Stargate foundation advises DAO against risk of issuing STG tokens
Stargate Foundation has advised its decentralized autonomous organization (DAO) against reissuing Stargate’s native coin (STG). According to the liquidators, taking such action would contravene the automatic stay and might have legal ramifications. The entire STG auction was bought by Alameda Research, a defunct cryptocurrency trading company, for $25 million in March 2022. Yet that same […]
Solo Bitcoin miner gets over $150K block reward
The 780,112th block in the Bitcoin blockchain was successfully mined by a solo Bitcoin miner, who was rewarded with 6.25 Bitcoin as a result. The payoff is expected to be worth more than $150,000. While the event itself is uncommon and it can take months for a lone miner to obtain a legitimate hash, the […]
Binance to convert recovery funds from BUSD to ‘native crypto’
Binance CEO, CZ, announced that due to recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from Binance USD (BUSD) to “native cryptos” such as BTC. The bankruptcy of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, three significant crypto-backing institutions, caused the stablecoin USDC to drop from its $1 […]
HSBC acquires SVB UK arm for one pound
Global banking organization HSBC Holdings is stepping in to save the United Kingdom-based branch of the defunct Silicon Valley Bank (SVB) by acquiring it for one pound ($1.21). On March 13, HSBC formally stated that Silicon Valley Bank UK Ltd would be acquired by its subsidiary HSBC UK Bank for one British pound sterling (GBP), […]
Meta is reportedly developing text-based decentralized social network
A text-based decentralized social network application that supports ActivityPub dubbed P92, is reportedly in the works by Facebook’s parent company Meta. A second text-based content app that will support ActivityPub is purportedly being developed by Meta, the parent company of Facebook and Instagram. Mastodon and other decentralized applications that compete with Twitter are powered by […]