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CATEGORY: merger


Amazon faces UK merger probe over $4B Anthropic AI investment

Author: Cointelegraph by Tristan Greene
United States
Aug 09, 2024 12:00

Amazon faces UK merger probe over $4B Anthropic AI investment

Microsoft and OpenAI face similar scrutiny as Europe and the UK seek to identify the line between investment and acquisition.

Aug 22, 2024 02:15

Bitfarms to Acquire Stronghold Digital Mining in $125 Million Deal


Bitfarms will acquire Stronghold Digital Mining in a stock-for-stock merger valued at $125 million, expanding its energy portfolio significantly. (Read More)

ASI token merger phase 1 results in delisting of AGIX, OCEAN

Author: Cointelegraph by Arijit Sarkar
United States
Jul 03, 2024 12:00

ASI token merger phase 1 results in delisting of AGIX, OCEAN

The initial phase of the ASI token merger sees AGIX and OCEAN tokens integrate into Fetch.ais FET with limited exchange support.

Jul 19, 2024 05:50

FET Surges 12% Ahead Of ASI Token Merger Phase 2, Can It Hit $5?

The now-rebranded Fetch.AI (FET) regained the $1.4 price range amid the market recovery and is currently testing the $1.5 resistance level. Over the weekend, the AI token saw a nearly 40% recovery and seems to be preparing for a breakout. Market watchers have predicted short and long-term targets for the token after the Artificial Superintelligence [...]

The post FET Surges 12% Ahead Of ASI Token Merger Phase 2, Can It Hit $5? appeared first on Crypto Breaking News.

Jul 02, 2024 01:20

Token merger of SingularityNET, Fetch.ai, and Ocean Protocol goes live

SingularityNET, Fetch.ai, and Ocean Protocol officially started their ASI token merger, starting with AGIX and OCEAN being merged into FET.

The post Token merger of SingularityNET, Fetch.ai, and Ocean Protocol goes live appeared first on Crypto Briefing.

SingularityNET announces ASI token merger dates for FET, AGIX, OCEAN

Author: Cointelegraph by Josh O'Sullivan
United States
Jun 04, 2024 12:00

SingularityNET announces ASI token merger dates for FET, AGIX, OCEAN

SingularityNET announces the merger dates for FET, AGIX and OCEAN into the new ASI token, aiming to create a unified decentralized AI network.

Jun 28, 2024 01:20

Coinbase opts out of ASI token merger migration

Coinbase said it will not facilitate the migration of assets related to the ASI token merger, diverging from other major exchanges.

The post Coinbase opts out of ASI token merger migration appeared first on Crypto Briefing.

More crypto AI alliances emerge following $7.5B token merger

Author: Cointelegraph by Zhiyuan Sun
United States
May 14, 2024 12:00

More crypto AI alliances emerge following $7.5B token merger

Many crypto projects have integrated AI as part of their everyday routine since the introduction of LLMs last year.

Mar 12, 2023 06:55

South Korea Invests in Metaverse Fund for Economic Growth


The South Korean government has invested 24 billion Korean won ($18.1 million) in a fund dedicated to driving metaverse initiatives in the country, with a total fund of more than 40 billion Korean won ($30.2 million). The Metaverse Fund will support the mergers and acquisitions of various firms in the metaverse ecosystem and help domestic metaverse-related companies compete with global players, as the government sees the metaverse as a new economic growth engine. (Read More)

Mar 10, 2023 10:30

DeFi Stablecoin Exchange mStable Expects 4 Buyout Bids: Source

“The project will find it very difficult to raise with the current token given its value,” he said, referring to the MTA token, which at 2 cents is down 93% in a year. He continued: “The protocol isn’t earning enough from its products to self-sustain; and the [decentralized autonomous organization’s] runway is continuing to decrease [...]

The post DeFi Stablecoin Exchange mStable Expects 4 Buyout Bids: Source appeared first on Crypto Breaking News.

Mar 01, 2023 09:55

A Hardfork of Optimism Goerli is Planned for March – Can It Rejuvenate the Bulls?

The post A Hardfork of Optimism Goerli is Planned for March – Can It Rejuvenate the Bulls? appeared first on Coinpedia Fintech News

Optimism (OP), an Ethereum (ETH) based layer 2 scaling solution, has been competing with the likes of Polygon (MATIC) and Arbitrum network in onboarding Web3 projects on the second largest network. With over $1.01 billion in total value locked (TVL), the Optimism network has been on a rising trajectory since the calendar flipped. According to …

Hut 8 merger would've happened even without FTX or crypto turmoil, says CEO

Author: Cointelegraph By Martin Young
United States
Feb 09, 2023 08:20

Hut 8 merger would've happened even without FTX or crypto turmoil, says CEO

Falling crypto prices have forced many crypto miners to cut costs or consolidate in order to survive the crypto winter.

