Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices. On Dec. 14, Financial services platform B. Riley offered to finance…
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Before its downfall, crypto exchange FTX and its then-CEO Sam Bankman-Fried had been some of the most prolific spenders in the space, bailing out crypto firms and donating to political campaigns and media outlets. With more than 1 million FTX creditors looking to be made whole, what’s happening with these funds? Bankman-Fried said in May…
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If you saw the returns in my crypto portfolio this year, you would take a pass on my predictions for the direction of the cryptocurrency market. So, I will stick to what I know and share some regulatory predictions for the crypto industry. Few legislative changes A few minor victories will logroll small legislative fixes…
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It’s been a tough year for crypto, and venture capital activity confirms it. The collapse of FTX in November was the latest and most shocking in a series of closures of key market players this year — including Celsius, Voyager and BlockFi — that have shaken investor sentiment and wiped out $1.5 trillion in market…
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According to a new filing with the U.S. Securities and Exchange Commission on Dec. 20, Bitcoin (BTC) miner Greenidge stated that it reached an agreement with its creditor, fintech firm NYDIG, to restructure approximately $74 million worth of debt. The deal, in the form of a non-binding term sheet, would result in a major change…
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I attempted to spend two weeks travelling in El Salvador living on Bitcoin. I tried to pay for every single thing with Bitcoin, or Satoshis, small amounts of Bitcoin. Spoiler alert, I failed. Outfoxed by car hire companies (fortunately my car of choice was not Fiat); stubborn restauranteurs, a parking meter, pupusas, and a fancy…
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Bitcoin (BTC) and other bulls will not benefit from a major change in United States inflation policy in 2023, one analyst says. In a Twitter thread on Dec. 20, Jim Bianco, head of institutional research firm Bianco Research, said that the Federal Reserve would not “pivot” on rate hikes next year. Bianco: Japan YCC move…
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The Central African Republic has announced it will delay the listing of cryptocurrency, Sango Coin, on crypto exchanges due to current market conditions and marketing reasons. The update was revealed in Sango’s Telegram group. Sango Coin was launched in July with the aim of raising nearly $1 billion over the next year. So far, however,…
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More than six months after the collapse of the Terra ecosystem, South Korean authorities continue to investigate and freeze the funds of persons involved in Terra. After seizing 140 billion won ($108 million) from Terra co-founder Shin Hyun-Seong in November, the Seoul Southern District Court has recently ruled to confiscate more assets related to Terra.…
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The Lightning Network strikes again. In a small yet significant development for Bitcoin (BTC), a new type of BTC address has been introduced: the “Lightning Address.” These unique identifiers are specifically designed for use on the Lightning Network, a layer-2 payment protocol that operates on top of the Bitcoin blockchain. A user-friendly addition to ways in which…
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