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Daily Crypto News | June 29th, 2022

1. Bitcoin Hardware Miner Compass Mining Announced CEO And CFO’s Resignations

As of today, Whitney “Whit” Gibbs, the chief executive officer and co-founder of bitcoin hardware mining business Compass Mining, and Jodie Fisher, the chief financial officer, have resigned. The resignations occur soon after claims that Compass Mining neglected to make utility payments at a Dynamics Mining-owned operation in Maine surfaced.

In a letter sent to Compass Mining on June 10th, Dynamics Mining claimed that the firm had not paid for utilities, monthly hosting costs, and two of its facilities, Oxford and Lewiston. The letter was released on Dynamics Mining’s Twitter account on Sunday.

2. Axie Infinity’s Ronin Bridge Finally Recovered

In terms of total trade volume, the most popular NFT-based video game, Axie Infinity, saw one of the biggest DeFi hacks ever in March. The bridge that was exploited to link Ethereum to the game’s sidechain has now been repaired.

Nearly three months to the day after the studio revealed the hack, Axie Infinity creator Sky Mavis confirmed today that the Ronin bridge is again fully operational once more. The Ronin network may now accept deposits and withdrawals from users.

3. Famous Author Robert Kiyosaki Waits For Bitcoin To Hit $1,100

Robert Kiyosaki, the author of Rich Dad Poor Dad, is back with a fresh take on Bitcoin. Kiyosaki and Sharon Lechter co-authored the 1997 book Rich Dad Poor Dad. It has spent more than six years as a best seller in the New York Times. The book has sold more than 32 million copies worldwide in more than 51 different languages.

He tweeted a “Rich Dad” lesson recently, saying he will be waiting for Bitcoin to hit $1,100 and see how it reacts to decide if he would buy more. On Twitter, many individuals disagreed with Kiyosaki’s prediction that bitcoin would ever reach $1,100. Some believed that the author of Rich Dad Poor Dad mistyped and meant $11,000.

The renowned investor has been predicting that when Bitcoin’s price bottoms out, he will purchase more of the digital currency. He began predicting that Bitcoin will bottom out at $20K when it started to decline significantly in recent months. He repeatedly updated his predicted bottom price when BTC’s price fell further.

4. Crypto Lender Nexo Claims To Be Different From Competitors

Since BlockFi, Celsius, and Voyager Digital’s continuous liquidity problems have drawn attention, other cryptocurrency lenders have been scrambling to reassure their clients that their money is secure.

However, Nexo, which cites the real-time attestations from accounting company Armanino as evidence that it hasn’t followed in the footsteps of its rivals, has also had to deal with a Twitter user who asserts that its co-founder Kosta Kantchev embezzled money from a charity to construct a palace the size of a high school”

The company published a reaction to those allegations, claiming that the account had been spreading “lies and distortion in yet another smear effort against Nexo,” and that the accusations had been made in error.

5. BlockFi Surprisingly Received Money Services License In Iowa

BlockFi, a cryptocurrency lending platform, declared on June 28 that it had been granted a Money Services License in Iowa, just two weeks after being penalized by Iowa regulators for marketing and selling unregistered securities.

The crypto lender will be able to buy and sell payment instruments in Iowa thanks to the state’s license. BlockFi announced on Twitter that it will start by enabling stablecoin trading for citizens of Iowa.

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