Feb 08, 2023 05:10

Hut 8 Merges with US Bitcoin to Fight Crypto Winter

<p>Hut 8 Mining Corp. (<a href="https://www.financemagnates.com/tag/hut-8/" target="_blank" rel="follow">NASDAQ:HUT</a>), a digital asset mining company from North America, has announced an all-stock <a href="https://www.financemagnates.com/terms/m/merger/" class="terms__main-term" id="7631c19b-b9f3-43ee-a0cf-d4f8094270bc" target="_blank">merger</a> of equals with an operator of four Bitcoin (BTC) mining centers in the USA, US Bitcoin.</p><p>US Bitcoin and Hut 8 Join Forces</p><p>According to the press release, the combined company will be named Hut 8 Corp. The primary goal of the merger is to create a large scale publicly-trader crypto mining firm focused on diversifying revenue streams, cheaper mining and ESG practices.</p><p>The Boards of Directors of both companies have unanimously agreed to merge, and the new Board will consist of the five directors of Hut 8 and the five directors of US Bitcoin. </p><p>Bill Tai will retain his position as Chairman of the Board, Jaime Leverton will remain as the CEO, and Asher Ganoot will still serve as President. Michael Ho will be appointed the Chief Strategy Officer, while Shenif Visram will remain as the Chief Financial Officer.</p><p>"Bringing together Hut 8's operational track record and diversified revenue streams with US Bitcoin's scalable mining sites, sizeable hosting business, and industry-leading managed infrastructure operations not only accelerates our diversified strategy and positions us for near-term growth, but also establishes us as a strong, U.S.-based player that is ready and able to seize additional opportunities as they arise," Jaime Leverton, the CEO of Hut 8, said.</p><p>Higher Power and Mining Capabilities</p><p>The new Hut 8 will gain access to a total of 825MW of gross power spread across six data centers, each with the ability to mine, manage infrastructure and host independently. The post-merger mining potential of the two companies will reach 5.6 EH/s.</p><p>"We've been searching for the right partner to join us on our ambitious growth journey for some time and are confident that Hut 8 is the perfect fit," Michael Ho, the Co-Founder and CEO of US Bitcoin, said. </p><p>The company will utilize energy from a mix of zero-emission and renewable sources. The mining industry has recently been betting on environmentally friendlier solutions after strong criticism suggesting that it is <a href="https://www.financemagnates.com/cryptocurrency/debunking-5-myths-to-help-you-understand-bitcoins-mining-sustainability/" target="_blank" rel="follow">responsible for excessive carbon dioxide emissions</a>.</p><p>Watch the recent FMLS22 panel on Forex and crypto trends in 2023.</p><p>Crypto Miners Feel the Bitcoin Blues</p><p>Although Bitcoin's price rebounded 40% from multi-month lows in January, the mining industry is far from the results and revenues realized in 2020 or 2021. </p><p>Falling prices for BTC and other <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/" class="terms__secondary-term" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed" target="_blank">cryptocurrencies</a> have caused many companies to cut back on their workforce, with <a href="https://www.financemagnates.com/cryptocurrency/why-bitcoin-miners-made-6-billion-less-in-2022/" target="_blank" rel="follow">miners earning $6 billion less</a> in 2022 than the year before.</p><p>In January alone, cryptocurrency companies cut 3,000 jobs. These included the <a href="https://www.financemagnates.com/cryptocurrency/crypto-platform-luno-sheds-35-of-workforce/" target="_blank" rel="follow">cryptocurrency platform Luno</a>, which reduced its staff by 35%, and the <a href="https://www.financemagnates.com/cryptocurrency/third-times-the-charm-gemini-cuts-its-workforce-once-again/" target="_blank" rel="follow">exchange Gemini</a>, which decided to cut its workforce for the third time in nine months. </p><p>Mining companies are managing to produce more coins than before, even though the difficulty of mining has increased. Still, this guarantees much lower revenues due to low profitability at current prices. <a href="https://www.financemagnates.com/cryptocurrency/btc-miner-northern-data-increases-its-crypto-production-by-315-in-2022/" target="_blank" rel="follow">Northern Data has increased its production by 315%</a> compared to last year, but this has not translated into better financial results in dollar terms.</p><p>In challenging market conditions, only the strongest can survive. Hence the decision by Hut 8 and US Bitcoin to merge seems perfectly logical. The question is if cryptocurrencies continue to remain cheap in the long term, whether this will lead to further industry consolidation.</p> This article was written by Damian Chmiel at www.financemagnates.com.

