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Bitcoin miner Argo Blockchain announced on Wednesday that it reached a deal with Galaxy Digital in an effort to avoid the threat of bankruptcy . Upon the agreement, Galaxy Digital will acquire Argo’s top mining facility Helios in a $65 million deal. Argo also gets a $35 million loan from Galaxy Digital to cut off its debts. Argo Blockchain CEO Peter Wall noted in the official announcement that in face of the ongoing bear market, Argo’s urgent attempt is to keep the business afloat. Galaxy to the Rescue! Galaxy Digital’s bailout helps Argo pay the debts and continue operating. The rescue package will be used to “pay off the debt that we owed to NYDIG and a tiny bit to another secured lender,” according to Wall. Launched in May 2022 in Dickens County, Texas, Helios is Argo’s bitcoin mining facility capable of 200 megawatts (MW) of power. Compared to Baie Comeau and Mirabel, it is Argo’s largest operation in terms of electricity support. The CEO added that Argo Blockchain and Galax...

New data from crypto analytics platform Glassnode highlights that the total number of Bitcoin accumulation addresses is on track to establish a new high of 800,000. In particular, the number of BTC accumulation addresses surged to 793,591 on Christmas day. In August, Glassnode reported that Bitcoin reached an all-time high of 700,000 accumulation addresses and it appears that the world’s largest cryptocurrency will break its own record. Furthermore, on-chain data also indicates a significant increase in the total BTC balance of those addresses. Increasing Accumulation Addresses An accumulation address is, “addresses that have at least 2 incoming non-dust transfers and have never spent funds,” according to Glassnode’s definition. The possibility of the metric reaching a new all-time high suggests that investors are accumulating more Bitcoin and holding a strong belief in the rally future However, it is worth noting that the total number does not include exchange wallets, miners’...

There exist thousands of crypto exchanges in the crypto industry which marks the unique feature of both blockchain technology and the vast crypto space. Crypto exchanges flourish day by day as the number of cryptocurrencies increases abundantly. These exchanges facilitate traders to enlist and trade their coins. Sometimes the traders are gifted rewards. An example of such an exchange is FixedFloat , the exchange that provides the community with fast and safe services with a variety of virtual currencies. FixedFloat: A Lightning Crypto Exchange   FixedFloat, the fully automatic crypto exchange with Lightening Network, was launched in 2018 by a group of blockchain enthusiasts having business, finance, and network technology backgrounds. The exchange possesses fully automated technologies and provides instant features for digital assets. The FixedFloat website’s browsing is incredibly simple and user-friendly, securing new customers with an ideal network. It is a great advantage...

Land sales in Singapore-based Affyn’s Debut NEXUS World Metaverse City sold out rapidly. After a little over two hours, there was no land left! Crypto markets are lagging, but as Affyn’s recent land sale shows, there is an unbelievable amount of interest in Web3 tech and the Metaverse. This should come as no surprise, as the Web3 development space is healthy, and there is building interest in new platforms that deliver real value. Affyn’s Founder & CEO Lucaz Lee commented, “Once again, our valued community is displaying extraordinary interest in our NEXUS World initiative. Starting with the Singapore metaverse city, we look forward to seeing how the metaverse economy can function and drive added value for users. With more cities in the pipeline, we are excited about the ecosystem’s prospects, namely to see how Landowners opt to develop their plots to co-create the economy of NEXUS World.” The 2,000 NFTs that sold out so quickly line-up with actual locations in Singapore, a...

SpiritSwap will be using Orbs’ dTWAP Module for advanced order functionality, and giving traders more ways to make good trades. The dTWAP (Decentralized Time Weighted Average Price) protocol is an advanced way to make orders on a decentralized exchange. It is being integrated into the SpiritSwap decentralized finance (DeFi) platform , and traders have every reason to look forward to the new functionality it provides. Here is the thing, as far as decentralization has come, trading on a decentralized exchange is still pretty limited. Most exchanges only offer swap and limit orders. Now, with the new dTWAP order, traders can move larger amounts through a decentralized exchange without worrying about making prices move in a big way, or having their orders go unfilled. Orbs’ dTWAP is Here to Make Trading Better! Once the integration is complete, SpiritSwap will take the position as first decentralized exchange (DEX) and automated market maker (AMM) to feature a dTWAP order for its tra...

