Bitcoin miner Canaan scales operations despite low earnings, CEO says

Chinese cryptocurrency mining firm Canaan will continue to expand operations despite the ongoing bear market and an associated drop in earnings, according to the company’s CEO. Canaan posted a 90% over-the-quarter decrease in net income in Q3 2022, the firm officially announced on Nov. 14. The firm’s Q3 net income amounted to 61.1 million renminbi (RMB), or $8.6 million, which is a 88% decrease from the same period in 2021, Canaan noted. The company’s revenues dropped about 41% from 1.7 million RMB ($230,000) in Q2 2022, while gross profit plummeted…

Crypto Exchange Binance Dumping All FTX Tokens on Its Books — CEO Cites ‘Recent Revelations’ – Altcoins Bitcoin News

Binance is dumping all of its FTX token (FTT) holdings “Due to recent revelations that have come to light,” CEO Changpeng Zhao has confirmed. “Regarding any speculation as to whether this is a move against a competitor, it is not,” he added. “Our industry is in its nascency and every time a project publicly fails it hurts every user and every platform.” Binance Liquidating All FTX Tokens on Its Books The CEO of global cryptocurrency exchange Binance, Changpeng Zhao (CZ), announced via Twitter Sunday that his exchange is liquidating all…

Binance CEO Estimates that the Firm May Spend Over $1B on Deals by the End of 2022

Changpeng Zhao, the CEO of global leading digital-asset platform Binance has announced that the firm may spend more than $1 billion on investment by the end of 2022.  Zhao, also known as ‘CZ’ made this revelation in an interview with Blomberg and claimed that Binance could spend more than $1 billion on investments and asset purchases, despite what appears to be a volatile crypto market.    Recall that Binance has also invested $325 million in 67 additional projects in recent times. Meanwhile, the VC division of Binance has made several…

Blockchain interoperability goes beyond moving data from point A to B — Axelar CEO Sergey Gorbunov

Cross-chain communication between blockchains is more than just moving data from point A to B, but how it can connect applications and users for enhanced experiences and fewer gas fees in Web3, outlined Sergey Gorbunov, Axelar Network co-founder and CEO, speaking to Cointelegraph’s business editor Sam Bourgi on Sept. 28 at Converge22 in San Francisco.  As the crypto industry has developed over the past few years, blockchain interoperability has seen a surge in demand, attracting venture capital and welcoming players, such as Axelar, which reached unicorn status in February. According…

Pantera Capital’s CEO suggests Blockchain growth will continue despite economic turmoil

The economic landscape may seem dire at the moment, but it’s unlikely to affect blockchain development, according to Pantera Capital CEO Dan Morehead. In an interview for Real Vision on Thursday, the venture capitalist said that he believes blockchain technology will perform based on its own fundamentals, regardless of the conditions indicated by traditional risk metrics: “Like any disruptive thing, like Apple or Amazon stock, there are short periods of time where it’s correlated with the S&P 500 or whatever risk metric you want to use. But over the last…

Circle CEO Allaire Supports Binance Stablecoin Decision

Jeremy Allaire, the co-founder and CEO of USD Coin (USDC) stablecoin issuer Circle, has responded to the Binance cryptocurrency exchange’s move to stop supporting USDC trading. The Circle CEO said on Tuesday that Binance’s upcoming changes could help make USDC the standard stablecoin rail between centralized exchanges (CEXs) and decentralized Exchanges (DEXs). Allaire thinks that the development is not only good for Binance but also an ultimate benefit to USDC utility and adoption. USDC has a higher market cap than BUSD and also enjoys a greater volume and usage outside of Binance’s…

A message from Coinbase CEO and Cofounder, Brian Armstrong | by Coinbase | Jun, 2022

By Brian Armstrong, CEO and Cofounder Earlier today, I shared the following note with all Coinbase employees. Team, Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn. I want to walk you through why I am making this decision below, but first I want to start by taking accountability for how we got here. I am the CEO, and the buck stops with me. Over the past month, I’ve had many conversations with…

SWIFT probably won’t exist in 5 years, says Mastercard CEO

Mastercard CEO Michael Miebach said on Tuesday that he does not expect SWIFT, one of the most widely used platforms for cross-border fiat transactions, to exist in five years’ time.  Miebach was speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland. Kicking off GBBC’s #BlockchainCentral Davos session on CBDCs with @eva_szalay @FT @YuvalRooz @digitalassetcom @Jbrookslassiter @Digital_Dollar_ @MiebachMichael @Mastercard @BIS_org @DBTreat @Accenture pic.twitter.com/C2fvgy0Bij —…

NFT custody is ‘the missing piece’ for mainstream adoption, says Veritic CEO

On day four of the World Economic Forum 2022, presentations on nonfungible tokens (NFTs) have taken place with speakers sharing their takes on NFT use cases and adoption.  At the Blockchain Hub Davos, speakers Veritic CEO Stephan Holzer and Seal Storage Technology CEO Alex Altman spoke on the importance of NFTs, their role in society, and how the community can attract the mainstream into using the technology. In his lecture, Holzer argued that simplifying access to NFTs may push mainstream adoption forward. According to the Veritic CEO, minting in more…