BlockFi has filed for chapter 11 bankruptcy, according to a press release. The lending platform is the latest victim of contagion within the industry that originated with the collapse of the cryptocurrency exchange FTX. According to the filing, BlockFi has over 100,000 estimated creditors and an estimated $1-10 billion in liabilities. The filing confirms that … Read more
This is an opinion editorial by Morgan Rockwell, founder of Bitcoin Kinetics. I’m not concerned with Sam Bankman-Fried allegedly getting a loan from Alameda, which was actually FTX customer funds wired through Alameda to be credited on FTX. I’m not concerned with the moral compass of the celebrity investors who gave billions to a kid … Read more
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. Genesis Looks For Liquidity Injection If you don’t know about Genesis Trading perhaps you should. They … Read more
Blockstream, a company focused on scaling bitcoin, is launching a platform to connect developers, entrepreneurs, and Bitcoiners from around the world to build on Core Lightning and the Liquid Network, per a release sent to Bitcoin Magazine. Build On L2 (BOL2) encourages developers to challenge narratives in the broader cryptocurrency space that suggest blockchain projects … Read more
FTX Exchange, following the collapse of its business, has filed its first day declaration in bankruptcy court citing a “complete failure of corporate controls,” per a court filing. John J. Ray III, the newly appointed CEO of FTX Exchange, addressed the many issues facing FTX Exchange and the lack of leadership exhibited by Sam Bankman-Fried … Read more
Scarce City, a bitcoin-focused marketplace, has launched a marketplace that sells anything in exchange for bitcoin known as SatsCrap, per a release sent to Bitcoin Magazine. SatsCrap allows users to list or purchase products with bitcoin and thus maintain user privacy. Anyone with a device connected to the internet can list or purchase a product … Read more
This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps. When one of the Bitcoin Magazine editors reached out to ask what I thought the FTX collapse meant for bitcoin, my first instinct was simply, … Read more
A new Bitcoin-based encrypted chat platform has been announced at the Adopting Bitcoin conference, BLIP. The new app, yet to be publicly released, leverages Hexum, a proprietary multilayer encryption method, also created by the team behind BLIP, that promises a more secure communication than popular end-to-end (E2E) encrypted apps. “WhatsApp and Signal use one static … Read more
Compass Coffee, a cafe company based in Washington DC, has partnered with the Embassy of El Salvador to launch Bitcoin Blend, a limited-edition roast dedicated to the farmers of El Salvador, per a release sent to Bitcoin Magazine. The company hosted a conference and panel discussion on Bitcoin and El Salvador, featuring the Ambassador of … Read more
The below is a direct excerpt of Marty’s Bent Issue #1282: “The personification of dirty grift.” Sign up for the newsletter here. Every once in a while, the world is reminded of how easy it is for some people to get completely duped by a con man. The last week has been one such reminder. … Read more