Leading decentralized exchange, Uniswap, has partnered with fintech firm, Moonpay, to allow its users to buy cryptocurrency directly with supported debit or credit cards and with their bank accounts.

Former FTX CEO, Sam Bankman-Fried, has agreed to be extradited to the United States after a chaotic morning of legal maneuvering, in which Bankman-Fried was moved back and forth between a court and a prison in the Bahamas.

Core Scientific, a leading publicly traded cryptocurrency mining company in the United States, has filed for Chapter 11 bankruptcy protection in Texas, according to CNBC. The filing comes after a year of declining cryptocurrency prices and rising energy costs.

Top stories in the Crypto Roundup today:

• Uniswap to Add Debit and Credit Card Buying Options
• Sam Bankman-Fried Said to Be Set for Extradition to U.S.
• Bitcoin miner Core Scientific Filing for Chapter 11 Bankruptcy
• Chart of the Week: TVL in 2022

Uniswap to Add Debit and Credit Card Buying Options

Leading decentralized exchange, Uniswap, has partnered with fintech firm, Moonpay, to allow its users to buy cryptocurrency directly with supported debit or credit cards and with their bank accounts.

The bank transfer option is first being rolled out to users in most U.S. states, Brazil, the United Kingdom, and the Single Euro Payments Area (SEPA). The move allows users to convert fiat into crypto on Ethereum, Polygon, Optimism, or Arbitrum in a matter of minutes.

Uniswap is a decentralized exchange that allows users to custody their own funds via self-custodial wallets and allows for permissionless transactions on public blockchains.

The fiat on-ramp initially supports stablecoins DAI, USDC and USDT, along with some tokens including Ether, wrapped Ether (wETH), and wrapped Bitcoin (wBTC). Uniswap is hoping the move will improve the exchange’s onboarding process with its “no spread fees on USDC, lowest processing fees in the market, and instant access.”

Sam Bankman-Fried Said to Be Set for Extradition to U.S.

Former FTX CEO, Sam Bankman-Fried, has agreed to be extradited to the United States after a chaotic morning of legal maneuvering, in which Bankman-Fried was moved back and forth between a court and a prison in the Bahamas.

The former CEO is facing fraud charges in the United States over the collapse of FTX, which was based in the Bahamas. Local defence lawyer Jerone Roberts said Bankman-Fried agreed to extradition voluntarily, defying “the strongest possible legal advice.”

Speaking to reporters after the hearing, Roberts said his legal team was preparing documents so a “time and date could be fixed for the extradition process to continue and to be completed.”

Once in the United States, Bankman-Fried is likely to be detained at the Metropolitan Detention Center in Brooklyn, pending a bail hearing. The extradition will set up months of courtroom maneuvering in the United States.

Bitcoin Miner Core Scientific Filing for Chapter 11 Bankruptcy

Core Scientific, a leading publicly traded cryptocurrency mining company in the United States, has filed for Chapter 11 bankruptcy protection in Texas, according to CNBC. The filing comes after a year of declining cryptocurrency prices and rising energy costs.

The cryptocurrency miner focuses on assets like Bitcoin, which has seen its price drop over 60% year-to-date, amid a decline that started after it hit a new all-time high last year of over $69,000. The company’s market capitalization has, as a result, dropped from $4.3 billion last year to $78 million.

Core Scientific went public through a special purpose acquisition vehicle, or SPAC, and lost over 98% of its value so far this year. The company is generating positive cashflow, but that cash isn’t sufficient to pay the financing debt owed on equipment it was leasing.

The firm isn’t set to liquidate but will continue to operate normally while reaching a deal with senior secure noteholders, which hold the bulk of its debt.

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