Meta Platforms to Sunset Down Novi Digital Wallet This Fall
The curtain will fall on Meta Platforms’s embattled stablecoin project after a brief run as a tool for money transfers.
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Business
In Wake of Layoffs and Pulled Job Offers, Coinbase Announces European Expansion Plan – Decrypt
Coinbase wants to expand in Europe, with CEO Brian Armstrong meeting policymakers in London and Dublin this week despite a market downturn and recent layoffs.
The biggest U.S.
FTX CEO Sets His Sights on Acquiring Distressed Mining Companies Next
FTX billionaire Sam Bankman-Fried is eyeing distressed mining companies as potential acquisitions next after extending a credit line to BlockFi.
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The CEO of the exchange wants to stem the contagion affecting lenders and borrowers during the current bear market.
KuCoin CEO Denies Withdrawal Freeze Rumors
Key Takeaways
KuCoin is rumored to be facing insolvency issues in the fallout from Three Arrows Capital’s collapse.
The firm’s CEO has denied the claims, saying that “everything on KuCoin is operating well.
North Korea’s $400M Crypto Losses Could Hurt Its Nuclear Weapons Program: Report – Decrypt
North Korea’s stores of stolen crypto have plunged in value amid the wider market crash, potentially jeopardizing funding for its weapons programs, according to a report by Reuters.
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Crypto Fund Three Arrows Capital Ordered to Liquidate: Report – Decrypt
The Singapore-based crypto fund Three Arrows Capital (3AC) has been ordered to liquidate by a court in the British Virgin Islands, according to Sky News.
Sky News reported that Teneo Restructuring will assist in the proceedings.
Decrypt has contacted Teneo for more details on the liquidation.
Compass Mining CEO and CFO Resign, Company Cites ‘Setbacks and Disappointments’ – Decrypt
Bitcoin hardware mining company Compass Mining announced today the resignation of Chief Executive Officer and co-founder Whitney “Whit” Gibbs and Chief Finance Officer Jodie Fisher.
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Roger Ver denies CoinFLEX CEO’s claims he owes firm $47M USDC
Roger Ver, an early Bitcoin investor and Bitcoin Cash proponent, has pushed against claims from crypto investment platform CoinFLEX regarding an alleged $47-million debt.
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Celsius Network hires advisers ahead of potential bankruptcy: Report
Crypto lending platform Celsius Network has reportedly onboarded advisers from a management consulting firm in advance of the company possibly facing bankruptcy.
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Solana Unveils Web3 Mobile Phone
Key Takeaways
Solana is launching a mobile phone called Saga.
Users will be able to download dApps including trading platforms and NFT marketplaces. The device will also include hardware security measures and tools for developers to publish their own products.