Generate stickers from your own NFT, buy StickerNFT, paste them, change the background, and put it in the metaverse, and even other than pylon objects… Here’s a project that offers a whole new experience! As a result of the current explosive expansion, the Metaverse and the sectors dependent on it are now beginning to realize their full potential. While they are in their infancy, many large corporations invest vast amounts of money in them. Humans’ relationships with technology and each other, as well as with the natural world, stand to be profoundly transformed by the advent of the Metaverse. More than 400 million people access the Metaverse each month. NFTs are an integral aspect of metaverses in the same way that in-game assets are to games. Because of this, NFTs will likely become more common in the Metaverse. After all, NFTs are used for things like real estate, wardrobes, and even the avatars themselves in the Metaverse. The Metaverse, along with NFTs, is often seen as the ...

Sam Bankman-Fried, FTX’s founder, is set to be extradited from the Bahamas to the United States. The news surfaced following a reversal in the decision of Bankman-Fried after four days in Bahamian prison. A source familiar with the case told CNBC that FTX’s former CEO surrendered the extradition request despite his initial objection. Rumor has it that Sam Bankman-Fried struggled to live in the local prison. He’s currently in the Fox Hill prison which is well-known for its harsh conditions. From Beach to Busted On Dec. 12, the Bahamas’ police, upon the request of the US authorities, arrested Sam Bankman-Fried. The US sought to bring him to justice in an extradition agreement with the Bahamas. Bankman-Fried applied for bail before the Bahamas Supreme Court after the arrest, saying he had no intention to flee the Bahamas. But the request was rejected by Chief Justice JoyAnn Ferguson-Pratt. The bail refusal sent him back to prison. It is unclear what prompted the former cryptocurre...

Logan Paul, brother of Jake Paul and a popular influencer, has been criticized for launching Cryptozoo, an NFT project that ended up being a big money loser for many that invested in the game. The community behind the game became indignant over Paul’s avoidance following significant losses of money, and more attention is being paid to this issue. What Happened To Cryptozoo? Cryptozoo was initially introduced in 2020 during an Impaulsive episode, a comedy podcast hosted by Logan Paul and other Internet personalities. The new NFT game was said to allow players to participate in a fun game world and earn passive income. Logan Paul, the promoter of the game, told the public that the team had spent 6 months making handmade NFTs, which also made the project’s unique selling point. Paul said at least a million dollars had been poured into building the game and making unique NFTs. Bad Eggs… To acquire the NFT eggs, people needed to buy the in-game tokens called $ZOO. According to the p...

The ongoing ban started without public notification, as reported by The Register. According to Microsoft’s new update on the product terms, cryptocurrency mining is prohibited on Microsoft’s online services without prior permission. Miners are required to get written approval from the company to use Azure software for mining cryptocurrency. “Updated Acceptable Use Policy to clarify that cryptocurrency mining is prohibited without Microsoft’s prior consent. Neither Customer nor those that access an Online Service through Customer, may use an Online Service … to mine cryptocurrency without Microsoft’s prior written approval,” as written in the policy update. The Game is Rough The update, which is valid from Dec. 1, targets to protect customers from cybersecurity risks that illicitly disrupt and steal customers’ properties. Microsoft Online Services is a cloud-hosted service provider that plays a key role in Microsoft’s suite. Microsoft Azure is a cloud computing platform well-kn...

Sumotex debuted in 2021 to revamp the real estate economy via tokenization and fractionalization. The real estate and traditional financial systems faced the problem of liquidity. Hence, the development of Sumotex’s AssetFi protocol to fractionalize illiquid assets off-chain and move them on-chain would provide liquidity. The Problem Of Traditional Finance Traditional finance dates back to the barter system era of 6000 BC. From the Mesopotamian period till date, it has evolved to become the foundation for economic development. Annually, it records a 9 percent growth rate, with the global finance market amounting to $22.5 trillion, also 25% of the world’s economy. Finance is an intrinsic aspect of human life. Without it, people cannot engage in transactional activities. Finance involves people purchasing commodities, securing loans, and delving into investments and product consumption. It is equally a day-to-day life for organizations. Nowadays, firms take loans for business expan...

Unbanked , a blockchain-powered tech firm, is spreading its influence across Europe by inking new partnerships and launching its cryptocurrency card program. Unbanked focuses on providing its clients with crypto-friendly banking experiences by combining elements of traditional finance with decentralization. To fulfill its mission of making cryptocurrencies accessible to the general public, Unbanked has secured several key partnerships in the finance and crypto space and is closely working with banks and card finance networks. It has partnered with VISA as an Enablement partner and program manager and Mastercard as a program manager. Unbanked has also launched AMEX’s first NFT card and partnered with several banks worldwide for international launches. Unbanked newest initiative, the cryptocurrency card program launched, also benefitted from another partnership established with Moorwand, a payment solution provider which provides card services for Unbanked Inc. This program seeks to s...

