The latest Bitcoin, DeFi, NFTs and web3 news from CryptoSlate.
Mining giant is forced to sell-out 79% of BTC to pay debt
One of the largest mining companies, Core Scientific is selling mined tokens in June to buy new machines and repay its debt amid the coldest crypto winter ever.
Bitstamp backtracks on ‘inactivity fee’ charges
Bitstamp CEO said the community reaction to the inactivity fees charges forced a rethink of the decision.
BlockFi confirms it holds 50% of client funds in short-term positions with 10% in collateral
The crypto lending firm confirmed it holds similar collateral levels to fractional reserve banking while showcasing its ability to deliver for clients with 100% access to funds
Shiba Inu to launch SHI stablecoin, TREAT reward token in 2022
Shytoshi Kusama says Shiba Inu developers are focused on completing Ryoshi plan for the meme token ecosystem.
FTX willing to use $2B in cash to bail out crypto industry, stop contagion
FTX is looking to invest to stop the "spread of contagion" across the ecosystem with up to $2B in cash ready to be deployed.
Crypto mining profitability varies wildly based on location
A recent report from 911 Metalurgist explored the cost and profitability of crypto mining, finding that mining 1 BTC will set you back anywhere between $1,400 and $246,500 — depending on where you are.
Fresh allegations against Celsius renew calls for EU crypto compensation fund
Attorney Jonathan Levy, representing victims of crypto crime, proposes a "superfund" paid for by imposing a tariff on crypto transactions to compensate victims.
US, South Korea to cooperate over Terra investigation
South Korea and the United States have agreed to share investigation data about the Terra network crash.
India is investigating crypto exchanges compliance to foreign exchange laws
The top executives of several exchanges operating in the country have been summoned by the authorities.
Why industry insiders believe crypto winter will improve Web3
While prices may be down, the crypto industry remains extremely bullish on the future of crypto. In fact several insiders told CryptoSlate that the bear market is good for the ecosystem.
Bitstamp introduces ‘inactivity fee’ to shore up revenue
Bitstamp said the new fee will not apply to users in the U.S. or those with an account balance of over €200.
OpenNode partners Lemon Cash to give Argentinians access to Bitcoin’s Lightning Network
Over 1 million of Lemon Cash customers will now have access to Bitcoin's Lightning Network thanks to the wallet's partnership with OpenNode.
Voyager Digital caves and files for Chapter 11 bankruptcy
Voyager joins the growing list of crypto firms seeking bankruptcy protection from its creditors amid the downturn.
India’s crypto tax impacted trading frequency of 83% of traders, says survey
India's 30% tax on cryptocurrencies has negatively impacted trader sentiment — a new survey shows just how much.
U.S. states rethinking crypto tax payments amid bear market
The bear market prices suspended the launch of crypto tax payments in all states except Colorado and Utah, who are facing logistical challenges.