Dec 27, 2022 08:55

Troubled Crypto Lender Vauld Calls Off Acquisition by Nexo

<p>Singapore-based troubled crypto lender, Vauld has confirmed the termination of the talks for acquisition by rival Nexo for failure in responding to due diligence requests for a <a href="https://www.financemagnates.com/terms/s/solvency/" target="_blank" id="d4466a77-4dda-4663-9fb4-a2aced6106ec_1" class="terms__secondary-term">solvency</a> assessment that would assure creditors.</p><p>"We were previously exploring a potential <a href="https://www.financemagnates.com/terms/a/acquisition/" target="_blank" id="3180494d-8751-4a02-9476-86dc1cd4d2e2_2" class="terms__main-term">acquisition</a> by Nexo as part of the proposed restructuring plan," Vauld told crypto-focused publication Coindesk in a private Twitter message. "To provide a very brief summary, our discussions with Nexo have unfortunately not come to fruition."</p><p>Further, <a href="https://www.financemagnates.com/institutional-forex/nexo-prime-enhances-service-with-onezeros-institutional-hub-integration/" target="_blank" rel="follow">Nexo's </a>decision to phase out services in the United States would have jeopardized the fate of Vauld customers with their claims if the acquisition deal had materialized. Additionally, Nexo reportedly failed to offer Vauld customers an exit option which was crucial for restructuring.</p><p>The deal ended only five months after Nexo and Vauld signed an initial agreement to explore the possibility of the acquisition. Though Vauld did not highlight the impact of the deal termination on its ongoing restructuring, it fell through less than a month from its <a href="https://www.financemagnates.com/cryptocurrency/news/crypto-lender-vauld-gets-three-months-protection-against-creditors/" target="_blank" rel="follow">deadline to come up with a restructuring plan</a>.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/Nexo?ref_src=twsrc%5Etfw">@nexo</a> <a href="https://twitter.com/AntoniNexo?ref_src=twsrc%5Etfw">@AntoniNexo</a> nexo aquisiation proposal rejected by vauld. Reason is nexo failed to respond for a comprehensive due diligence on them ,including solvency assesment of nexo. Celcius rejected nexo’s proposal.Blockfi rejected nexo’s proposal.Now vauld rejected . <a href="https://t.co/VhLBDyzZbI">pic.twitter.com/VhLBDyzZbI</a></p>— dhruv gupta? | TechnicalAnalyst ? | Traveller ?? (@Dhruvforreal) <a href="https://twitter.com/Dhruvforreal/status/1607281774106931201?ref_src=twsrc%5Etfw">December 26, 2022</a></blockquote><p>Nexo Still Wants to Acquire Vauld</p><p>However, Nexo is not quitting its attempts at this acquisition as of yet. "Nexo has not given up on its attempt to save Vauld and help its creditors recover the maximum possible platform funds," Nexo's Co-Founder and Managing Partner, Kalin Metodiev, wrote in an email sent to the crypto publication.</p><p>The two companies reportedly did not mutually agree to end the deal, which is necessary for a formal termination.</p><p>The troubles of Vauld were exposed when the platform <a href="https://www.financemagnates.com/cryptocurrency/news/crypto-lending-platform-vauld-suspends-withdrawals-trading-and-deposits/" target="_blank" rel="follow">suspended all activities</a>, including withdrawals, trading, and deposits, in early July, citing financial challenges and looking for restructuring options. Later, the company filed for a moratorium order for protection against creditors in a Singapore court and received one for three months.</p><p>Check out the recent London Summit session on the question "Will Crypto Fizzle Out or Here to Stay?"</p><p>Founded in 2018, Vauld claimed to offer the highest interest rates on major cryptocurrency deposits. It offered borrowing against cryptocurrencies and several other trading-related services.</p><p>According to a court filing in July, Vauld owed $402 million to its creditors, and 90 percent of that debt originated from retail investors. Furthermore, the company's troubles continued as the Indian authorities froze its assets worth about $46.4 million only a month after filing for creditor protection.</p> This article was written by Arnab Shome at www.financemagnates.com.