MetaMask and PayPal are working together in order to empower the Ethereum ecosystem. The two transactional giants have found their way to collaborate in favor of crypto adoption . By the end of 2020, PayPal introduced a new functionality that allows users to make cryptocurrency transactions with Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. However, transferring tokens from PayPal to MetaMask, Coinbase, or hard wallets was unavailable at that time. Now things have changed. PayPal and Metamask Together at Last Web3 wallet MetaMask announced on Dec. 15 its strategic partnership with the U.S. payment giant to launch a new feature that enables Ethereum purchase and transfer across the two wallets. ConsenSys, the team behind MetaMask, said that a browser integration is set to come in 2023. In the coming weeks, the feature rollout is initially available in the U.S., according to ConsenSys’ statement. Customers can directly transfer ETH from PayPal to MetaMask wallet or buy ETH using ...

PEGA Pool is a Bitcoin mining pool where clients who own ASIC miners connect to its network in order to mine Bitcoin together. Bitcoin mining is a fiercely competitive industry, but it’s also hard to maintain profitability. It cannot deny that factors such as geography, weather, energy cost, or political jurisdiction can all harm or benefit Bitcoin miners. As Bitcoin’s Proof-of-Work mechanism is based on the SHA-256 hash function and is random, miners can mine for long periods with no guarantee that they will find a block, which makes them rewarded. Therefore, this makes it impossible for individual miners to predict when they’ll find a new block and produce revenue. What Is PEGA Pool All About? Large mining companies can be over by the size of their operation, thanks to their reserved capital that can compensate for unexpected drops in revenue. However, it may be extremely difficult for small, independent Bitcoin miners to maintain their operation with zero revenue for months...

Over $8 billion has been withdrawn from Binance recently, according to data from CryptoQuant. The massive outflow was triggered at the start of the week with Coinsdesk reporting a $902 million outflow within 24 hours. The amount lately came very close to the level of liquidity crisis that FTX experienced in November. In the face of scrutiny from mainstream media, CZ expressed no concerns, reassuring the exchange just keeps building. Brutal Stress Test Amid the intense situation, on-chain data indicated that Binance’s stablecoin BUSD depegged to $0.9 at some points during the day as users swapped BUSD for other stablecoins. Panic swept through the crowd after Binance temporarily suspended the USDC withdrawal. But before speculation got worse, Binance CEO Changpeng Zhao (CZ) wrote in a public statement to explain what had happened. CZ said that “the channel to swap from PAX/BUSD to USDC requires going through a bank in NY in USD,” the withdrawals couldn’t be processed as the ban...

The global monetary system has rapidly evolved upon the impact of digitalization and the industrial revolution. A UK CBDC is likely coming soon. Governments worldwide, despite initial struggles, started getting more serious about developing central bank digital currency (CBDC). The UK CBDC is Probably Right Around The Corner The UK government is setting up a task force to examine CBDC possibilities. A statement by Chancellor of the Exchequer Jeremy Hunt published on the UK Parliament page on Dec. 9 indicated that the UK government will increasingly look at CBDC’s possible design scenarios and use cases. “Bringing forward a consultation in the coming weeks to explore the case for a central bank digital currency—a sovereign digital pound—and consult on a potential design. The Bank of England will also release a technology working paper setting out cutting-edge technology considerations informing the potential build of a digital pound,” according to Hunt’s written statement to the...

The European Union (EU) policymakers just drafted a bill to tighten regulation on cryptocurrency exchanges. The new directive requires crypto-related companies to release certain details about their customers for taxation. According to the report, the EU would get ready to accumulate 2.4 billion euros in the event that its proposal was approved. In addition, one of the conditions that must be met before this initiative can be considered a success is that crypto-assets must be acknowledged as a valid method of payment or investment. Also, a clear definition of the taxpayer is still a fundamental requirement. Regulators Want More Transparency The directive will put an end to anonymous transactions on bitcoin exchanges. These are the financial resources that authorities believe were utilized to fund extremist attacks. Accordingly, crypto exchanges and companies that provide crypto services to customers will be obligated to disclose personal information about their users, such as wh...

What do you tend to do with your old items? Your clothes that no longer fit. The old electronics that you’ve replaced. Your old books. Many of us take the simple route and throw them away without a care. But this sort of behaviour could be harming both us and the planet. Unless our items are completely damaged (which they often are not), they can always have a second life with a new owner. By throwing them away, we are missing out on potential income we could make by reselling them. Then there is the environmental impact. Landfills are a major issue around the world and thus, the push to move away from single-use items. And throwing away our old things only contributes to this problem. But what if there was a way to address both? What if you could make an income from your old things while still benefiting the planet? Turns out there is, thanks to Myntist , a blockchain-based marketplace. The Benefits of Myntist Second-hand marketplaces are not a new concept in themselves as many o...