Crypto News

Embezzlement, $26 Million Loss Bankrupts Korean Crypto Exchange Coinbin

Coinbin, the South Korean Cryptocurrency exchange which took over hacked exchange Youbit, is filing for bankruptcy with losses equating to over $ 26 million. Cryptocurrency and Cash Transactions Stopped According to reports by Business Korea, the bankruptcy announcement was made by Coinbin CEO  Park Chan-kyu on February 20, 2018. After which cryptocurrency and cash settlements […]

Crypto News

Exit Scam? Mismanagement? Coinbase Digs Into Failed Crypto Exchange QuadrigaCX’s ‘$150 Million Loss’

Brian Armstrong, the CEO of Coinbase, one of the world’s largest crypto exchanges, said that the company conducted internal research on the QuadrigaCX case. QuadrigaCX has been claiming that Gerald Cotten, its CEO, passed away with sole control over its cold wallets containing $ 150 million in various cryptocurrencies including Bitcoin and Ethereum. However, independent […]

Crypto News

China’s Uber-Killer Didi Suffers $1.6 Billion Loss, Begins Complete Overhaul With 2,000 Layoffs

Didi Chuxing, the ride-hailing and transport service based in China, has outlined steps to commence a firm-wide layoff that is expected to affect 15% of its total workforce after suffering a reported $ 1.6 billion loss in 2018. Cheng Wei, Didi’s Chief Executive Officer, told management that the layoffs are necessary if the company is […]

Bitcoin

QuadrigaCX Imbroglio Continues: Cotten Mentioned Bitcoin Key Loss In 2014

Since NewsBTC’s last updates on the QuadrigaCX situation, little knowledge has been garnered about the current whereabouts or legitimacy of the exchange’s supposed Bitcoin, Ethereum, Litecoin, and other digital asset holdings. But, this hasn’t stopped astute industry participants from scouring the web for clues, as victims continue to clamor for their hard-earned funds. Bitcoin Private Key […]

Crypto News

Notorious Bitcoin Exchange QuadrigaCX May be Sold to Compensate Crypto Victims for $150m Loss

When QuadrigaCX announced last month that CEO Gerald Cotten had suddenly died and roughly $ 150 million in cryptocurrency ($ 180 million Canadian) was inaccessible as a result, the crypto world went nuts. According to a CBC report today, the notorious Bitcoin exchange may be sold to compensate victims. Additionally, Cotten’s encrypted laptop will be […]

Bitcoin

Bitmain IPO in ‘Death Spiral’? Rumors Of $740M Q3 Loss as Bitcoin Cash Crashes

Fresh rumors over the financial health of Bitcoin mining giant Bitmain cast a shadow over the company again this week, suggesting it faces losses close to $ 1 billion. Bitmain’s Worst Quarter? Originally reported by the Twitter account known as BTCKING555 December 3, the author of which almost exclusively tweets about Bitmain, unreleased quarterly earnings […]