Black Hills Energy signs deal to power Bitcoin mining in Wyoming

Black Hills Energy signs deal to power Bitcoin mining in Wyoming
Black Hill Energy, a provider of electricity, natural gas and coal, has recently announced that it has struck its first deal to offer power to a crypto-currency mining unit under Blockchain Interruptible Service Tariff by Wyoming. This step was made to lure and keep Bitcoin miners in the region. The company said that the mining facility will be one of the biggest bitcoin mining operators in the region and is anticipated to be functional by the

DeFi app Solend votes to take over whale account to avoid liquidation

DeFi app Solend votes to take over whale account to avoid liquidation
Decentralized finance (DeFi) platforms are planning to go to maximum lengths to restrict the consequence of a cryptocurrency sell-off. One such platform is Solend that has recently tried to get control over its largest account, called “whale” investor, that could substantially influence the movements in the market. The users of Solend have, however, voted for blocking the move. Solend, a DeFi app that allows users to lend and bo

Crypto exchange BitOasis lays off employees amid turmoil in the market

Crypto exchange BitOasis lays off employees amid turmoil in the market
The cryptocurrency market has witnessed a sharp fall after the halts on transactions and withdrawals by one of the largest crypto lender Celsius Network. The halt is implemented due to the fears of wider fallout in the digital currency market which was already weakened by the demise of the Luna tokens and TerraUSD, in the previous month. BitOasis, Middle East region’s largest cryptocurrency exchange for Bitcoin and plus 65 cryptocurrenci

Huobi Thailand to shut down in July amid tightening crypto regulations

Huobi Thailand to shut down in July amid tightening crypto regulations
Crypto exchange platform Huobi Thailand is reportedly shutting down its operations permanently in the country. The development comes after the government is looking to strictly regulate the use of crypto-based payments amid an unstable crypto market. Thailand has managed to position itself next to the U.S. and Vietnam for having one of the highest adoption rates of decentralized financial services (DeFi) globally. In February, the country had

Coinbase lays off 1,100 employees amid a collapse in crypto prices

Coinbase lays off 1,100 employees amid a collapse in crypto prices
Coinbase, one of the leading digital currency trading platforms, has recently sacked almost a fifth of its work staff owing to the collapse in stock and crypto prices. According to a credible source, the layoff will lead to a cut of 18% of full-time jobs. Coinbase has approximately 5,000 full-time employees, out of which 1,100 people are being laid off. Justifying the layoff, CEO of Coinbase, Brian Armstrong pointed toward the possibility of a

BlockFi & Crypto.com lays off workers amid bloodbath in crypto market

BlockFi & Crypto.com lays off workers amid bloodbath in crypto market
BlockFi, a platform that facilitates crypto trading and lending, has recently announced the layoff of 20% percent of its 850 employees, which is equivalent to around 170 to 200 workers. Zac Prince, the CEO of BlockFi, tweeted that the layoff is done amid the dramatic shift in the macroeconomic conditions and to push BlockFi to become profitable. BlockFi is not the only cryptocurrency company laying off employees. Recently, another crypto tradin

Moneygram introduces USDC crypto-to-cash and vice versa program

Moneygram introduces USDC crypto-to-cash and vice versa program
Moneygram, a US-based cross-border remittance and payments company, has recently announced the unification of a dollar-pegged stablecoin, USDC, as an asset for settlement for its crypto to cash and cash to crypto program. The crypto program is part of the agreement that Moneygram signed with the Stellar Development Foundation in October 2021 when Moneygram announced that it will extend a program that will allow the customers to send USDC-based r

NEAR joins hand with Pocket Network to improve Web3 experience

NEAR joins hand with Pocket Network to improve Web3 experience
NEAR, an application platform designed to bring blockchain to a wide variety of mainstream applications, has integrated with blockchain data platform Pocket Network to solve key Web3 problems by providing substantial bandwidth for developers to build on Web3 across blockchains. Web3 is in buzz as the growth of cryptocurrency and non-fungible-tokens highlighted the need for decentralization. However, getting a web prepared for blockchain-b

Coinbase to extend hiring freeze as cryptocurrency trends downward

Coinbase to extend hiring freeze as cryptocurrency trends downward
Coinbase, a digital currency wallet platform that enables transactions of new digital currencies like Bitcoin, Ethereum, and Litecoin, has announced that it is putting a halt on hiring new employees, as well as withdrawing various job offers which are already accepted by potential workers amid current market conditions and ongoing business prioritization efforts. L.J. Brock, Chief People Officer of Coinbase, said that the company started to sl