Crypto
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Bitcoin price rally provides much needed relief for BTC miners
Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs. As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and those who were unable to meet their debt obligations were forced to sell the BTC reserves near the market bottom or declare bankruptcy Notable Bitcoin mining bankruptcies in 2022 came from Core Scientific, filing for bankruptcy, but BTC’s early 2023 performance is beginning to suggest that the largest portion of capitulation has passed. Despite the strength of the current bear market, a few miners were able to i...
Bitcoin mining in a university dorm: A cooler BTC story
The humble university dorm is a place for students taking their undergraduate degrees to study, rest, make new friends, host wild dorm parties and, of course, mine Bitcoin (BTC). A master’s student in market research and self-described “data guy,” Blake Kaufman, has hooked up an S9 Bitcoin miner to the Bitcoin network. He won the S9 miner in a raffle at a mid-Michigan Bitcoin meetup and immediately set about learning how to use it. Blake has consistently shown up to every https://t.co/2Q6OuIwW4O event with at least one friend, a tremendous attitude, and unmatched enthusiasm. Glad you won the S9 raffle! Hash away at those KYC free sats, and enjoy the heat this winter! https://t.co/AQNzDjnDGC — Mid-Michigan Bitcoin (@517Bitcoin) November 17, 2022 During a video call with Cointelegraph,...
NFT Steez and Cryptoys CEO discuss the future of toys and entertainment within Web3
This week, NFT Steez met with Cryptoys founder Will Weinraub to discuss the current role of play and toys in regard to their integration with nonfungible tokens and Web3 as a whole. Weinraub believes that the act of play is “not restricted to children” and that as adults, “we still crave the element of play throughout life.” According to him, “play has evolved” through the development of technology. NFTs, especially in gaming, have highlighted this layer of ownership through play. Weinraub and Cryptoys theorize that “adults are just looking for ways to feel like kids again.” Keeping the question of “how play evolves” at the forefront, Weinraub said this is a core tenet of his experience with the evolution of play. Weinraub emphasized how profoundly the internet ...
Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold
Bitcoin (BTC) rose toward new multi-month highs on Jan. 20 as analysis predicted a new trading range above $18,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price range “well defined” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing but preserving support at $21,000. The pair edged higher at the Wall Street open, in line with United States equities as the third trading week of an explosive January drew to an end. Despite misgivings over the rally’s fundamental strength, Bitcoin continued to avoid significant corrections, with exchange order book analysis revealing $23,000 as the next big resistance zone to crack. “I view the lack of BTC liquidity below $18k and above $23k as a lack of sentiment for those levels at this time,”...
FTX bankruptcy lawyer: debtors face ‘assault by Twitter’ stemming from Sam Bankman-Fried
James Bromley, one of the lawyers representing debtors in FTX’s bankruptcy case, has criticized social media activity against his law firm promulgated by posts from former CEO Sam Bankman-Fried. In a Jan. 20 hearing in the District of Delaware, lawyers spoke on motions dealing with potential conflicts of interest between Sullivan & Cromwell, the law firm tasked with the investigation of FTX’s bankruptcy, and the crypto exchange. Bromley, a partner at Sullivan & Cromwell, pushed back against the narrative that the law firm would be unable to act as a disinterested examiner given it had previously provided legal services to FTX and one of its former partners, Ryne Miller, went on to become the FTX US lead counsel. On Jan. 19, former FTX chief regulatory officer Daniel Friedberg filed...
BlockchainSpace Makes An Exceptional Move for Web3 Community Support with Metasports Acquisition
Manila, Philippines, 19th January, 2023, Chainwire BlockchainSpace CEO and Founder Peter Ing, Metasports CBO and Co-Founder Lars Hernandez, and Metasports CEO and Co-Founder Joe Josue are optimistic that the majority acquisition of Metasports will make waves in Web3 and bring great value to their stakeholders in the coming years. BlockchainSpace (BSPC), the leading data aggregator and infrastructure provider for guilds and Web3 projects, is confident that 2023 will be a banner year following the majority acquisition of Intellectual Property (IP) House, Metasports. Peter Ing, Chief Executive Officer and Founder of BSPC, believes the synergistic partnership with Metasports will bring more value to the partner guilds under BSPC’s flagship product, Guild Hub, and give Metasports an unbridled s...
