Bitcoin mining companies have been struggling under the weight of a year-long bear market, with collective debt expected to surpass $4 billion by the end of 2022, according to a report from Hashrate Index. The worst case is Core Scientific, which owes $1.3 billion to creditors and has filed for Chapter 11 bankruptcy. Marathon Digital owes about $851 million, but most of it is convertible notes, meaning its creditors can exchange them for stock in the company.

Bitcoin mining companies have been struggling under the weight of a year-long bear market, with collective debt expected to surpass $4 billion by the end of 2022, according to a report from Hashrate Index. The worst case is Core Scientific, which owes $1.3 billion to creditors and has filed for Chapter 11 bankruptcy. Marathon Digital owes about $851 million, but most of it is convertible notes, meaning its creditors can exchange them for stock in the company.

FTX executives said at a procedural hearing on Tuesday that more than $1 billion in assets had been identified. FTX identified approximately $720 million in unconsolidated cash assets at financial institutions authorized by the U.S. Department of Justice. Mary Cilia, FTX's new chief financial officer, said it is contacting the banks and changing the signatories on the accounts so they can access the accounts and transfer as much cash as possible to authorized depository institutions. Ano...

FTX executives said at a procedural hearing on Tuesday that more than $1 billion in assets had been identified. FTX identified approximately $720 million in unconsolidated cash assets at financial institutions authorized by the U.S. Department of Justice. Mary Cilia, FTX's new chief financial officer, said it is contacting the banks and changing the signatories on the accounts so they can access the accounts and transfer as much cash as possible to authorized depository institutions. Ano...

According to the official announcement of Ouyi OKX, due to the failure of the cloud service provider computer room used by Ouyi, the transaction service was interrupted for several hours from 11:00 am on December 18, 2022 to 02:50 am on December 19. . At present, the fault in the computer room of the cloud service provider has been repaired, and the transaction has resumed at 02:50 am on December 19, 2022, and the recharge and withdrawal will resume at 12:00 noon. For customers who have poten...

According to the official announcement of Ouyi OKX, due to the failure of the cloud service provider computer room used by Ouyi, the transaction service was interrupted for several hours from 11:00 am on December 18, 2022 to 02:50 am on December 19. . At present, the fault in the computer room of the cloud service provider has been repaired, and the transaction has resumed at 02:50 am on December 19, 2022, and the recharge and withdrawal will resume at 12:00 noon. For customers who have poten...

According to data from Coin Metrics, an encryption data analysis company cited by The defiant, the total transaction volume of stablecoins has reached about 7.4 trillion U.S. dollars this year, breaking last year's record of 6 trillion U.S. dollars. It is far more than the US$1 trillion in 2020. During the same period, Mastercard’s network transaction volume reached $2.2 trillion, American Express around $1 trillion, and Visa was the only major credit card provider to process more transa...

According to data from Coin Metrics, an encryption data analysis company cited by The defiant, the total transaction volume of stablecoins has reached about 7.4 trillion U.S. dollars this year, breaking last year's record of 6 trillion U.S. dollars. It is far more than the US$1 trillion in 2020. During the same period, Mastercard’s network transaction volume reached $2.2 trillion, American Express around $1 trillion, and Visa was the only major credit card provider to process more transa...

According to PR Newswire, Hidden Road, a global credit service provider, announced that its UK entity, Hidden Road Partners CIV UK Limited, has been approved by the Financial Conduct Authority (FCA) to register as a digital asset company in the UK. Hidden Road stated that it holds both the FCA investment company license and the FCA digital asset company license, which enables Hidden Road to provide spot and derivative products of foreign exchange and digital assets. Currently, 41 firms are re...

According to PR Newswire, Hidden Road, a global credit service provider, announced that its UK entity, Hidden Road Partners CIV UK Limited, has been approved by the Financial Conduct Authority (FCA) to register as a digital asset company in the UK. Hidden Road stated that it holds both the FCA investment company license and the FCA digital asset company license, which enables Hidden Road to provide spot and derivative products of foreign exchange and digital assets. Currently, 41 firms are re...

According to Trend News Agency, Binance Government Relations Director Olga Goncharova stated that Binance is ready to support the Central Bank of Azerbaijan (CBA) in establishing a regulatory framework for encrypted assets and has discussed regulatory issues in a recent meeting with CBA officials. In addition, Olga Goncharova also stated that in addition to Azerbaijan, Binance has also held meetings in other former Soviet republics, including Kazakhstan and Kyrgyzstan in Central Asia, and int...

According to Trend News Agency, Binance Government Relations Director Olga Goncharova stated that Binance is ready to support the Central Bank of Azerbaijan (CBA) in establishing a regulatory framework for encrypted assets and has discussed regulatory issues in a recent meeting with CBA officials. In addition, Olga Goncharova also stated that in addition to Azerbaijan, Binance has also held meetings in other former Soviet republics, including Kazakhstan and Kyrgyzstan in Central Asia, and int...