Dec 21, 2022 05:05

Australian Crypto Exchange Swyftx Shelves $1.5bn Merger with Superhero

<p class="MsoNormal">Brisbane-based cryptocurrency exchange, Swyftx, and shares trading and superannuation platform, Superhero, have abandoned a merger deal they agreed to earlier in June. The deal was supposed to create “a $1.5 billion financial services giant” through the integration of platforms.</p><p class="MsoNormal text-align-justify">Announcing <a href="https://swyftx.com/media/press-releases/swyftx-and-superhero-merge-to-create-countrys-first-financial-superapp/" target="_blank" rel="follow">the deal in June</a>, Swyftx described it as “a historic merger that will create the country’s first digital and traditional finance powerhouse.” However, the Australian Financial Review reports that both firms have decided to jettison the deal, citing Australia's unfavorable <a href="https://www.financemagnates.com/tag/crypto-regulations/" target="_blank" rel="follow">digital asset regulation</a>.</p><p class="MsoNormal text-align-justify">“The policy environment has changed significantly since we announced the merger and neither party has been able to realize the vision of <a href="https://www.financemagnates.com/tag/merger/" target="_blank" rel="follow">the merger</a> in any meaningful way,” Alex Harper, Swyftx’s CEO, said in a statement cited by the outlet. Harper further explained customers might get no benefits from the merger until 2024, hence the decision was taken “in the best interests” of the customers and both entities.</p><p class="MsoNormal">The cancellation of the merger comes about a month after Swyftx insisted that the merger was still on track after concerns emerged about the Australia-based crypto exchange’s capital raise following <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">the collapse of FTX</a>. However, the exchange said the raise was for its global expansion.</p><p>Check out this recent Finance Magnates London Summit 2022 session on the future of crypto.</p><p class="MsoNormal text-align-justify">Crypto Regulatory Landscape in Australia</p><p class="MsoNormal text-align-justify">Meanwhile, in October, the Australian Securities and Investment Commission (ASIC) <a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-287mr-asic-sues-bps-financial-for-alleged-misleading-statements-about-crypto-asset-qoin/?utm_source=miragenews&utm_medium=miragenews&utm_campaign=news" target="_blank" rel="follow">sued BPS Financial</a> for alleged misleading statements about its token Qoin. The regulator, which described digital assets as “highly volatile, inherently risky, and complex,” also recently sued crypto exchange Block Earner and comparison platform Finder.com for alleged misconduct.</p><p class="MsoNormal">However, the Australian government <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/modernising-australias-financial-system" target="_blank" rel="follow">announced last week</a> that it will establish a framework for the licensing and regulation of crypto service providers in 2023. The government said it wants to “ensure additional safeguards for Australians.”</p><p class="MsoNormal">“The next steps in the Government’s ongoing ‘token mapping’ work will include the release of a consultation paper in early 2023 to inform what digital assets should be regulated by financial services laws, and the development of appropriate custody and licensing settings to safeguard consumers,” the country's Treasury explained in a statement.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.

Dec 06, 2022 01:10

Stablecoin provider Circle terminates plans to go public

Circle, the cryptocurrency firm behind the stablecoin USDC, has reportedly terminated plans to go public after canceling its special purpose acquisition company (SPAC) transaction with Concord Acquisition Corp.

The post Stablecoin provider Circle terminates plans to go public appeared first on CryptoSlate.

Further BTC mining consolidation as Crusoe acquires peer mining firm

Author: Cointelegraph By Jesse Coghlan
United States
Oct 13, 2022 08:35

Further BTC mining consolidation as Crusoe acquires peer mining firm

Crusoe Energy Systems has just acquired the operating assets of Great American Mining, a sign that further consolidation could be ahead.

Sep 10, 2022 09:55

Ethereum Price Recovers Despite Merge Fears As The Hideaways Takes Off

The post Ethereum Price Recovers Despite Merge Fears As The Hideaways Takes Off appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Anticipation for the Ethereum merge has seen the Ethereum (ETH) price increase in volatility over the course of the past month. Initially falling heavily, the Ethereum (ETH) price recovered with 4% gains on Friday 9 September. Ethereum (ETH) has had a rough time in the current bear market.The 2022 Ethereum (ETH) price prediction isn’t looking …

Why Ethereum “Merger” Will be the Game Changer For Crypto Forever

Author: Vishist Surjan
India
Aug 22, 2022 05:55

Why Ethereum “Merger” Will be the Game Changer For Crypto Forever

The most significant shift to Ethereum in its seven-year history is expected to happen in a few weeks. The “proof-of-work” security mechanism used up until now to protect the Ethereum blockchain uses more energy than Belgium as a whole. Adopting a new “proof-of-stake” technique will reduce Ethereum’s energy use by 1,000 starting next month.. However, […]

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