Cryptocurrency
Hacked crypto startup Nomad offers a 10% bounty for return of funds after $190 million attack
Over $2 billion has been stolen from cross-chain bridges so far this year, according to crypto analysis firm Chainalysis Jakub Porzycki | Nurphoto via Getty Images Crypto company Nomad said it’s offering hackers a bounty of up to 10% to retrieve user funds after losing nearly $200 million in a devastating security exploit. Nomad pleaded […]
Read More
Coinbase shares soar more than 20% in boost from meme traders, BlackRock crypto deal
The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Shares of Coinbase soared on Thursday after the crypto exchange announced a partnership with BlackRock that will allow its institutional clients […]
Read More
It has been a miserable month for crypto — and it’s only the third day of August
It has been a rough month for the crypto sector, and it’s only the third day of August. From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto ponzi schemes, this corner of the market can’t catch a break. The developments add to […]
Read More
Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far
The logo of cryptocurrency platform Solana. Jakub Porzycki | NurPhoto via | Getty Images Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana’s sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of […]
Read More
Voyager CEO made millions in stock sales in 2021 when price was near peak
Stephen Ehrlich, CEO of bankrupt cryptocurrency exchange Voyager Digital, made millions of dollars selling Voyager shares in February and March 2021 when shares were near their peak, nineteen months before the crypto lending firm declared bankruptcy in July 2022, financial records show. Ehrlich’s gains were propelled by the stratospheric increase in Voyager’s stock price, which […]
Read More
Bankrupt crypto lending platform Celsius is trying to hire its CFO back at $92,000 a month, filings say
Embattled lending platform Celsius wants to bring back ex-CFO Rod Bolger and pay him about $92,000 a month, prorated over a period of at least six weeks. The embattled lender says it needs Bolger to help it navigate bankruptcy proceedings as an advisor, according to a motion filed with the Southern District of New York. […]
Read More
Robinhood cutting about 23% of jobs, releases second-quarter earnings
Robinhood CEO Vlad Tenev said Tuesday in a press release that the fintech company will reduce its headcount by approximately 23%. The layoffs will be primarily in operations, marketing and program management. In the release, Tenev blamed “deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash.” Robinhood […]
Read More
MicroStrategy CEO Saylor moves to chairman role, focusing on strategy and bitcoin
MicroStrategy’s Michael Saylor is leaving his role as CEO to become Executive Chairman of the company, according to a statement released by the company on Tuesday afternoon. The company’s president, Phong Le, will take the reins from Saylor. Saylor has been in the role of chief executive since launching the company in 1989. MicroStrategy went […]
Read More
Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help
Celsius Network, once a titan of the crypto lending world, is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users. Some of the 1.7 million customers ensnared by the alleged fraud are now directly pleading with the Southern […]
Read More
Hackers drain nearly $200 million from crypto startup in ‘free-for-all’ attack
Billions of dollars of value have been wiped off the cryptocurrency market in recent months. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Hackers drained almost $200 million in cryptocurrency from […]
Read More