What IS Celsius? Examining The Crypto Lender Amid Its Liquidity Crisis
As crypto lending platform Celsius Network (private) suspends redemptions and inter-account transfers in an effort to hold itself together, a lot of hack writers are describing the collapse of the Terra stablecoin as “the first domino” in this ongoing crypto currency collapse. But this hack writer prefers to describe it as the first glitchy component […]
Bitcoins Tumble Forces Bitfarms To Sell BTC To Meet Collateral Requirements
At least one cryptocurrency miner is feeling the impact of falling market sentiment, and as a result has chosen to take some risk off the table. Bitfarms Ltd (TSX: BITF) this morning indicated it has taken measures to stabilize its financials amid the tumbling price of bitcoin and related currencies. The firm has reduced its […]
Pyramid Meme: Elon Musk Is Being Sued For US$258 Billion For Pushing Dogecoin
It may sound like a premise to a joke but there’s a possibility that a billionaire, a Tesla (Nasdaq: TSLA), a SpaceX, and a dog would walk into a court after a class action suit has been filed against CEO Elon Musk and his companies. The complaint: the defendants promoted dogecoin as a legal tender, […]
BBTV Cuts 14% Workforce, To Focus On High Margin Drivers
BBTV Holdings (TSX: BBTV) announced on Thursday the key items within its “comprehensive cost optimization initiative.” The plan entails a 14% cut down on employee headcount. “This review has been focused on ensuring that our core businesses deliver the best results,” said CEO Shahrzad Rafati. “We have had to make some hard choices, but this is […]
Microsoft’s Internet Explorer Shutdown Leaves Japanese Businesses In The Lurch
Microsoft Corp. (NASDAQ: MSFT) on Wednesday retired its web browser, Internet Explorer, causing a bit of a stir among Japan-based businesses and government agencies that took their time to update their websites and transition off of the browser. Released in 1995, IE was for a time the most-used browser in the world, owning 65% of […]
8 Blocks Capital CEO Says 3AC Ghosted Them After US$1 Million Went Missing From Their Accounts
The plot thickens for Three Arrows Capital. On Thursday, the chief executive of Hong Kong-based cryptocurrency trading firm 8 Blocks Capital accused Three Arrows, also called 3AC, of using about US$ 1 million of their funds “to answer their margin calls.” 8 Blocks CEO Danny Yuan explained their firm’s relationship with the troubled crypto-based hedge […]
WWE’s Mr. McMahon Is Stepping Back From CEO, Chairman Duties Until Probe On Alleged Misconduct Concludes
WWE (NYSE: WWE) announced this morning that its Chairman and CEO Vincent McMahon will be temporarily stepping away from his executive and board duties. This follows the board’s special committee launching an investigation into alleged executive misconduct by McMahon and John Laurinaitis, Head of Talent Relations. “[Effective] immediately, McMahon has voluntarily stepped back from his […]
Tilray: Canaccord Lowers Target On Expected Adult-Use Sales Slump, Revised Hexo Deal
Earlier this week, Tilray Brands (TSX: TLRY) announced an update to their strategic alliance with Hexo Corp (TSX: HEXO) as well as amendments to HEXO’s debt. First off, Tilray announced that they have cut the conversion price on HEXO’s debt by more than 50%, dropping the price down to C$0.40 from C$0.85. Additionally, Tilray expects […]
CGX Energy To Relinquish Berbice, Demerara Blocks In Guyana As Focus Turns To Corentyne
CGX Energy (TSXV: OYL) is close to going all-in on its Corentyne block, found offshore of Guyana. The company this morning, in conjunction with its joint venture partner Frontera Energy (TSX: FEC), indicated that it is focusing “exclusively” on exploration within this oil and gas block. As part of this exclusive focus on exploration at […]
Babel Finance Latest Crypto Services Provider To Halt Customer Withdrawals
Contagion continues within the crypto industry following the continued decline of bitcoin. Babel Finance, a crypto-services firm based in Asia, this morning announced that it has halted withdrawals as a result of the trouble in the markets. Posting a notice to its users on its website this morning, the company stated that it is “facing […]