El Salvador to change Bitcoin plans to secure $1.3bn IMF loan
El Salvador would also receive $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank Under the IMF agreement, El Salvador would change a legal requirement making businesses accept Bitcoin as payment Since 2021, the IMF has been against El Salvador’s Bitcoin Law, asking the government to “narrow its […]
Swan Bitcoin halts IPO plans and shuts down mining operations
Swan Bitcoin delays IPO plans due to shutdown of its mining operations. CEO cites reduced revenue from mining as reason for halting IPO efforts. Mining sector faces challenges, with firms like Bitfarms and Northern Data adapting. Swan Bitcoin, a financial services firm specializing in Bitcoin investments, has announced a significant strategic shift. Cory Klippsten, the […]
Coinbase confirms plans of integrating the Lightning Network
Coinbase says it will add support for the Bitcoin Lightning Network. Cathie Wood praises the crypto exchange for the decision. Coinbase shares are down nearly 30% versus their YTD high. Coinbase Global Inc has decided to integrate the Lightning Network that aims at making Bitcoin a viable option for faster and cheaper global payments. How […]
Tether and City of Lugano launch Plan Business Hub celebrating Plan’s anniversary
The Plan Initiative was launched on March 03, 2022. The main objective of the Plan was to scale Lugano’s blockchain capabilities. Tether and the City of Lugano have launched the Plan Business Hub to celebrate the first anniversary of the Plan. It is now a year since the Plan Initiative was launched in the city […]
MicroStrategy BTC paper loss hits $1.3B but no plans to stop trading bitcoin
MicroStrategy registered $34 million in its first-ever bitcoin sale. The company registered a paper loss of over 1 billion in 2022. MicroStrategy made its first bitcoin purchase in August 2020. Despite making a paper loss of about $1.3 billion in 2022, MicroStrategy’s chief financial officer, Andrew Kang, said that the company will continue trading bitcoin. […]
Bankrupt BlockFi plans to sell $160M Bitcoin mining hardware loans
BlockFi filed for Chapter 11 bankruptcy in November 2022 citing exposure to the just collapsed FTX. The plan to sell off the loans backed by Bitcoin mining machines is part of the bankruptcy proceedings. Bidders have until before the end of January to submit offers. About two months after BlockFi filed for Chapter 11 bankruptcy, […]