The post Crypto Biz: Riot Platforms and Bitfarms dispute escalates appeared on BitcoinEthereumNews.com.

This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more. The corporate dispute between crypto miners Riot Platforms and Bitfarms has recently intensified.  On June 11, Riot Platforms disclosed a significant increase in its stake in Bitfarms, acquiring roughly six million shares worth over $111 million and bringing its total holding from 9.25% to 13.1%. The move came just a day after Bitfarms suggested a “poison pill” defense strategy to prevent Riot from increasing its stake to 15% or more. The defense mechanism is designed to dilute the value of shares and hinder Riot’s takeover plans. Read more Source: https://cointelegraph.com/news/crypto-biz-riot-platforms-bitfarms-dispute-escalates

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Filed under: News - @ June 16, 2024 10:02 am