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Crypto Mining Hosting Firm Applied Blockchain Adds $15M Loan to Pay Off Debt, Fund Growth

Debt has been a sore spot for some crypto miners, some of whom have faced margin calls on their loans as the value of their collateral, usually bitcoin or equipment, has diminished during the past few months’ market rout. However, given the capital heavy nature of the mining business, raising funds through debt has been …

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California Man Must Pay $61K in Restitution for SIM Swap Scam That Stole One Victim’s Crypto

Richard Yuan Li, whom prosecutors had charged with one count of conspiracy to commit felony wire fraud, and co-conspirators stole the crypto from an unnamed New Orleans physician after gaining access to multiple crypto accounts. The victim had accounts with Binance, Bittrex, Coinbase, Gemini and Poloniex, among others. At one point, one conspirator attempted to …

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Argo Blockchain keeps cashing out BTC to pay the debt to Galaxy Digital

Cryptocurrency mining firm Argo Blockchain continues to sell its Bitcoin (BTC) holdings to cut its debt to Michael Novogratz’s crypto investment firm Galaxy Digital. Argo sold another 887 Bitcoin in July to reduce obligations under a BTC-backed loan agreement with Galaxy Digital, the firm announced on Friday. With the average BTC price of $22,670, the …

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