According to Reuters, FTX submitted an application to a Delaware federal judge on Wednesday night, asking it to approve the payment of $1,575 to $2,165 per hour to the partners and special counsel of Sullivan & Cromwell law firm. This salary level has surpassed FTX's new CEO John Ray, whose hourly salary is $1,300. Insolvency experts say the total legal bill for a complex case like FTX's could exceed $100 million. New York-based law firm Sullivan & Cromwell is representing FTX in ba...

According to Reuters, FTX submitted an application to a Delaware federal judge on Wednesday night, asking it to approve the payment of $1,575 to $2,165 per hour to the partners and special counsel of Sullivan & Cromwell law firm. This salary level has surpassed FTX's new CEO John Ray, whose hourly salary is $1,300. Insolvency experts say the total legal bill for a complex case like FTX's could exceed $100 million. New York-based law firm Sullivan & Cromwell is representing FTX in ba...

FTX Japan announced yesterday: "The plan to return assets to customers is our top priority, and the necessary development work is proceeding in an orderly manner. In the last week of December, we plan to start monitoring deposits and withdrawals in a sandbox environment." The process is tested internally." In addition, FTX Japan stated that its parent company, FTX Trading, had filed a request regarding the bidding process with the U.S. Bankruptcy Court on December 15 in order to implement an ...

FTX Japan announced yesterday: "The plan to return assets to customers is our top priority, and the necessary development work is proceeding in an orderly manner. In the last week of December, we plan to start monitoring deposits and withdrawals in a sandbox environment." The process is tested internally." In addition, FTX Japan stated that its parent company, FTX Trading, had filed a request regarding the bidding process with the U.S. Bankruptcy Court on December 15 in order to implement an ...

Mask Network announced the acquisition of Pawoo.net, the second largest instance/server of Mastodon. The new team will take over the operation and maintenance of Pawoo.net from December 21, 2022, with no impact on existing users. According to officials, this acquisition marks another milestone for the Mask team in building a decentralized social network and a free and open Internet. It is reported that Mastodon is an open source decentralized distributed microblogging social network that allo...

Mask Network announced the acquisition of Pawoo.net, the second largest instance/server of Mastodon. The new team will take over the operation and maintenance of Pawoo.net from December 21, 2022, with no impact on existing users. According to officials, this acquisition marks another milestone for the Mask team in building a decentralized social network and a free and open Internet. It is reported that Mastodon is an open source decentralized distributed microblogging social network that allo...

Layer 2 Labs, a Bitcoin sidechain solutions development company, has closed a $3 million seed round funded by angel investors that will fund the company’s implementation of innovative sidechain solutions on the Bitcoin network. The company’s CEO and founder Paul Sztorc is a well-known Bitcoin researcher and developer. In addition to Sztorc, the founding team of Layer 2 Labs also includes Bitcoin core contributor CryptAxe and 8-year Kraken veteran Austin Alexander.

Layer 2 Labs, a Bitcoin sidechain solutions development company, has closed a $3 million seed round funded by angel investors that will fund the company’s implementation of innovative sidechain solutions on the Bitcoin network. The company’s CEO and founder Paul Sztorc is a well-known Bitcoin researcher and developer. In addition to Sztorc, the founding team of Layer 2 Labs also includes Bitcoin core contributor CryptAxe and 8-year Kraken veteran Austin Alexander.

Twitter CEO Elon Musk launched a Twitter vote on "whether he should resign as the head of Twitter" and said he would abide by the results of the vote. As of 7:20 tonight, the voting has officially ended, with a total of over 17.5 million votes. The support rate for Musk's resignation as the head of Twitter was 57.5%.

Twitter CEO Elon Musk launched a Twitter vote on "whether he should resign as the head of Twitter" and said he would abide by the results of the vote. As of 7:20 tonight, the voting has officially ended, with a total of over 17.5 million votes. The support rate for Musk's resignation as the head of Twitter was 57.5%.

Accounting firm BDO plans to suspend or limit services to cryptocurrency clients. The Wall Street Journal reported that a BDO representative revealed that, like several other audit firms that have recently suspended cryptocurrency services, BDO is currently evaluating methods for conducting audit work for crypto clients. So far, BDO has not made it clear that it will abandon relevant customers, but hints that there is such a possibility.

Accounting firm BDO plans to suspend or limit services to cryptocurrency clients. The Wall Street Journal reported that a BDO representative revealed that, like several other audit firms that have recently suspended cryptocurrency services, BDO is currently evaluating methods for conducting audit work for crypto clients. So far, BDO has not made it clear that it will abandon relevant customers, but hints that there is such a possibility.