Cloud mining is the process of mining cryptocurrency without the direct use of mining equipment or hardware. The process allows users to mine Bitcoin or altcoins without having to manage their own resources. In traditional crypto mining, cryptocurrency is produced through a computational process. Miners need to solve complex mathematical problems using mining hardware to be … Read more
Positive price movement during bear markets are notoriously hard to come by due to the non-stop FUD of media and lackadaisical interest from crypto investors. One crypto that managed to flash green on June 12 is the Nervos Network (CKB), an open blockchain protocol designed for universally accessible decentralized applications (DApps). Data from Cointelegraph Markets Pro and TradingView shows … Read more
While some believe that Ethereum’s upcoming shift to proof-of-stake (PoS) may push the platform to eventually surpass Bitcoin (BTC), others are taking this opportunity to make snarky remarks on Twitter, triggering a rebuttal from Vitalik Buterin, a co-founder of Ethereum. In a tweet, Bitcoiner Nick Payton called out “Proof of Stakers” and argued that voting to change the properties on PoS … Read more
Celsius Network, one of the crypto lenders facing liquidity troubles in the industry’s ongoing credit crisis, appears to have yet again used a maneuver on a decentralized finance (DeFi) protocol to free up hundreds of millions of dollars of trapped collateral. Transactions on the blockchain show that a wallet linked to Celsius transferred $81.6 million in … Read more
Bitcoin (BTC) carried through threats of new local lows on July 12 as the White House warned of “highly elevated” inflation. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView White House warns ahead of “decisive day” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,500 prior to the Wall Street open, down over 4% on the day. Having … Read more
The cryptocurrency market has suffered greatly, particularly since Bitcoin had its worst quarter in 11 years. According to data releasedby Immunefi, a leading bug bounty and security services platform, the Decentralize Finance (DeFi) ecosystem lost $678 million, in the second quarter of 2022. Immunefi Says Loss Is 1.5x Of Q2 2021 DeFi, an emerging financial … Read more
As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, … Read more
Cryptocurrency exchange KuCoin pushed back against rumors of massive layoffs, saying it actually intends to hire more than 300 employees over the coming months, CEO Johnny Lyu told CoinDesk via Telegram on Monday. “KuCoin has not reduced staff and does not plan to do so,” Lyu said. “We are one of the few crypto platforms that … Read more
Netherlands-based ING Bank has spun off Pyctor, its cryptocurrency custody and post-trade infrastructure platform, which becomes a service offering within GMEX, a trading technology platform specializing in digital assets. GMEX CEO Hirander Misra was appointed chairman of Pyctor, which will continue to work with the bank and collaborate with ING’s digital assets team, according to a press … Read more
Crypto lending platform Celsius has reportedly hired lawyers from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that assisted Voyager Digital with its bankruptcy filing last week. According to a report from the Wall Street Journal on July 10, the company has hired lawyers to advise on options, including a bankruptcy … Read more