newsbinance

#Daily #newsbinance

After a little over a year of bankruptcy proceedings, bitcoin mining company Core Scientific has completed its reorganization requirements. The firm announced its relisting on the Nasdaq on Wednesday.

Core Scientific (CORZ) shares immediately plummeted more than 30% after the opening bell Wednesday, dipping to around $3.50 from their opening price of $5.89.

The company filed for bankruptcy in December 2022 after struggling to cover debt obligations after bitcoin lost more than 60% of its value from 2021. Core was among several mining operations that took out high-interest loans to fund growth amid the 2021 bull market.

SEC Delays BlackRock Spot Ethereum ETF

According to #BreakingNews  information, the SEC postponed BlackRock's spot Ethereum ETF application.

If approved, iShares Ethereum Trust, which will be listed on Nasdaq, will provide investors with access to the second largest cryptocurrency, Ethereum, without directly owning it.

BlackRock plans to convert its existing trust into a “spot” ETF; This means that it will directly own ETH instead of futures tied to ETH.

While futures-based crypto ETFs have previously been approved by the U.S. Securities and Exchange Commission (SEC), the regulator has long claimed that the spot crypto market is prone to fraud and manipulation.

Hey #cryptolovers
Anyone interested in crypto and wants to launch his/her website as news media then this best domain(nftSpeaks.com) is available for sale starting bid from 5k USDT.

Comment if anyone is interested.

#BTC #ALT #newsbinance

China’s Xiaomi unveils its first EV as it looks to compete with Porsche, Tesla

Chinese consumer electronics company Xiaomi on Thursday detailed plans to enter China’s oversaturated electric vehicle market and compete with automaker giants Tesla and Porsche with a car model it says it spent more than 10 billion yuan ($1.4 billion) to develop.

The company’s car model, known as Xiaomi SU7, “is in trial production and it will hit the domestic market in a few months,” CEO Lei Jun said in a Tuesday post on the X social media platform, formerly known as Twitter. “The price has not been finalized yet.”

#news #newsbinance #business #BinanceTournamen $BTC $ETH $SOL