Dogecoin price has displayed a notable move this past weekend, continuing its thanksgiving gains and rising 22% on Sunday to reach $0.108. In the most […] Go to Source
Monthly archives: November 2022
BlockFi declares bankruptcy, files Chapter 11
Summary: Crypto lender BlockFi declared bankruptcy on Monday after exposure to FTX. The company had some 100,000 creditors and around $256 million in cash when chapter 11 was filed. FTX backed the lender with a $250 million loan following Three Arrows Capital exposure. Cryptocurrency lender BlockFi filed for chapter 11 bankruptcy on Monday following exposure …
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FTX’s collapse throws Singapore officials under parliamentary review
Summary: Singapore’s parliament has questions for Prime Minister Lee Hsien Loong and Deputy Prime Minster Lawrence Wong after FTX blew up. Lawmakers also queried Temasek’s due diligence after the state-backed venture firm wrote off $275 million stuck on Sam Bankman-Fried’s exchange. The Bahamas-based platform was not licensed to operate in Singapore before filing for bankruptcy. …
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Blockfi becomes another victim of the FTX collpase with bankruptcy filing
The FTX downturn is gradually spreading to more cryptocurrency firms as BlockFi is the next firm to file for bankruptcy. BlockFi said Nov. 28 that it filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of New Jersey and would seek to recover all obligations owed to BlockFi by its …
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Texas wants to be the centerpiece of Bitcoin innovation, says Governor Abbott
Texas Governor Greg Abbott sees value in what Bitcoin means to the entire world, adding that his state “wants to be the centerpiece of that.” Texas is Bitcoin country Speaking to the Texas Blockchain Council, Abbott encouraged Bitcoin entities to set up shop in Texas, saying those that do will be rewarded with “ease of …
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Kraken’s Powell says Binance Proof-of-Reserve is pointless without liabilities
Former Kraken CEO Jesse Powell criticized Binance’s Proof of Reserve, calling it an “ignorant or intentional misrepresentation.” I’m sorry but no. This is not PoR. This is either ignorance or intentional misrepresentation. The merkle tree is just hand wavey bullshit without an auditor to make sure you didn’t include accounts with negative balances. The statement …
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BitBoy alleges O’Leary was key player in Celsius collapse along with FTX
Youtuber Bitboy Crypto, aka Ben Armstrong, alleged the FTX exchange and Canadian entrepreneur Kevin O’Leary were pivotal figures in taking down Celsius. The crypto lending and borrowing platform halted withdrawals on June 13 to stabilize operations amid “extreme market conditions.” Weeks before that, rumors were circulating all was not well at Celsius, including reports of …
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Germany has the second highest concentration of ETH nodes in the world
Germany operates one of the world’s largest networks of Ethereum validators, according to the 2022 German Blockchain report published by CV VC Labs. The report which offers a structural overview of the country’s blockchain ecosystem, also indicated Germany accounts for nearly 6% of Europe’s blockchain funding. The European country has a 22.8% share of all …
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CryptoSlate Daily wMarket Update – Nov. 25-27: Top 10 assets see losses in red market
The cryptocurrency market cap saw net outflows of $21.1 billion over the last 24 hours and currently stands at $819.2 billion, down 2.70% over the reporting period. Bitcoin and Ethereum’s market cap decreased by 1.94% and 3.40% to $311.95 billion and $143.60 billion, respectively. All the top 10 cryptocurrencies saw losses over the reporting period. …
Jokes about wrapped ETH depeg cause brief panic on Twitter
Crypto influencers started a joke about wrapped Ethereum (WETH) losing its peg and becoming insolvent over the weekend, causing a brief panic within the community. The joke started on Nov. 26 when blockchain developer Cygaar tweeted that WETH was about to become insolvent and that they would bail out anyone at a rate of 0.5 …
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Terra Supporters Hope to ‘Defy the Odds’ by Pumping the Now-Defunct Stablecoin USTC Back to $1 Parity
It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its …
Biggest Movers: DOGE Down 10%, XRP Extends Declines
Dogecoin was down by as much as 10% to start the week, as the token retreated from Sunday’s high. The meme coin raced to a three-week high over the weekend, however bulls appeared to have abandoned their positions, opting to secure profits. Xrp, formerly known as ripple, fell for a third straight session on Monday. …
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Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months
During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from …
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Bitcoin, Ethereum Technical Analysis: BTC, ETH Start Week Lower as Bearish Sentiment Returns to Markets
Bitcoin fell to a six-day low to start the week, as the token moved closer to the $16,000 level. The drop sees prices fall for a fifth straight session, with overall sentiment in the cryptocurrency market turning bearish. Ethereum was once again trading below $1,200, after trading above this point in recent days. Bitcoin Bitcoin …
Salvadoran Group Files Lawsuits Against President Nayib Bukele on Lack of Transparency in Bitcoin Purchases
Cristosal, a Salvadoran nonprofit human rights organization, has filed three lawsuits related to President Nayib Bukele’s management of public funds to purchase bitcoin. The processes are being run before several national and international bodies, and call for the government to offer information on these purchases. President Nayib Bukele Sued by Salvadoran Nonprofit Cristosal On Nov. …