Crypto Lender BlockFi Files For Bankruptcy

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

Crypto Lender Genesis Is On The Chopping Block As Contagion Continues

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 Launches BOL2: Community For Bitcoin Development

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 Release Day One Bankruptcy Filing: “Complete Failure”

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 Launches Bitcoin ECommerce Platform SatsCrap

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

FTX And Bitcoin: The Good, The Bad And The Ugly

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

Built On Bitcoin’s Lightning Network, BLIP Wants To Make Your Chats Unstoppable

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

DC-Based Coffee Company Launches Bitcoin Blend In Honor Of El Salvadoran Farmers

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