A16z-Backed Entropy Ends Operations, Refunds Investors
Tux Pacific, the CEO and founder of Entropy, claims that the initiative failed to identify a scalable business model after four years and several changes. Entropy, a cryptocurrency start-up, is shutting down and returning investors’ money because to problems with growing and finding product-market fit. Tux Pacific, the CEO and founder of Entropy, wrote to […]
GameStop’s $420M Bitcoin buy raises selling concerns
While blockchain data validates the migration to Coinbase Prime, the transfer might potentially signify internal asset management or custody. Crypto watchers are predicting that video game retailer GameStop (GME) would be the first corporation to leave its bitcoin treasury after sending all its coins to Coinbase this week. Blockchain analytics firm CryptoQuant detected on Friday […]
BitGo drops 12%, sinks below IPO price on day two
The company went public with an approximate valuation of $2 billion on Thursday. BitGo (BTGO) shares, which debuted on the New York Stock Exchange (NYSE) on Thursday, have declined by 12% by midday on Friday, significantly lagging behind other cryptocurrency firms. The stock, which reached a peak of $24 after its IPO at $18 a […]
Crypto wallet firm Ledger targets $4B valuation in U.S. IPO
Ledger, a crypto wallet firm, is working with Goldman Sachs, Jefferies, and Barclays to complete the transaction this year. The French hardware wallet maker Ledger is allegedly preparing for a US initial public offering (IPO) in partnership with several prominent Wall Street institutions. The Financial Times reported on Friday that the cryptocurrency security firm is […]
NJ man sentenced to 12 years for paying fentanyl suppliers with Bitcoin
Eight co-defendants have already entered guilty pleas in connection with the conspiracy, which marketed narcotics as fake medicinal tablets throughout New Jersey. A man from North Haledon will serve the next twelve years in prison for his role in flooding almost a metric ton of fentanyl-related drugs onto American streets, which was financed by hundreds […]