The debt-for-equity swap leaves existing shareholders with just 2.5% as the struggling Bitcoin miner delists from the London Stock Exchange and shifts focus to the U.S. Argo Blockchain’s Debt Crisis Leads to Dramatic Takeover Argo Blockchain, once a leading name in the UK’s crypto mining sector, has effectively lost control of its operations after its largest creditor, Growler Mining, seized an 87.5% stake through a sweeping debt-for-equity restructuring. The move, filed under the UK Companies Act, is aimed at preventing insolvency and ensuring Argo’s survival under new ownership. Under the restructuring — known as Project Triumph — Growler will convert…
Author: Blockto Team
Exchange buys NFT that triggers the show’s comeback amid renewed bull market optimism In a surprising twist that blends nostalgia, marketing, and blockchain innovation, Coinbase has reportedly spent $25 million to purchase and burn an NFT tied to the revival of the once-famous crypto podcast UpOnly. The move has sparked widespread discussion across the crypto community, rekindling excitement reminiscent of the 2021 bull run. Coinbase CEO Brian Armstrong confirmed the acquisition on Tuesday, saying, “The rumors are true,” shortly after on-chain data from Arkham Intelligence showed a $25 million USDC transfer to a wallet linked to Jordan “Cobie” Fish, one…
A coalition of crypto and fintech organizations calls for strong data rights protections, warning that banks are trying to weaken the open banking framework and limit consumer control. Crypto and Fintech Alliance Pushes for Stronger Data Rights A coalition of crypto, fintech, and retail trade groups is pressing the U.S. Consumer Financial Protection Bureau (CFPB) to finalize an open banking rule that ensures consumers—not banks—maintain control over their financial data. The joint letter, signed by major industry organizations including the Blockchain Association, the Crypto Council for Innovation, the Financial Technology Association, and the American Fintech Council, argues that open banking…
The USDe stablecoin issuer plans to grow its workforce by nearly 50% as it prepares to introduce two new products with potential to rival its flagship asset. Ethena Labs Strengthens Its Position in DeFi Market Ethena Labs, the development firm behind the third-largest stablecoin USDe, is gearing up for major expansion. Co-founder Guy Young announced that the company will hire about 10 new engineers, increasing its team size by nearly 50% as it prepares to unveil two new products within the next three months. “Ethena has stayed roughly flat at around 20–25 contributors for the last two years,” Young said…
BTC dips to weekly lows amid weak trading volume, with analysts eyeing a potential move to fill the latest CME futures gap around $107K. Bitcoin Price Faces Renewed Selling Pressure Bitcoin (BTC) fell by 2.5% on Tuesday, slipping to around $107,460 on major exchanges as the market reacted to a possible CME futures gap below current levels. The decline erased early-week gains and revived concerns that $100,000 support could fail if selling continues. Data from trading platforms shows Bitcoin giving back its short-lived rebound as traders watch the CME Group’s Bitcoin futures chart, where a gap remains unfilled near $107,390.…
Crypto meets calcio as Dogecoin expands its real-world footprint through European sports investment In a bold move to strengthen Dogecoin’s real-world utility, the House of Doge, the commercial arm of the Dogecoin Foundation, has acquired a majority stake in the historic Italian football club US Triestina Calcio 1918. The deal marks one of the most significant crossovers yet between digital assets and traditional sports, underscoring the growing influence of crypto-backed organizations in global markets. According to Monday’s announcement, the investment — made in partnership with Brag House Holdings — positions the House of Doge as the largest equity holder in…
$40 Million in Withdrawals Signal Mixed Institutional Sentiment as Bitcoin Trades Near $107,800 U.S. spot Bitcoin exchange-traded funds (ETFs) continued to record net outflows for the fourth consecutive day, with investors pulling $40.5 million on Monday, even as broader crypto markets attempted a modest recovery. The outflows, according to recent fund data, underscore an ongoing institutional cool-off following weeks of volatility and macroeconomic uncertainty. BlackRock’s IBIT led the decline, posting $100.7 million in withdrawals, which were only partially balanced by smaller inflows into funds operated by Fidelity, Grayscale, Bitwise, VanEck, and Invesco. ETF Flows Diverge from Market Price Action Interestingly,…
Eli Ben-Sasson argues that centralized “corpo chains” will fail long term unless they adopt crypto’s decentralization ethos. Corporate Blockchains and the Decentralization Dilemma Corporate-controlled blockchains — often called “corpo chains” — may be doomed to fail unless they align with the core principles of decentralization, according to Eli Ben-Sasson, co-founder and CEO of StarkWare, a blockchain scaling firm. In a detailed post on X, Ben-Sasson reiterated that the true value of blockchain lies in eliminating central entities, not reinforcing them. “The important element of blockchain is a system that gets rid of a central entity,” he explained, emphasizing that this…
Provincial government says move is necessary to protect grid stability, but industry experts argue it’s a short-sighted approach that ignores the benefits of crypto mining. The government of British Columbia (BC) is set to ban new crypto mining connections to its hydroelectric power grid, citing concerns over surging electricity demand and limited economic benefits from the sector. The decision, announced Monday, comes as part of a broader strategy to balance energy supply for both traditional and emerging industries like artificial intelligence (AI) and data centers. According to the provincial statement, the new legislation—effective fall 2025—will introduce “limits on the power…
White House economic adviser Kevin Hassett has said the ongoing US government shutdown is “likely to end sometime this week,” signaling a potential revival of crypto regulatory progress that has been stalled for nearly three weeks. A Path Toward Ending the Shutdown Speaking to CNBC’s Squawk Box on Monday, Hassett said he expects moderate Democrats to join Republicans in reopening the government. “The Schumer shutdown is likely to end sometime this week. The moderate Democrats will move forward and get us an open government, at which point we can negotiate policies through regular order,” he stated. Hassett added that if…