Category: Companies

Coinbase to ‘decompose’ its application server in wake of recent outage

Coinbase to ‘decompose’ its application server in wake of recent outage

Coinbase says it will divide up its application server into separate services in an effort to “reduce the blast radius” following an outage last week that impacted the API used for the exchange’s website and mobile apps.  The Coinbase team said Friday that by “decomposing” its application server, it could have different scaling profiles for […]

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Galaxy Digital is launching a new bitcoin mining business unit

Galaxy Digital is launching a new bitcoin mining business unit

Crypto investment company Galaxy Digital announced Friday that it is launching a new suite of financial services and tools for the bitcoin mining sector. What’s more, the Toronto-listed firm is also mining bitcoin for itself via a third-party, U.S.-based data center, which is hosting hardware owned by Galaxy. Galaxy’s new business unit, dubbed Galaxy Digital […]

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Deltec, the bank for stablecoin issuer Tether, bought ‘large position’ in Bitcoin for clients

Deltec, the bank for stablecoin issuer Tether, bought ‘large position’ in Bitcoin for clients

Deltec, the Bahamas-based bank that holds the reserves for stablecoin giant Tether, holds a “large position in bitcoin” according to its chief investment officer. CIO Hugo Rogers disclosed the investment during a year-in-review video published on January 14. Specifically, the comments about the bitcoin position were in the context of a question about Deltec’s “high […]

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Coinbase unveils ‘Asset Hub’ for digital asset issuers that want to list their tokens

Coinbase unveils ‘Asset Hub’ for digital asset issuers that want to list their tokens

Coinbase is launching a new service for digital asset issuers that seek a listing on the biggest U.S.-based crypto exchange. Dubbed the Asset Hub, Coinbase’s service is “a simple, streamlined product for issuers to list their assets and do business with Coinbase,” the company’s chief product officer, Surojit Chatterjee, wrote in a blog post published […]

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Investment firm Arca raises $10 million in Series A funding

Investment firm Arca raises $10 million in Series A funding

The digital asset-focused investment firm Arca received $10 million in Series A funding. The round was led by RRE Ventures and included participants such as Loews Hotels & Co. president Alex Tisch. James Robinson, RRE’s founder, has joined Arca’s advisory board as part of the deal. “We seek to create bespoke opportunities for investors, and […]

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Visa, Plaid abandon billion-dollar acquisition plans in face of U.S. government opposition

Visa, Plaid abandon billion-dollar acquisition plans in face of U.S. government opposition

Visa’s bid to acquire and merge with fintech unicorn Plaid has come to an end. The financial services giant said late Tuesday that the two firms have terminated their plans, a move that comes months after the U.S. Department of Justice filed an antitrust lawsuit. Visa and Plaid went public with the acquisition bid in […]

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Walmart unveils new fintech startup in partnership with Ribbit Capital

Walmart unveils new fintech startup in partnership with Ribbit Capital

Mega-retailer Walmart has founded a financial services-focused fintech startup alongside Ribbit Capital, an investor of fintech firms, according to a Monday announcement. The as-yet-unnamed startup will be centered around “modern, innovative and affordable financial solutions,” according to a press statement.  The startup’s board will include Ribbit managing partner Micky Malka, Walmart U.S. CEO John Furner […]

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South Korean gaming giant Nexon denies reports that it plans to acquire Bithumb

South Korean gaming giant Nexon denies reports that it plans to acquire Bithumb

South Korean gaming giant Nexon has denied that it plans to acquire crypto exchange Bithumb, as local media outlets claimed last week. “NEXON Co., Ltd. has not invested in Bithumb and has no plans to acquire that company,” Nexon spokesperson Jeff Brown told The Block in an email Sunday. “We cannot comment on the investment […]

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Ripple CEO Brad Garlinghouse responds to questions surrounding the SEC lawsuit

Ripple CEO Brad Garlinghouse responds to questions surrounding the SEC lawsuit

Ripple CEO Brad Garlinghouse says the firm tried to settle with the Securities and Exchange Commission (SEC) and plans to continue settlement discussions into the new administration. In threads of tweets on Thursday, the CEO and his general counsel Stuart Alderoty addressed questions surrounding the SEC’s unregistered securities lawsuit filed against the firm last month. Both said things […]

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