Nifty News: Trump NFTs surge 800%, Yuga Labs blacklists NFT exchanges and more
Trump NFTs daily sales surge by 800% Former United States President Donald Trump’s nonfungible token (NFT) trading card collection has recently witnessed a massive resurgence in daily sales volume. Compared to Jan. 17 sales volumes, Jan. 18 and 19 saw spikes of 800% and 600% respectively, according to market metrics aggregator Cryptoslam. Some pundits believe the renewed interest could be due to his imminent return to social media networks, following reports that the former president was seeking to rejoin Facebook and Twitter ahead of the 2024 presidential election campaign. NFT Watch: Trump Digital Trading Cards see 88% increase in floor price in the past 24 hours following news of his plans to return to Twitter. : https://t.co/P6W2uHx0Sr pic.twitter.com/IJogZR6yR4 — CoinGecko (@coingecko...
FTX reboot could falter due to long-broken user trust, say observers
Several crypto industry commentators have expressed skepticism about FTX CEO John Ray’s vision to potentially reboot the crypto exchange, citing trust issues and “second-class” treatment of customers as reasons why users may not “feel safe to go back.” Former FTX CEO Sam Bankman-Fried tweeted on Jan. 20 praising John Ray for looking at a reboot of FTX, suggesting it is the best move for its customers. I’m glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts! I’m still waiting for him to finally admit FTX US is solvent and give customers their money back…https://t.co/XjcyYFsoU0https://t.co/SdvMIMXQ5K — SBF (@SBF_FTX) January 19, 2023 This came after John Ray told The Wall Street Journal on Jan. 19 that he wa...
Crypto becomes second most widely-owned asset class for women: eToro survey
While traditional asset classes fail to foster broader adoption among women, crypto seems to have found success in bringing women on board, according to a recent survey. Data sent to Cointelegraph by the eToro team highlighted that crypto is now the second most widely-owned asset class for women, second only to cash. This comes from eToro’s latest Retail Investor Beat, which surveyed around 10,000 global retail investors in 13 countries. According to the survey results, there is a significant rise in crypto ownership among women. Data shows that ownership increased from 29% in the third quarter of 2022 to 34% in the last quarter. According to the eToro team, this suggests that crypto is “succeeding where traditional financial markets have sometimes failed, ” which is by br...
NFT sales topped 101 million in 2022: DappRadar report
Over the last year, nonfungible tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-term value. A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million — a 67.57% increase from the previous year. According to the report, the Ethereum ecosystem holds the top spot in the NFT ecosystem, holding 21% of the market share and over 21.2 million transactions processed. It is followed by Wax (14.5 million), Polygon (13.3 million) and Solana (12.9 million). Both the Solana and ImmutableX ecosystems saw massive growth from the previous year in terms of transaction activity, with a 440%...
FTX-linked Moonstone bank to exit the crypto space
Moonstone Bank, a rural Washington state bank that received an estimated $11.5 million investment from FTX’s sister company, Alameda Research, says that it will be exiting the crypto space and returning to its “original mission” as a community bank. In a Jan. 18 statement, the bank said that the change in strategy comes as a result of “recent events in the crypto assets industry and the changing regulatory environment surrounding crypto asset businesses.” As part of the bank’s initiative to “return to its roots,” it said that it will no longer use the name Moonstone Bank and will be rebranding and re-adopting the Farmington State Bank name, known in the local community for 135 years. According to the bank, the change is estimated to take effect in the coming weeks and loca...
Nexo agrees to $45M settlement with SEC and states over earn product
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to the statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5 million will be paid in fines to settle similar charges by state regulatory authorities, the report said. NASAA said in its statement that the settlement in principle comes after investigations into Nexo’s alleged offer and sale of securities after the past year of inv...
