Bitcoin (BTC) mining company Greenidge Generation has significantly reduced its debt with the investment management firm, New York Digital Investment Group (NYDIG). On Jan. 30, Greenidge entered into several agreements associated with its secured debt with NYDIG, transferring ownership of Bitcoin mining hardware and certain credits to NYDIG. The transaction reduced the principal and accrued interest balance of debt with NYDIG from about $76 million to roughly $17 million, resulting in total aggregate debt reduction of around $59 million. One of the agreements, the senior secured loan agreement, also enables an opportunity for a voluntary prepayment of the loan by …

Crypto companies tightened their purse strings in the first month of 2023, with at least 2,900 crypto staff cut loose across 14 crypto firms in January. The latest firm to reportedly initiate a layoff is the crypto infrastructure provider Prime Trust which reduced its employee count by a third according to reports. The reduction would equate to an estimated 100 or so staff cut as Prime had 312 employees on LinkedIn at the time of writing. Other recent cuts over the last few days include 30 staff from the crypto platform Matrixport being let go according to a Jan. 27 …

Bankrupt crypto lender BlockFi has been granted court approval to sell off its crypto mining equipment as part of ongoing efforts to repay its creditors. A court document filed on Jan. 30 in the United States Bankruptcy Court for the District of New Jersey stated that the approval for BlockFi to sell its assets was on the grounds that it was “fair, reasonable and appropriate under the circumstances.” The court acknowledged the sale of the assets is “designed” to maximize the recovery and “realizable value” of the company. With the court giving BlockFi the green light, more bids are now …

United States-based crypto exchange Coinbase has become the latest crypto wallet provider to roll out transaction previews and blocklists amid a rise in crypto thefts. On Jan. 30, the crypto exchange announced it had integrated a new suite of safety features to its wallet app to make it easier for users to spot and take action on potential foul play from scammers. Such integrations include a transaction preview feature which gives the user an estimation of how users “token and NFT balances will change” during a transaction before the confirm button is hit. The firm has also rolled out token …

Despite a challenging year for crypto, 82% of millionaire clients had looked into investing in digital assets such as Bitcoin (BTC) in 2022, according to a recent poll conducted by financial advisory firm deVere Group. The poll results, released on Jan. 30, found that eight out of 10 of the firm's high net worth (HNW) clients surveyed with between $1.2 million and $6.1 million of investable assets sought advice on crypto from financial advisers in the last 12 months. 82% of millionaires seek advice on crypto as Bitcoin soars#PressRelease https://t.co/nv6HSZBxEs — deVere Group (@deveregroup) January 30, 2023 Nigel Green, the …

Embattled crypto investment firm Alameda Research is suing bankrupt crypto lender Voyager Digital in an effort to claw back loan repayments FTX made before it collapsed in November. Lawyers managing the FTX and Alameda bankruptcy case sued Voyager for $445.8 million in a Delaware court on Jan. 30. While both companies filed for bankruptcy in 2022, Voyager's chapter 11 filing came four months earlier in July. Following Voyager's Chapter 11, the crypto lender demanded repayment of all outstanding loans to FTX and its affiliate investment firm Alameda Research. According to FTX lawyers filing on behalf of Alameda, these loan repayments …

Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. According to a Jan. 30 Financial Times report, two people familiar with Twitter’s plans said the payments feature will support fiat currencies to start but be built to accommodate cryptocurrencies should the opportunity arise. Twitter has long teased bringing payments to the social media platform — forming part of Musk’s stated plan to make Twitter an “everything app.” Buying Twitter is an accelerant to creating X, the everything app — Elon Musk …

The two people who helped former FTX CEO Sam Bankman-Fried with his $250 million bail bond could have their identities revealed next month after a recent ruling by United States District Judge Lewis Kaplan. According to the Jan. 30 filing, Kaplan granted the application to reveal the names of the two individuals to the public. However, Judge Kaplan has given Bankman-Fried's legal counsel until Feb. 7 to appeal. Bankman-Fried was released from custody in December 2022 after two unknown people signed on as sureties for the $250 million bond along with Bankman-Fried's parents, Joseph Bankman and Barbara Fried. Eight major …

Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin (BTC) exchange-traded fund (ETF) it is seeking to create. Osprey stated in the suit that it is the only competitor to Grayscale on the over-the-counter traded Bitcoin trust asset management market, and Grayscale maintained its leading position through deceit: “Only because of its false and misleading advertising and promotion has Grayscale been able to maintain to date approximately 99.5% market share in a two-participant …

On Jan. 30, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital asset investments experienced a surge in inflows last week, reaching $117 million, the highest since July 2022. CoinShares reported that the sector's total asset under management (AuM) rose to $28 billion, a 43% increase from its November 2022 lows. The improvement in investment product volumes was evident, with $1.3 billion traded during the week, a 17% increase compared to the year-to-date average. Meanwhile, weekly volumes in the digital asset market have risen by an average of 11%. Germany saw the highest …

Last year proved that the Web3 space is not just a phenomenon but rather the future of digital interactions. However, as pervasive as the space has become, many are still skeptical as to how it can and will be a part of their lives. Many developers are seeking ways to bridge the gap between these two iterations of the web. Cointelegraph spoke with Bruno Guez, the CEO of Revelator, to understand why he believes already existing Web2 financial tools like credit cards can actually be bridges to usher new users into Web3. Revelator, which works in the music industry that …

Cryptocurrency exchange Binance has been silently shutting down multiple accounts on the platform in relation to the Bitzlato investigation, according to several users. On Jan. 18, a group of Russian-speaking Binance clients complained about blocked accounts and not being able to withdraw their funds from the exchange. The affected users created a Telegram group chat to report about the issues, stating that the accounts were blocked without a warning. The members of the group — now counting more than 1,000 members — promptly drew parallels between the blockages and enforcement action against the crypto firm Bitzlato by the United States …