...
American CryptoFed argues it was shut out from dialogue with the SEC
A decentralized autonomous organization that the Securities and Exchange Commission is attempting to stop from registering and selling tokens argued at a hearing that the regulator isn’t making offici...
Genesis creditors negotiating prepackaged bankruptcy: Sources
Genesis Global Capital creditors are negotiating a prepackaged bankruptcy plan with the firm, two sources familiar with the talks told The Block. Creditors like the Winklevoss twins’ Gemi...